There’s Unprecedented Carnage for Consumer CEOs This Year
- 45 CEOs left under pressure in 2019, already more than in 2018
- Data shows departure rate nearly double the last two years
Photographer: Mark Kauzlarich/Bloomberg
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The departure Tuesday of Tupperware Brands Corp. Chief Executive Officer Tricia Stitzel, which came shortly after CEO exits at McDonald’s Corp. and Gap Inc., put an exclamation point on an already bad year for executive turnover at U.S. consumer companies.
So far in 2019, 45 CEOs have left under pressure from companies making everything from hamburgers to jeans. That’s more than any other industry and represents a churn rate that is almost double that of last year and also surpasses the previous year, according to data collected from the Russell 3000 stock index by Exechange, which tracks CEO departures. So far, an average of five CEOs have departed each month this year.