CEOs leave firms at fastest pace since February

Chief executives departed their companies at the fastest rate in August since early this year, according to a new report on Wednesday. 

The number rose to 104 in August, up 20 percent from July and equal to the previous quickest pace of the year in February, according to a CEO turnover survey from global outplacement consultancy Challenger, Gray & Christmas. 

The total was same as August 2011. 

“As the economy continues its slow recovery, chief executive officers are under increasing pressure to show financial gains," said John Challenger, chief executive officer of Challenger, Gray & Christmas.

The financial sector saw its heaviest CEO turnover for the year in August, as 14 chief executives left, including the announced departure of E-Trade Financial CEO Steven Freiberg, who was removed from his position amid under-performing financials.

Healthcare giant WellPoint pressured top executive Angela Braly to leave due to weak earnings; it was a similar story at Symantec, where former CEO Enrique Salem was replaced with the company’s chairman amid languishing stock prices. 

In 2012, 796 top chiefs have left their firms, 2.5 percent lower than the 814 departures posted during the same period a year ago. 

Healthcare continues to see the heaviest turnover, with 161 CEO changes in 2012, including an industry-leading 21 in August.