Bull Bear Report Jun 08 2011

Finance CEO Turnover Decreased in May

By julie steinberg

Finance CEO turnover slowed in May, according to a report this morning by Chicago-based outplacement company Challenger, Gray & Christmas.

Eight CEOs in the finance sector left their posts last month, three fewer than those who left in April and three fewer than in May 2010.

There have been 53 finance CEO departures so far this year. Retirement was the most common reason for departure.

Challenger created the report using public filings and media announcements of CEO departures.

Across all industries, 103 CEOs left their jobs in May, the same number as in April and 22 fewer than the number who left in May 2010. Of the 26 sectors covered in the report, healthcare and government/nonprofit contributed the most to CEO turnover.

Here's the list of the finance CEOs who left in May:

Bogdan Chmielewski, Polish & Slavic Federal Credit Union, Resigned

A. Pierce Stone, Virginia Community Bank, Retired

David Hall, Shore Financial, Another position within company

Peter McNierney, Gleacher & Co., Interim Period ended

Gary Base, ViewPoint Financial Group, Retired

Rory Brown, Lydian Private Bank, Resigned

Eric Hamilton, Aliant Bank, Step Down

Paul Parish, Wings Financial Credit Union, Retired

Write to Julie Steinberg

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