ESGAUGE, in collaboration with The Conference Board and Heidrick & Struggles, Releases Data on CEO Succession During the Pandemic

December 10, 2020

Once the economic fallout from COVID-19 began, CEO turnover in the Russell 3000 has been seeing a marked slowdown as boards opted for continuity.

It’s one of the key findings from the brand-new CEO Succession Practices report, a collaboration between business association The Conference Board, executive search firm Heidrick & Struggles, and ESGAUGE. The report is based on data for the Russell 3000 and S&P 500 provided by ESGAUGE and contains a historical analysis and the review of CEO turnover trends across 11 GICS business sectors and 14 company size groups.

Among other findings, the study shows that, in the Russell 3000, forced CEO departures due to personal misconduct declined from 44.8 percent of the total number in 2018 to 11.1 percent in 2019. And during that time in the S&P 500, they dropped from 54.5 percent to 20 percent. “Disappointing though it was to see such a large proportion of forced CEO departures in 2018 being due to personal misconduct, it is now heartening to see that in 2019 there has been such a dramatic decline in those kinds of departures,” said Paul Hodgson, Senior Advisor at ESGAUGE.

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