The number of management changes at public companies–from directors down to vice presidents–nearly doubled last month, from 762 in July to 1,463 in August, according to Liberum Research, a company that tracks changes in top management for investors interested in buying or selling stocks based on such news. The number of management changes in August exceeded monthly averages of around 1100 that Liberum had been tracking prior to July. Richard Jacovitz, Liberum’s senior vice president and director of research, thinks the spike in August might have compensated for the drop off in management changes in July, which in turn might have been due to summertime lulls in business activity.
Among the changes in August, Liberum counted 185 CEO changes at public companies in August compared with 71 the previous month; 172 CFO changes in August compared with 80 in July; and 17 CIO changes in August (I counted 19.)
Liberum’s research suggests to me that we’ll likely see increased amounts of CIO turnover in the next couple of months as these new CEOs set new business strategies and assemble their own new management teams to execute them.
Among the companies hiring and losing CEOs in August according to Liberum Research were Callaway Golf, Symbol Technologies, Adolor Corp., Cray Inc., Magic Software, Lattice Semiconductor, Doral Financial, Torvec Inc. and BKF Capital. We’ll see if these companies hire new IT execs in the coming year. If you get one of these jobs, you might want to check out CIO’s Ten Survival Tactics for Your First Year on the Job.
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