The number of CEO changes at U.S. companies fell 13% to 120 in July from 138 in June, down 2% from the 123 CEO exits announced in the same month one year prior, according to a report released by Challenger, Gray & Christmas.
Through the first seven months of 2026, 1,040 CEO exits have been announced, down 23% from the 1,358 recorded in the same period last year. It is the lowest year-to-date total since 2022, when 832 CEO exits were recorded through July.
“After three years of increased CEO exit activity and despite the influx of change at organizations nationwide, companies are keeping their leaders,” says Andy Challenger, labor expert and chief revenue officer for Challenger, Gray & Christmas. “This change is led by AI, but also includes rising costs, shifting consumer behavior and regulatory environment, and high inflation. Boards continue to signal stability to workers and investors.”
Key takeaways:
· Publicly-traded company exits held below last year’s pace. In July, 24 publicly-held company CEOs departed. For the year, 205 public company CEOs left their posts, down 25% from the 273 CEO exits from public companies recorded in the same period last year.
· Women continue to make gains in the C-Suite. Through July, the rate of new female CEOs stands at 27.6% year-to-date, up from 25.6% in the same period of 2025 and on pace to surpass last year’s full-year rate of 25.4%. It is down from its peak of 28.7% in all of 2023. Year-to-date, the rate of exiting CEOs who are women has held steady at 23%.
· Government/non-profit led all industries with 40 CEO exits in July, down from 48 in June but up from 30 in July 2025. Year-to-date, the sector has recorded 282 exits, the most of any industry and essentially level with the 286 recorded in the same period last year.
· Technology followed with 13 CEO exits in July, down from 15 in June but up from 11 in July 2025. The sector's year-to-date total of 107 trails last year's 149, a 28% decline.
· Financial firms and services each announced 6 CEO exits in July. Services has recorded 46 exits year-to-date, down 46% from 85 a year earlier, the steepest decline among the larger sectors.
· CEOs stepping down led all reasons in July with 41 exits, followed by retired with 32. Together the two categories accounted for just over 60% of the month's departures. Year-to-date, 296 CEOs have stepped down and 277 have retired.
· Leaving for a new opportunity accounted for 15 July exits, and resigned drove 9.
· Other reasons for CEO departures in July include restructuring, personal reasons, acquisition/merger, differences with board, new position within the company and death.
· Notably, 18 of the CEOs who departed in July were founders of the companies they led, bringing the year-to-date total of founder exits to 114. Founder departures often signal maturation events, capital raises, or generational transitions in family- and founder-owned businesses.
