A report released in late December revealed that by the end of November 2024, 1,991 CEOs had announced plans to depart, the highest number on record since 2002, when global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. first issued this annual report. In comparison, 1,914 CEOs left their posts in 2023, and only 1,235 in 2022. CEOs are leaving privately held firms, non-profits, government agencies, and publicly traded companies across industries as varied as aerospace and apparel. Among those companies with CEO exits in 2024 are giants such as Boeing, Nike, Peloton, WeightWatchers, and Intel.

David Calhoun Leaves Boeing

David Calhoun announced in March that he was stepping down as Boeing’s CEO after 4 years in the position. Calhoun has been succeeded by Kelly Ortberg, whose first day as CEO was August 8.

Exiting, Calhoun remarked that Boeing would “remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.” The company has been striving to recover from the aftermath of two 737 MAX 8 crashes several years ago and a January 2024 incident in which a Boeing 737 MAX plane’s door plug panel detached mid-flight. In the first three quarters of 2024, Boeing reported 291 commercial plane deliveries and 76 defense, space, and security aircraft deliveries.

Barry McCarthy Exits Peloton

Ford executive Peter Stern is the new CEO of fitness company Peloton, which had previously appointed two interim CEOs (Karen Boone and Chris Bruzzo) following Barry McCarthy’s departure in May. Known for its sales of exercise bikes, treadmills, and rowing machines, Peloton saw significant growth during the pandemic, when consumers unable to attend traditional gyms during quarantine sought equipment for home workouts. In the last couple of years, as consumers have returned to gyms and demand has dropped, Peloton has engaged in cost-cutting and marketing efforts to expand its customer base.

Other Notable Departures

Sima Sistani left WW International in late September after 2.5 years as CEO. To mark the end of her tenure as CEO of WeightWatchers, which closed the third quarter of 2024 with 3.7 million subscribers, Tara Comonte was named interim CEO.

Nike saw a change in October, with John Donahoe retiring after 4.5 years as CEO. However, he pledged to remain as an executive “to ensure a smooth transition through January 31, 2025.” Previous Nike executive Elliott Hill came out of retirement to take the position.

Pat Gelsinger, who had served as Intel’s CEO since February 2021, retired at the beginning of September. David Zinsner and Michelle Johnston Holthaus have been tapped as interim co-CEOs. Gelsinger’s departure comes during an eventful time for the company, which now plans to spend $20 billion on a chipmaking hub.

More Interim CEOs, Fewer Women Executives

The Challenger, Gray & Christmas report finds that “stepped down” is cited as the driver for most departures. As exits have increased, so has the use of interim CEOs, with 13% of 2024 replacements being interim, compared to just 7% in 2023.

At the same time, the percentage of women CEOs has dropped slightly, down to 27.7% from 28.0% in 2023. Women were also more likely than male CEOs to be named to interim rather than permanent positions, with 15% of women CEOs in interim positions in 2024 compared to 12% of male CEOs. In 2023, both men and women were named to interim positions 7% of the time.