CEOs Fired for Ethical Lapses Hit New High as Complaints Soared
- Turnover was a record 18% in 2018 for top executives, PwC says
- Median CEO tenure was five years during the last two decades
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A record 18% of chief executive officers were replaced last year, with more top executives forced out for ethical lapses than were fired for poor performance or disagreements with their boards, according to a PwC study released Wednesday.
In a year dominated with revelations about harassment and other behavioral miscues, about 39% of the top executives dismissed had been accused of ethical lapses, according to the PwC study of turnover among the top 2,500 global public companies. It was the first time ethical lapses led the causes of CEO turnover in the study’s 19-year history.