Of course I had to ask the question.
CEO turnover varies by industry, company, and other factors, but here are some general statistics:
Overall: In 2023, the average tenure for a CEO was 8.1 years.
Gender: In 2023, women CEOs had an average tenure of 4.1 years, compared to 8.7 years for men.
Internal vs. external hires: Internal CEO hires tend to have longer tenures than external hires, by about 1.4 years.
First-time CEOs: First-time CEOs tend to have longer tenures than CEOs with previous CEO experience, by about 2.1 years.
Korn Ferry research: 11% of newly appointed CEOs leave within their first year, and 34% leave within their third year.
Private equity: In the private equity sector, 58% of CEOs are replaced within two years of an investment.
Harvard Business Review: Involuntary turnover is almost four times higher when the CEO changes.