Why Rising CEO Turnover Is Becoming a Communications Challenge
CEO turnover is rising across corporate America, and the implications for corporate communications teams are significant. New research from The Conference Board, Egon Zehnder, ESGAUGE and Semler Brossy shows that leadership changes are no longer limited to underperforming companies. They are now happening just as often at firms delivering strong shareholder returns. In the S&P 500, CEO successions among top performers jumped from 7 percent in 2024 to 12 percent in 2025. As Ariane Marchis-Mouren of The Conference Board explained, many of these departures stem from strategic realignment and long-planned transitions rather than performance problems.
For communicators, that shift changes the rhythm and expectations of CEO transitions. These moves are happening earlier, more proactively and with broader strategic intent. Large companies are leading the trend. The S&P 500 is on track for a 13 percent CEO succession rate in 2025, and boards appear increasingly willing to make changes that reflect evolving market conditions, stakeholder demands and future needs. As Chuck Gray of Egon Zehnder put it, boards are using CEO succession as a governance tool. Communications teams must now treat it as a strategic communications moment, not a reactive one.
One of the most important dynamics for comms professionals is the sharp rise in external CEO appointments. In the S&P 500, outside hires nearly doubled from 18 percent to 33 percent. That means many new CEOs are stepping into roles without an established reputation inside the company or across its stakeholder ecosystem. They need a fast, well-crafted narrative that builds trust, explains the transition and introduces their leadership style. Internal communications become crucial in those first days. Investor messaging must be crisp. Media framing must be clear. Employees need reassurance and context.
Longer-tenured CEOs stepping down add another layer of complexity. Departing S&P 500 CEOs averaged nine years in their role, up from seven. Many postponed transitions during recent volatility, and they are leaving at a moment when expectations for transformation and transparency are rising. Blair Jones of Semler Brossy described 2025 as a year of recalibration, which means communicators must be prepared for both predictable handoffs and faster, less scripted transitions driven by external pressures.
Gender diversity trends also matter for corporate communications. The number of women CEOs in the S&P 500 held flat in 2025, and progress in the Russell 3000 was minimal. After several years of growth, the plateau raises questions about representation, opportunity and leadership equity. Communications leaders will need to navigate those conversations with honesty and clarity as stakeholders continue to scrutinize corporate commitments around diversity.
The message for corporate communicators is clear. CEO turnover is now a strategic moment that must be anticipated, planned for and managed with a steady hand. The expectations around narrative, timing, transparency and alignment are rising. With more external CEOs, more proactive transitions and more complex stakeholder landscapes, communications teams sit at the center of how these leadership shifts are understood both inside and outside the company.
The companies that handle CEO transitions well will be the ones whose communications teams already have a plan in place and a clear understanding of the story they need to tell.
