CEO departures mostly flat in May

Turnover among the nation’s top executives was mostly flat in May as 98 CEOs announced their departure.

Last month’s total was up 4.3 percent from the 94 CEO departures in April but was down 5.8 percent from the 104 CEO changes announced during the same month a year ago, according to a report issued Wednesday by Challenger, Gray & Christmas, a firm that tracks labor market trends.

{mosads}Through the first five months of the year, U.S.-based companies have announced 558 CEO changes, 10.1 percent more than the 507 CEO exits tracked in the first five months of 2013.

Government/non-profit entities, which include universities, foundations and chambers of commerce, led departures last month with 21. 

Health organizations were second with 20.

So far this year, 125 healthcare CEOs have left their offices, which is nearly 32 percent more than last year.

California-based organizations saw the heaviest CEO turnover in May with 13 top executives announcing their departures.

Texas and New York announced eight changes.

Retirement was the top reason for departures in May with 24, while another 22 cited resignation for their exits.

Meanwhile, 21 CEOs stepped down into other positions within their firms and three were fired.

The highest-profile CEO departure last month as the resignation of former Target CEO Gregg Steinhafel, who stepped down several months after hackers compromised millions of credit card data.