Serial chiefs. When it comes to CEOs, some are in it for the long run, some adopt a “one and done” approach, and some make it a habit to collect as many proverbial corporate accolades as possible, jumping from one CEO appointment to the next in an attempt to guide myriad companies to the path of glory — yet, these serial CEOs are becoming increasingly uncommon, according to The Financial Times.

Starting fresh…again. For established CEOs, there’s an allure to taking the reigns of an already-established company. For one, they’ve done it before; tough decisions prove easier to make, they come armed with a fresh perspective ready to take on new challenges, and — perhaps most importantly — passion becomes easier to reignite. Dara Khosrowshahi, Uber CEO, is one such serial CEO, having been at the helm of Expedia for 12 years prior to his appointment at the ride-sharing tech company. Luca de Meo — who has recently been appointed CEO of Gucci-owning Kering — is the textbook definition of a serial CEO. de Meo held six different CEO positions throughout his career, leading Fiat, Alpha Romeo, and — until recently — Renault. But not all CEOs share the same aspirations.

High reward comes with pressure — but sometimes the latter proves far too difficult to navigate. An increasing number of CEOs are opting for a “one and done” approach when it comes to their c-suite appointments, according to FT. Company hopping, once valued by board members for fresh perspectives, is now a rare phenomenon. CEOs are choosing to exit entirely right after they peak — lest they find themselves back in square one. The past few years proved particularly gruesome to CEOs as they struggled to navigate rising economic challenges and the added pressure of AI.

Let’s talk numbers. Last year saw an increase in the number of CEOs stepping into the role for the very first time, comprising 85% of incoming CEOs, according to Russell Reynold’s 2024 Global CEO Turnover Index Annual Report — pushing serial CEOs to the minority for the seventh year in a row. The report also notes that 2024 saw 202 CEO departures, up from a six-year average of 186. A significant percentage of this figure was in the tech industry. So, why are CEOs calling it a day?

Doing everything, everywhere, all at once can get exhausting. The numbers should be surprising — yet in retrospect, they aren’t. “The path to retiring with your reputation intact is narrow and for many leaders, once is enough,” Russell Reynolds executive Laura Sanderson, tells FT.

Some 27 CEOs were forced to resign by activist investors in 2024, according to a Barclays report. From economic turmoil to disruptive tech, many established CEOs are choosing retirement over public scrutiny, with an increasing number of potential first-timers outright declining CEO opportunities, according to FT. Burnout also proves a pivotal factor in many CEOs’ decisions to jump ship, driving them to less taxing boardroom positions, should they choose not to retire.

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