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Management jobs in Rhode Island face turnover

Posted on October 29, 2012

A recent survey talks about turnover regarding management jobs in Rhode Island and other areas.

According to Challenger, Gray & Christmas, CEO turnover has declined slightly in September as 95 CEOs announced their departures during the month.

Q4 saw the fewest CEO exits since the fourth quarter of last year.

Challenger reported that September CEO departures were down 8.7 percent from 104 in August. Last month’s total was 12 percent lower than the corresponding month a year ago, when 108 CEO changes were recorded.

Turnover is declining.

So far this year, 891 CEO departures have been announced, including 282 in the third quarter. The nine-month total is down 3.3 percent from the 922 CEO changes tracked by this point last year. The third-quarter total is 2.1 percent lower than the previous quarter and down 12 percent from 316 CEO departures in the third quarter of 2011.

“Health care has always been a top sector for CEO turnover, due in large part to the sheer number of hospitals and health-related services in this country. However, we are seeing a greater number of leadership changes than in previous years. Several factors could be contributing to this, including the economic impact on the financial health of hospitals and the inevitable changes necessary through impending legislation,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.

The government and non-profit sector had the second largest number of CEO departures this year with 120 recorded to date, including 11 in September. Both the financial and the computer sectors had 13 changes in leadership last month, bringing the year-to-date totals for those industries to 83 and 93, respectively.

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