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Key Findings:
44 announced CEO departures through Q3 2022 versus 49 in all of 2021
16% of appointed CEOs in 2022 so far are women versus 6% in all of 2021
21% of appointed CEOs in 2022 so far are external hires versus 17% in all of 2021
Equilar 500 companies have announced 44 CEO departures through the third quarter of 2022. This compares to a total of 49 announced CEO departures in all of 2021. Of the 44 CEOs, 30 departed by the end of the third quarter with 14 others expected to leave later this year or in 2023.
The average CEO lifetime pay for all 44 departing CEOs is $126.6 million, with a median of $92.4 million. Thomas M. Rutledge (Charter Communications, Inc.), whose tenure surpassed 10 years, earned the highest total CEO lifetime pay at $523.5 million. Dennis V. Arriola (Avangrid, Inc.), with a tenure of less than two years, had the lowest CEO pay at $6.6 million.
Through the third quarter of 2022, one female CEO announced her departure: Sonia Syngal (The Gap, Inc.). Seven women were appointed CEO through the third quarter of 2022, including two on an interim basis: Sara E. Nash (Bath & Body Works, Inc), Sue E. Gove (interim, Bed Bath & Beyond Inc.), Heather H. Lavallee (Voya Financial, Inc.), Jennifer W. Rumsey (Cummins Inc.), Julia A. Sloat (American Electric Power Company, Inc.), Mary N. Dillon (Foot Locker, Inc.) and Kathleen E. Johnson (Lumen Technologies, Inc.). The prevalence of women appointed as CEOs in the Equilar 500 decreased from 16% in 2020 to 6% in 2021.
Overall, external appointments decreased from 27% in 2020 to 17% in 2021. For all announced appointments through Q3 2022, 21% of CEOs appointed have been external hires.
Departures
| Company Name | Ticker | Name | Effective Date | Gender | CEO Tenure1 | CEO Lifetime Pay2 |
1Calculated as the earlier of the effective date or September 30, 2022.
2Compensation data collected since 2006.
3Co-CEO
Successors
| Company Name | Ticker | Successor | Successor Gender | Internal | Successor Previous Role |
1Acting/Interim
Senior Research Analyst at Equilar, co-authored this post.
Research Analyst at Equilar, co-authored this post.
Research Analyst at Equilar, co-authored this post.
Please contact Amit Batish, Director, Content & Communications, at abatish@equilar.com for more information on Equilar research and data analysis.
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