Exodus of executives at FTSE 350 firms
Number of bosses leaving FTSE 350 companies more than doubled last year amid turmoil in UK economy
The number of bosses leaving FTSE 350 companies more than doubled last year as a result of the turmoil in the UK economy.
Some 38 chief executives will leave their jobs at Britain’s top companies in 2022, up from just 18 the previous year, recruitment firm Russell Reynolds Associates (RRA) said.
In the red: Some 38 CEOs will leave top UK firms in 2022, up from just 18 last year
Boss turnover was more concentrated in the mid-cap FTSE 250, where exits jumped 150 percent to 25 percent last year.
Meanwhile, the FTSE 100 saw CEO departures jump 63 percent to 13 percent.
RRA stressed that while Britain’s listed companies had experienced a “particularly tumultuous year”, 175 bosses worldwide had left the world’s top companies, a five-year record and a 32 per cent increase from 2021.
RRA director Luke Meynell said the pandemic and Brexit have created a “greater degree of change and instability” for British bosses to deal with.