Exodus of executives at FTSE 350 firms

The number of bosses exiting FTSE 350 companies more than doubled last year amid turmoil in the British economy.

Some 38 chief executives left their roles at Britain’s top firms in 2022, up from just 18 the previous year, recruitment firm Russell Reynolds Associates (RRA) said.

In the red: Some 38 chief executives left their roles at Britain’s top firms in 2022, up from just 18 the previous year

Turnover of bosses was more concentrated in the mid-cap FTSE 250, where departures surged 150 per cent to 25 last year. 

The FTSE 100, meanwhile, saw chief executive exits jump 63 per cent to 13. 

RRA highlighted that while the UK’s listed companies had seen a ‘particularly tumultuous year’, globally 175 bosses had left the world’s top firms, a five-year high and a 32 per cent increase on 2021.

RRA managing director Luke Meynell said the pandemic and Brexit had created a ‘greater level of change and instability’ for UK bosses to deal with.