Bull Bear Report Jul 13 2011

Finance CEO Turnover Decreased in June

By julie steinberg

Finance CEO turnover slowed in June, according to a report from Chicago-based outplacement company Challenger, Gray & Christmas.

Six CEOs in the finance sector left their posts last month, two fewer than those who left in May and nine fewer than in June 2010.

There have been 59 finance CEO departures so far this year. Challenger created the report using public filings and media announcements of CEO departures.

Across all industries, 113 CEOs left their jobs in June, 10 more than the number of departures in May and six more than the number who left the same period a year earlier. There have been 606 CEO changes so far this year, down 10% from the 673 that took place in the first six months of 2010.

Of the 26 sectors covered in the report, healthcare and government/nonprofit contributed the most to CEO turnover.

Here are some notable finance CEO departures:

David Rhamy, Silver State Credit Union, new position in another company

Kay Hoveland, Kaiser Federal Financial Group, Retired

George Engelke, Astoria Financial Corporation, Retired

Write to Julie Steinberg




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