Hire Wire Nov 09 2011

Finance CEO Turnover Stays Flat in October

By julie steinberg

Finance chief executive turnover remained flat in October, according to a report by outplacement firm Challenger, Gray & Christmas.

Last month, 13 CEOs announced they would leave their positions. So far this year, 109 finance executives have departed their posts, up from 96 in the year earlier period.

The Chicago-based company tallies CEO turnover from company filings and media announcements.

Notable departures include Charles E. Haldeman Jr., the chief executive of Freddie Mac. He said he would step down from his post within the next year without giving a reason for the departure. A successor has not yet been named. Haldeman, 63, took the reins in August 2009. Lee Kennedy, interim CEO of Lender Processing Services Inc. in Jacksonville, Florida, will remain chairman of the board and will be replaced as CEO by Hugh Harris, formerly president of the financial services technology division at Fidelity National Financial.

Across all industries, 91 CEOs announced their intentions to step aside in October, down from 108 in September.

Of the 26 sectors covered in the report, the finance and computer sectors contributed the most to CEO turnover.

Write to Julie Steinberg at Julie.Steinberg@dowjones.com



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