Mumbai: The aftermath of the COVID-19 pandemic continues to reshape corporate landscapes globally, and India is no exception. A startling report reveals that over 100 top executives from NSE-listed companies have resigned in the first 10 months of 2023, marking two consecutive years of record CEO/MD turnover. The data, compiled by primeinfobase.com for the Economic Times, indicates that 110 managing directors and chief executives bid farewell by October this year. This figure mirrors the departures recorded during the same period in 2022.
The global phenomenon of a mass exodus from the workforce, termed the ‘Great Resignation,’ finds echoes in India. Researchers attribute this trend to factors such as retirement, relocation, reconsideration, reshuffling, and reluctance. Notably, the turnover of global CEOs hit a five-year high of 11.2% in 2022, with the trend persisting in the first three quarters of 2023.
In the Indian context, 96 CEO/MD exits were recorded in the initial 10 months of 2020, with a slight drop to 93 during the corresponding period in 2021. The current surge in executive departures signifies a dynamic shift in the corporate landscape, influenced by broader global trends.
