>> HELLO HELLO, EVERYONE
WELCOME BACK TO OUR BUSINESS
THAT'S KRISTEN SCHOLER OUT A
LITTLE MORE
CEOS AREN'T LEAVING NO JOBS AT
RECORD NUMBERS NEW DATA SHOWS
THE 3RD QUARTER OF THIS YEAR
SAW THE MOST DEPARTURES THAT
WE'VE SEEN SINCE 2008 NEW
QUARTERLY RECORD NOW STANDS AT.
JOINING US NOW
IS ANDREW CHALLENGER VICE
PRESIDENT OF CHALLENGER, GRAY
AND CHRISTMAS AND ANDY GREAT TO
HAVE YOU HERE SO JUST HOW
SIGNIFICANT ARE THESE NUMBERS.
>> YEAH, THEY ARE SIGNIFICANT
WE SAW 151 CEOS LEAN IN
SEPTEMBER
THAT'S DOWN SLIGHTLY FROM
AUGUST BUT AS YOU MENTIONED
OVER THE 3RD QUARTER OF THE
YEAR WE THOUGHT
434 AND GET IT ACTUALLY THE
HIGHEST NUMBER WE'VE EVER
RECORDED SINCE WE STARTED
TRACKING THESE NUMBERS IN
2002. THAT'S HIGHER ABOUT 2%
HIGHER THAN THE
WORST QUARTER SAW IN 2008
DURING THE GREAT RECESSION.
>> THAT'S A PRETTY BIG RED FLAG
THAT WE HAVEN'T SEEN THESE
NUMBERS SINCE THE FINANCIAL
CRISIS IN WHAT DOES THIS
PORTEND.
>> ANSWER WHY SO MANY CEOS ARE
LEAVING THEIR POST BUT
CERTAINLY PART OF IT IS TIME TO
THIS LARGER
ECONOMIC SIDE. ALL RIGHT IN THE
LARGEST EXPANSION IN AMERICAN
HISTORY, THERE'S A LOT OF CEOS
ARE CHOOSING TO
USE THIS TIME WHEN THEIR
COMPANIES HAVE BEEN SUCCESSFUL
OVER LONG PERIODS THIS DOW AND
WHILE THE COMPANY'S ON TOP, BUT
IN THE SUCCESSION AND THERE ARE
PLANS AND
AND MOVE OUT IN A GOOD
POSITION. WE'RE ALSO SEEING
THERE'S BEEN A NUMBER
OF PUMPS. IT STARTED AT THE
BEGINNING OF THIS IS AND YOUR
HOME MARKET GROWN INTO A NEW
MUCH ARE BASED ON
A LIE WHERE A NEW CEO IS
REQUIRED AT THIS RECENTLY WITH
WE WORK
NEWMAN I DON'T WEAR
COMPANY GOT 2 NEW CASES OF LICE
I WASN'T TRYING TO GO PUBLIC HE
WAS REALLY THE SENATE THE RIGHT
LEADER THAT MANUAL.
>> WHAT THE FULL SCREEN AGAIN
BECAUSE THEY THINK THE OTHER
THING THAT IT SHOWS AND THESE
THAT USUALLY THESE EXITS ARE
THE MOST FOUNDED IN THE 4TH
QUARTER WHICH WE ARE
NOW IN IS THAT THE CASE AND
PERHAPS IT'S BECAUSE THAT THIS
2 YEARS USUALLY DO END RIGHT IN
THE IN THE 4TH QUARTER.
>> YOU KNOW WE DO SEE TENNESSEE
THE MUSTANGS IT
AT THE END OF THE CERTAINLY
TIME THE FISCAL CYCLE. AND YOU
KNOW IT DOES PORTEND AND
MARTY HAD A LOT OF TIMES IT'S
IN THE 3RD QUARTER THIS MIGHT
CONTINUE THROUGHOUT THE REST OF
THE YEAR. SEEING A LOT OF
INDICATIONS THAT THIS IS NOT
THE DATE AND THIS HUGE EXODUS
>> ARE THERE ANY OF THE PEOPLE
WHO HAVE LEFT THAT ARE VERY
SIGNIFICANT THAT YOU'VE
NOTICED.
>> SIGNIFICANT ONES WE SAW THE
C
E O ALL OF THE DAY WAS PUSHED
OUT WITH ACTIVIST INVESTORS
COMING IN AND DECIDING THAT.
THE REASON A LITTLE GIRL AND
THAT COMPANY EXPERIENCED
PUBLIC, IT WASN'T A SUBSTANTIAL
AND UP WRIGHT INVESTORS
IMPORTANCE ARE EXPECTING A NET
LOSS OF GROWTH
MARKET WE ALSO SAW AND THE C E
O JEWEL WAS
WAS REPLACED. I I'M
A LONGSTANDING APPLE INDUSTRY
EXECUTIVE AS I'M NOT
THERE ARE EXAMPLE OF A COMPANY
LAUDER STARTED SOMETHING FROM
NOTHING CREATED YOU
ALL OF WHAT HAS THE COMPANY
MOVED INTO MATURE PAYS ITS LIE
AHEAD IN
NAPA GATE. HOW QUICK IS
REGULATORY ENVIRONMENT AT THE
COMPANY DECIDED THEY NEEDED A
DIFFERENT TYPE OF LEADERSHIP
THAT
AT ALL.
>> ARE THERE OTHER TRENDS THE
ALL SEE IN THE BUSINESS WORLD
ANDY BASED ON THE DATA THAT
YOU'RE TAPPED INTO.
>> YEAH THERE'S A
LOT OF IN CERTAIN SECTORS AND
SO WE'VE SEEN A LOT OF US ARE
JUST COMING OUT
TECHNOLOGY. WE'VE ALSO SEEN A
HUGE AMOUNT OF EXITS INDUSTRIAL
GOODS MANUFACTURING AND
AUTOMOTIVE. WELL,
THOSE ARE AREAS OF THE ECONOMY
WHERE NEW TECHNOLOGIES THE
OVER THIS. LONG EXPANSION
PERIOD AND NEW COMPETITORS TO
ENTER THOSE INDUSTRIES AND
LEGACY ORGANIZATIONS IS THESE
LARGE AUTOMOTIVE
COMPANIES ARE REALIZING THAT
THEY MIGHT NEED NEW
LEADERSHIP TEAM. I AM HELPING
STEER THE SHIP THROUGH THESE
NEW TECHNOLOGIES AND AND PUT
THEM ON TOP.
>> SHOW THIS GRAPHIC FOR OUR
VIEWERS ABOUT THE AVERAGE EXIT
SINCE
2002 BY MONTH WHICH IS A REALLY
FASCINATING NUMBER I BASICALLY
THE 2 HIGH WINDS IN HERE YOU
SEE SEPTEMBER JANUARY IN MAY.
>> WHAT IS IT ABOUT THOSE TIMES
THAT MAKE THAT THE MOST THE
HIGHEST AMOUNT OF TURNOUT.
>> IT IS NOT NOT SURE THERE'S A
SPECIFIC REASON FOR THOSE
MONTHS WE DO TEND TO SEE IT
YEAH IT'S PRETTY VOLATILE MONTH
TO MONTH. WHEN WE LOOK AT IT
AND QUARTER LEVEL AND GIVE US A
LITTLE BIT OF THAT A BETTER
IDEA WHEN EXITS ARE
IN ALL AND WE DO SEE THAT PART
TO THE END OF THE YEAR AND
COLDER PART OF THE MOST
SIGNIFICANT.
>> MOST IMPORTANT FOR THESE
BUSINESSES GOING TO INTO THE
HOLIDAY PERIOD AND II AND
CERTAINLY THE END OF THE YEAR.
>> THE COMPANIES TODAY ARE
POUNCING A LOT OF ISSUES ON
THEIR PLATE. ONE IS THAT
CONSUMER SPENDING IS
STILL STRONG. ALL INDICATORS IN
THERE AND THAT WAGES ARE RISING
PEOPLE ARE SPENDING MONEY AND
THAT THEY'RE GOING TO BE
SPENDING IT DURING THE
HOLIDAY SEASON. YEAH, ALL THESE
HEADWINDS THERE'S A CHANGING
REGULATORY ENVIRONMENT WE'RE IN
THE MIDST OF MULTIPLE FRONTS OF
TRADE WAR. IT'S A IT'S A
COMPLICATED ENVIRONMENT PERSEUS
THE NAVIGATE AND THAT'S WHY WE
ARE SEEING A LOT
OF BOARDS AND ORGANIZATIONS
CITING THIS TIME THEY MIGHT
NEED SOME NEW FRESH
EYES NOT.
>> GEOGRAPHICALLY ARE THERE ANY
TRENDS THAT YOU SEE I KNOW YOU
MENTIONED INDUSTRY WISE BUT.
ON A GEOGRAPHIC BASE, HIS STAR
ARE MORE CEO'S IF IT'S INTACT
GREAT LEVY AND SILK I'M VERY A
VALLEY AREA VERSUS OTHER US
CITIES ACROSS AMERICA.
>> ABSOLUTELY SOUGHT THE
LARGEST NUMBER OF EGGS THINK
IN CALIFORNIA. I DETECT A PART
OF THAT IT'S JUST THERE'S THAT
MOST ORGANIZATIONS THERE AND SO
THEY'RE GOING
AND JUST BY THE NUMBERS THE THE
MOST ACCIDENTS BUT WE ALSO SEEM
A GROWING NUMBER
OF EXITS IN THIS OUT WHERE IT'S
GOING TO COST A TRADITION OF
SEA OF THE ARCHERS PROBLEM.
INDUSTRIAL GOODS AND
MANUFACTURING ORGANIZATIONS AS
THAT AS THAT INDUSTRY IS
TICKING. AND IT'S AN ANDERSON
SOME CHA