Report: Florida leads the South in CEO exits

It’s not always great to be No. 1. A recent study released by Challenger, Gray & Christmas, a Chicago-based firm focused on outplacement services for executives, found Florida led the region in CEO exits for January 2025 and the entirety of 2024. 

In the Sunshine State, 118 CEOs parted ways across various industries last year and 13 left their posts in January 2025, the report found. Overall, it is an 18.8% decline from 16 Florida CEO departures in January 2024. Some of the most common reasons for exits were retirement, new opportunity and interim periods ending, according to a statement. Less common reasons include mergers and acquisitions, differences with the board and termination. 

Courtesy image

“Due to the ongoing political and economic uncertainty, many companies may find now to be a prudent time to change leadership,” says Andrew Challenger, senior vice president and labor expert for Challenger, Gray & Christmas in a released statement.

The west leads the country so far this year in CEO transitions with 72 departures. California had the most exits in the country, clocking 23 departures. The fewest transitions occurred in the Midwest, with Kansas having one CEO departure in January.

Challenger, Gray & Christmas has kept track of CEO turnover since 2002.