Number of FTSE100 chief executives jumping ship heading for record

Economy
By Liam

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Number of FTSE100 executives jumping a ship this year heading for record

By Neil Craven and Amy-jo Crowley, Financial Mail On Sunday

Published: 21:50 BST, October 1, 2022 | Updated: 10:07 PM BST, October 1, 2022

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The number of FTSE100 top men jumping this year is heading for a record.

Unilever’s Alan Jope last week became the 19th to announce a 2022 departure, close to the record 24 in 2020 when Covid struck.

Rolls-Royce’s chef Warren East, Prudential’s Mark FitzPatrick and Whitbread’s Alison Brittain have all been fed up this year.

Jumping ship: Unilever's Alan Jope became the 19th to announce a 2022 departure, close to the record 24 in 2020 when Covid struck

Jumping ship: Unilever’s Alan Jope became the 19th to announce a 2022 departure, close to the record 24 in 2020 when Covid struck

“The ‘major layoff’ has shown no discrimination based on company size or seniority,” said Derren Nathan, chief of equity research at Hargreaves Lansdown, which collected the data.

He added: “The storm clouds stubbornly hovering over the global economy may have influenced some of these captains’ decisions to disembark.”

A City adviser said: ‘It’s miserable to be CEO of an FTSE company.

“The press makes it so hard for them and they earn ten times less than in the US. There is scarcity and a talent drain.

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