CEO Turnover Increasing

I am quoted in this Yahoo Finance article:

Boards of directors are becoming more independent, holding their CEOs accountable for underperformance — both in terms of profits and stock price, David Kass, a professor of finance at the University of Maryland, told Yahoo Finance. The expected length of tenure as a CEO, on average, is declining as a result of these performance pressures, he said.

The massive stock market gains of the past two years — the S&P gained roughly 20% in 2023 and is set to gain more than that by the end of 2024 — also pose challenges to US companies. Benchmark returns are coming in well above the long-term average. And a few big winners, including the Magnificent Seven tech stocks, are separating themselves from everyone else. That’s forcing the boards of underperforming companies to pressure their CEOs for stronger results, Kass said.