“The Rise of CEO Gig Economy”: Turning off at the Corner Office is the best in decades, report found
In 2025, CEO turnover in the US has shattered previous records and shifted the nature of executive leadership. According to new data from executive placement companies Challenger, Gray & Christmasthe number of CEO departures at US companies increased to 207 in June. 23% jump from 168 in May. This represents a 12% decline from the 234 deviations recorded in June 2024, but the first half of 2025 tells a story of acceleration. This is a 12% increase from last year, the highest total of the year since Challengers began tracking this data in 2002.
The exit wave is not simply a statistical outlier, the company says. More than ever, businesses rely on interim chiefs, and short-term revolving doors are becoming so commonplace that the highest paying corner offices are increasingly appearing to be “gig economy” jobs.
CEO as a gig worker
Until June 2025, 33% of newly appointed CEOs were tentatively entering their roles, compared to just 9% in the same period last year.. Many of these leaders, including veterans who have navigated businesses throughout the Covid-19 pandemic, have returned to steer the company on their terms, choosing a flexible project-based tenure with the old standard perennial engagement..
“Due to growing uncertainty across the economy, changing corporate value such as DEI, the impact of tariffs, potential deregulation, evolution of consumer behavior, and the rapid implementation of new technologies such as AI has made it increasingly difficult to identify the right leaders for long-term success.
The interim role provides strategic advantages for both organizations and executives. Companies quickly gain agility and fresh perspective. Executives gain exposure and maintain flexibility.
The dangers of C-Suite Gig Economy
There is a real risk in a gig-like approach to the corner office. Teams led by interim or short-term CEOs can struggle with trust, long-term cohesion and cultural stability. “When a team knows that leaders can leave at any time,” Andy Challenger said, “It’s difficult to build lasting unity and trust.” Frequent leadership turnover can disrupt culture, lower morale and cause higher employee wear. Especially when staff feel they can’t hear their voices or their priorities are constantly fluid..
Another sharp trend is that it is evenly divided between the internal and external interim CEOs. 53% were selected from within the organization, and 47% came from outside. When the interim role becomes permanent, internal and external candidates will charge equally fares. 20% of each eventually acquired a role in the long term.
The surge in CEO gig work contrasts with another shift, namely, a delay rate for new female CEOs. Only 25% of new CEOs appointed in 2025 are women, down from 28% last year.
Industry with rapid turnover
Some sectors have been particularly huge hits. Government/nonprofit space is the lead (or trail), with 256 CEOs leaving until June, 1.6% higher than the 252 exits up until the first half of last year. Space has achieved the highest turnover rate in both years.
After that, there was a big drop in technology, with 138 CEOs leaving until June, one of the best totals of the year. The turnover rate represents an increase of 16% from 2024. In healthcare/products, there were 121 exits, up 20% from 2024. A subset of hospitals has 68 departures, up 3%. The financial company has 76 CEO exits from the previous year, an increase of 29% from the previous year.
This drastic change reflects a wide range of changes, including certainty, rapid technological changes and pressure on traditional leadership models, which are becoming more fluid, flexible and increasingly temporary changes to CEO roles. In this era of “gig economy” leadership, both organizations and executives face new rules and new risks navigating the future of C-Suite..
For this story, luck Generated AI was used to assist with initial drafts. The editors checked the accuracy of the information prior to publication.