Russell Reynolds Associates: Why Public Tech CEOs are Turning Over, Fast - and How Companies Should Plan for Succession

This year is yielding an unprecedented level of turnover among CEOs within the tech industry. Companies must plan for this eventuality.

Leveraging their Global CEO Turnover Index, executive search and leadership advisory firm Russell Reynolds Associates analyzed more than 650 of the largest global public tech companies (sized at least $500 million in revenue) and found that 69 CEOs stepped down in 2022. This year, CEO turnover accelerated–the number of CEOs who have stepped down was already nearly the same (63) by the end of Q2 in 2023.

With a projected total of 88 by year’s end, the uptick of CEO transitions this year far surpasses rates of any recent years, save 2021, when global economic downturn as a result of the pandemic led to an abnormal rate of turnover.

How should companies be navigating this dynamic environment?

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Tuck Rickards
Thought leadership category