The number of CEOs leaving their posts in October fell to its lowest level in 18 months. The drop seems to show that the volatile job market, at least among corporate chiefs, appears to be stabilizing.
Last month, 81 CEOs parted ways with their employers, down 27 percent from the 111 departures recorded in September, according to the report compiled by global employment-services firm Challenger, Gray & Christmas.
Government and nonprofit organizations had the highest number of turnovers in October, with nine CEOs departing. So far in 2010, government and nonprofits combined have announced 141 CEO departures, ranking second only to the health-care industry, which has reported 173 this year, including eight in October.
In its report, Challenger noted that criticism of CEO compensation has grown increasingly vocal during the last year. Corporate boards for the most part have defended the generous pay packages even as CEOs have less room for error.
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