More than 220 chief executive officers (CEOs) have changed in the US in January 2025, a rise of 14% compared to January 2024 when at least 194 CEOs exited their companies in the country, according to a report.

January’s total was the highest for the month since global outplacement and business and executive coaching firm Challenger, Gray & Christmas started tracking CEO turnover in 2002. The previous record for January occurred in 2020, when 219 CEOs left during the month.

More Interim CEOs, Fewer Women Executives

According to the above report, interim leadership has soared compared to the same month last year. In January 2025, 19% of new leaders were named on an interim basis, compared to 6% in January 2024. Men were slightly more likely to be named on an interim basis than their women counterparts. In January 2025, 17% of new women CEOs were named on an interim basis, compared to 20% men. This trend is linked to broader patterns of gender disparity in corporate leadership roles.

“The rate of new CEOs who are women fell to 26% in January 2025 from a total of 28% in 2024. It is down from 29% of women who took over the CEO role in January 2024. Meanwhile, 28% of CEOs who left their positions were women in January and 55% of those women were replaced by men. Of the 160 men who left their roles in January, 18% of them were replaced by women,” it said.

In January 2024, 21% of CEOs who left the CEO role were women, and 48% of them were replaced by men. Women replaced 20% of the 148 men who left their posts in January 2024.

What Makes the CEOs Resign?

CEOs may resign due to a variety of reasons – internal & external. It can be due to poor performance of the company, pressure from the board of directors or conflict with board members, scandal or legal issues, style of leadership or misalignment with the stakeholders, merger & acquisitions, changing market situations, succession planning, personal issues, among others.   

“Due to the ongoing political and economic uncertainty, many companies may find now to be a prudent time to change leadership,” said Andrew Challenger, senior VP and labor expert, Challenger, Gray & Christmas.

Companies are grappling with the actions of a new administration that is cutting federal spending and eliminating contracts while market fluctuations and new technologies continue to roil company plans, said Challenger, adding “it makes sense to name someone on a temporary basis, but that comes with steep costs”. 

While there are many reasons, from corporate restructuring, technological disruptions to leadership burnouts and fatigue, for CEOs exiting their roles across the world. But a survey found that 40% of CEOs considered leaving leadership roles only to improve their wellness. 

According to global leadership firm DDI that surveyed thousands of business leaders and human resources professionals, those who left were increasingly burnt out with 71% experiencing a significant increase in stress since stepping into their current role, up from 63% in 2022. 

Top CEO Departures This Year So Far 

Whatever be the reasons, their exodus is happening on a very large scale as last year many high-profile CEOs left their companies across the world, such as Boeing’s David Calhoun, Nike’s John Donahoe, Estée Lauder Companies’ Fabrizio Freda, Peloton’s Barry McCarthy, Starbucks’ Laxman Narasimhan, among others. More than 1,990 CEOs announced their resignation by the end of November 2024, marking the highest number since 2002, said the Challenger, Gray & Christmas report.      

Top executives' turnover is still continuing in 2025 as Amtrak CEO Stephen Gardner and The Container Store CEO Satish Malhotra resigned from their posts in a recent development. Even Goldman Sachs has experienced notable leadership developments recently, particularly concerning its CEO succession plan. Moreover, Tesla CEO Elon Musk is facing fresh calls to step down from the top post amid his divided focus and political ties. 

In the wake of this executive turnover trend continuing, we bring you a list of some of the top leaders who left their positions in 2025 so far.     

Stephen Gardner – CEO of Amtrak: Stephen Gardner abruptly resigned from his post at the US passenger railroad this week. The recent announcement signaled that the leadership change came down to Amtrak maintaining support from the US president. Gardner said, in a statement, that he was stepping down “to ensure that Amtrak continues to enjoy the full faith and confidence of this administration”.

Satish Malhotra – CEO of The Container Store: Malhotra has resigned from top post “to pursue other opportunities, effective immediately”, according to an internal company email. The Container Store has faced challenges in an increasingly competitive retail environment, particularly with e-commerce giants and changing consumer preferences. 

Bharat Masrani – CEO of TD Bank Group: Masrani announced his intention to retire after over 10 years leading the Toronto-headquartered banking group. The 68-year-old will officially enter retirement in April 2025. His retirement marks the end of an era for the bank, which has become one of North America's largest financial institutions under his guidance.

John Petticrew – CEO of Ferguson Marine: The interim boss of the nationalised Ferguson Marine shipyard resigned in March 2025 for "personal reasons" after just over a year in the post. His resignation raises questions about the leadership of the shipyard moving forward, especially as it is involved in high-profile contracts, including the construction of new ferries for the Scottish government.

Rodney McMullen – CEO of Kroger: He resigned in March 2025 after an internal probe found his personal conduct violated company ethics policies. The conduct is not related to financial performance, operations or reporting, and it did not involve any Kroger associates. McMullen's resignation marks a significant leadership change for one of the largest grocery chains in the US. His departure comes as Kroger continues to navigate the competitive retail landscape, including its mergers and acquisitions strategy.

Pat Gelsinger– CEO of Intel: Gelsinger resigned in March 2025 amid financial losses and layoffs, leading to the appointment of Lip-Bu Tan as the new CEO. Intel, which has faced increasing competition and challenges in the semiconductor industry, has been struggling with delays in its product development and manufacturing processes.  

Rajneet Singh Kohli – CEO of Britannia: Kohli resigned as the CEO of Britannia Industries, effective from March 14, 2025, to pursue an opportunity outside the company. He resigned after serving for over two-and-a-half years from September 2022. Kohli had succeeded Varun Berry, who was elevated to the position of vice chairman. 

Jeremy Boreing – CEO of Daily Wire: He would step down from his role as co-CEO to focus on creative projects for the company, he told staff in a memo in March 2025. Boreing's decision to step back from the leadership role marks a significant change for Daily Wire, which has rapidly expanded in the digital media and entertainment space.

Hein Schumacher – CEO of Unilever: Unilever has announced that its CEO Hein Schumacher would step down and leave the company on May 31, 2025. The decision to part ways was made by mutual agreement between Schumacher and Unilever’s board. His departure comes after a period of strategic transformation at Unilever, focused on streamlining its portfolio, sustainability initiatives, and adjusting to shifting consumer trends.

Leo Puri – independent director of HUL: Leo Puri has resigned in March 2025 due to an increase in his board commitments including his proposed appointment on the board of a global entity. Puri's resignation could impact the governance structure at HUL, a leading consumer goods company in India.

Sudhir Chaturvedi – president (global markets) of LTIMindtree: He stepped down in January 2025 to pursue new opportunities. His departure was notable given his potential as a successor to the CEO role. Chaturvedi had played a pivotal role in LTIMindtree's global expansion and market strategies, and his departure could have implications for the company’s leadership and future direction. 

José Alberto Dueñas – CEO of Panera Brands: The appointed CFO Paul Carbone as interim CEO after incumbent José Alberto Dueñas unexpectedly stepped down from the role in January this year. With Carbone now taking the reins as interim CEO, Panera Brands will likely focus on maintaining stability during this leadership transition.

Lidiane Jones – CEO of Bumble: Jones resigned in January 2025 after a tenure of about a year that was marked by about 50% decline in the company's shares. Despite efforts to steer the company through challenging market conditions, the drop in Bumble's stock value led to scrutiny over her leadership. Bumble announced that its founder Whitney Wolfe Herd would return as CEO in March 2025.