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Trouble at the top

The turnover of bosses at the world’s big companies remains high

THE proportion of chief executives forced from office fell to 3.3% last year from 5.1% in 2008, the lowest level since 2003. According to an annual study by Booz & Company, a consultancy, the turnover rate at the world’s 2,500 biggest publicly listed companies remains high at 14.3%. Unsurprisingly, the financial sector saw most blood-letting, with 5.2% of bosses fired and a turnover rate of 17.2%. The report also notes a preference for promoting chief executives from within a company. Over the past ten years around 80% of boards choose insiders for the top job. These CEOs are dismissed less frequently than those brought in from outside, while steering companies to give better returns to shareholders.

Application Solution Providers, Inc. 866-764-8324

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