The number of chief executive exits at U.S. companies soared 52% in May compared with the same month last year, according to the latest report from executive coaching and outplacement services company Challenger, Gray & Christmas Inc. There were 150 CEO exits for the month, including US Foods Holding Corp.'s /zigman2/quotes/202988961/composite USFD +0.52% Pietro Satriano. There have been 668 CEO departures for the year so far, the most since the firm began tracking CEO movement in 2002. "Economic conditions, rising inflation, and recession concerns are making boards rethink leadership and leaders rethink if they want to take on these challenges," said Andrew Challenger, senior vice president of Challenger, Gray & Christmas, in a statement. Government and nonprofits led the way with 154 departures for the year so far, followed by tech companies with 63. There have been 155 retirements in 2022, and 183 CEOs moved into other roles at the company, usually board chair or CEO advisor.
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- XUS Foods Holding Corp. (USFD)