From Nike to Intel, CEO departures at U.S. companies hit a record this year

Core Insights - U.S. public companies have seen a significant increase in CEO turnover, with 327 changes announced through November, marking an 8.6% rise from the previous year and the highest number since at least 2010 [1][13][23] Group 1: CEO Turnover Trends - The turnover includes CEOs from major companies like Boeing, Nike, and Starbucks, indicating a growing impatience among stakeholders due to sales slumps in a strong economy [2][12] - Consumer-focused companies experience higher CEO turnover compared to industries like oil and gas or utilities, which typically have longer-tenured leaders [5] - The pandemic had previously slowed CEO changes, but recent economic challenges have accelerated turnover as companies face higher borrowing costs and shifting consumer preferences [14][15] Group 2: Notable CEO Changes - Boeing's former CEO Dave Calhoun was succeeded by Kelly Ortberg amid ongoing safety crises and operational challenges [8][17] - Starbucks appointed Brian Niccol, leading to a nearly 25% increase in shares upon his announcement, as he aims to refocus the brand [9][10] - Nike's CEO John Donahoe stepped down after stagnating growth, having previously increased sales from $39.1 billion in fiscal 2019 to $51.4 billion in fiscal 2024 [11][30] - Intel ousted CEO Pat Gelsinger as the company struggled to compete in the chip market, particularly against Nvidia [16][24] - Peloton has seen multiple leadership changes, with Peter Stern being appointed as the third CEO, focusing on profitability through subscription revenue [32]