"You expect a high turnover during a recession period. To see more turnover during a period where companies are doing very well is surprising."
A record number of CEOs left their positions in October, a corporate outplacement firm reported Wednesday, the most in one month since the 2008 recession.
The news from Challenger, Gray & Christmas raised eyebrows—and concerns over a possible incoming recession—Wednesday evening at progressive news co-op The District Sentinel's radio show.
"Maybe this means nothing, maybe this is a coincidence," said show co-host Sam Sacks. "Or maybe rich people can see the writing on the wall and are cashing out right now."
Sacks and co-host Sam Knight weren't the only ones who saw the news as possibly indicative of economic upheaval on the horizon.
"Sign of a recession?" wondered Globe and Mail reporter Paul Waldie.
According to Challenger, Gray & Christmas' report, 1,332 CEOs have already left their companies, far outstripping the total 1,257 departures by this time in 2008. A total 1,484 CEOs left their positions by the end of 2008.
Last edited by mudra on Wed Mar 25, 2020 4:23 pm; edited 4 times in total