CEO departures increase

Turnover among chief executive officers was up 10% in a year-over-year comparison in the first quarter of 2010, according to a report released by Challenger, Gray, and Christmas, Inc.

Overall, 340 executive departures were announced in this year's first quarter, as opposed to 309 similar announcements in the first three months of last year.

While resignation and retirement were the top two most commonly cited reasons for the departures, Challenger's own chief executive, John Challenger, interpreted the results more broadly.

“As the recovery takes hold, boards are likely to become increasingly impatient with leaders who fail to achieve results,” Challenger suggested. “Companies want top executives that will maximize opportunities in the recovery. Each missed opportunity is a check against that executive.”

The report also tabbed health care as the industry with the greatest number of chief executive departures, with 56 so far this year.