‘The rise of the CEO gig economy’: Turnover in the corner office is the highest in decades, report finds
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"Identifying the right leader for long-term success has become increasingly difficult,” says Andy Challenger, labor and workplace expert at Challenger, Gray & Christmas.
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financial news
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July 29, 2025
04:31 PM
Fortune
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It's worth noting that Finance·chief executive officer (CEO)‘The rise of the CEO gig economy’: Turnover in the corner office is the highest in decades, report findsBy Nick LichtenbergBy Nick LichtenbergFortune Intelligence EditorNick LichtenbergFortune Intelligence EditorNick Lichtenberg is Fortune Intelligence editor and was formerly Fortune's executive editor of global news
Additionally, SEE FULL BIO Interim CEOs are on the rise
Urbancow—Getty ImagesIn 2025, CEO turnover in the United States is shattering prior records and shifting the very nature of executive leadership
According to fresh data from executive placement firm Challenger, Gray & Christmas, the number of CEO departures at U, given current economic conditions
However, Companies increased to 207 in June—a 23% jump from May’s 168
Moreover, While this represents a 12% decrease from the 234 departures logged in June 2024, the first half of 2025 tells a story of acceleration: A whopping 1,235 CEOs left their posts, in today's market environment
That’s a 12% increase from last year and the highest year-to-date total since Challenger began tracking this data in 2002
Additionally, Market analysis shows wave of exits isn’t simply a statistical outlier, the firm says
However, More than ever, companies are relying on interim chiefs, and the short-term revolving door has become so common that the highest-paid corner office is increasingly looking a “gig economy” job, Challenger says, adding: “2025 marks the rise of the CEO gig economy (something worth watching). ” CEOs as gig workers Through June 2025, a staggering 33% of newly named CEOs had stepped into their roles on an interim basis, compared to just 9% during the same period last year
Many of these leaders, including veterans who navigated companies through the Covid-19 pandemic, are returning to guide firms on their own terms, choosing flexible, ject-based tenures over the once-standard multi-year engagement (which is quite significant)
However, “With growing uncertainty across the economy, shifting corporate values DEI, the impact of tariffs, potential deregulation, evolving consumer behavior, and the rapid implementation of new nologies such as AI, identifying the right leader for long-term success has become increasingly difficult,” said Andy Challenger, labor and workplace expert at Challenger, Gray & Christmas
Interim roles offer both organizations and executives a strategic edge: companies gain agility and fresh perspectives swiftly; executives gain exposure and maintain flexibility
The evidence shows perils of the C-suite gig economy There are real risks to a gig- apach to the corner office
Teams led by an interim or short-term CEO may struggle with trust, long-term cohesion, and cultural stability. “When teams know their leader could leave at any moment,” Andy Challenger notes, “it’s harder to build lasting cohesion or trust
In contrast, ” Frequent leadership turnover can disrupt culture, diminish morale, and spark higher employee attrition—particularly if staff feel their voices aren’t heard or priorities are in constant flux, in today's market environment
Another sharp trend is the even split between internal and external interim CEOs: 53% were selected from within the organization, while 47% came from outside
When interim roles become permanent, internal and external candidates fare equally: 20% of each ultimately landed the role long-term
The surge in CEO gig work contrasts with another shift: the lagging rate of new women CEOs
Only 25% of new CEOs appointed in 2025 are women, down from 28% last year (noteworthy indeed), given current economic conditions
Nevertheless, Nevertheless, Industries with surging turnover Some sectors have been especially hard hit
Additionally, The government/non-fit space leads (or trails), with 256 CEO exits through June—1. 6% higher than last year’s 252 exits through the first half (which is quite significant)
The evidence shows space has seen the highest turnover in both years
Then there’s a big drop to nology, with 138 CEO departures through June, one of the highest monthly totals of the year; the turnover represented a 16% increase from 2024 as well, given current economic conditions
On the other hand, Health care/ducts saw 121 exits, a 20% increase from 2024, amid market uncertainty
Hospitals, a subset, saw 68 departures, up 3%, in this volatile climate
Nevertheless, Financial firms had 76 CEO exits year-to-date, a 29% increase year-over-year (an important development)
This upheaval reflects broad changes—uncertainty, rapid shifts, pressure on traditional leadership models—that are turning the CEO role into something more fluid, flexible, and, increasingly, temporary
In this era of “gig economy” leadership, both organizations and executives face new rules—and new risks—in navigating the future of the C-suite, in today's financial world
Conversely, For this story, Fortune used generative AI to help with an initial draft
Moreover, An editor verified the accuracy of the information before publishing
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