CEO Turnover and Imposter Syndrome: Navigating Leadership in a VUCA World

Business leaders face increasing turnover challenges in today's dynamic corporate environment.

Overview

In 2024, CEO turnover reached unprecedented levels, with 2,221 CEOs stepping down—a 16% increase from 2023 and the highest since tracking began in 2002 . Notably, 373 CEOs from public companies departed, marking a 24% rise from the previous year . This trend underscores the mounting pressures leaders face in today's volatile, uncertain, complex, and ambiguous (VUCA) environment.

Key Drivers of CEO Turnover

• Investor Activism: In 2024, activist investors were instrumental in the departure of 27 CEOs, reflecting a growing demand for leadership changes over traditional strategies like mergers and acquisitions.

  
  

• Technological Disruption: The tech sector experienced a 90% increase in CEO turnover, with 40 leaders exiting in 2024. The rapid evolution of AI and digital infrastructure has intensified the need for adaptable leadership.

  
  

• Burnout and Role Complexity: The expanding scope of CEO responsibilities, including navigating technological changes and heightened public scrutiny, has led to increased burnout, prompting many to step down.

  
  

Imposter Syndrome Among CEOs

A 2024 Korn Ferry survey revealed that 71% of U.S. CEOs experience symptoms of imposter syndrome, feeling uncertain about their leadership capabilities despite their positions . This phenomenon is more prevalent among senior executives than early-career professionals, highlighting the psychological toll of top-tier leadership.

Implications for Leadership Development

The convergence of high turnover rates and widespread imposter syndrome signals a critical need for systemic team coaching and adaptive leadership development. These approaches can equip leaders with the tools to navigate the complexities of the modern business landscape, fostering resilience and effective decision-making in the face of constant change.

Conclusion

The current landscape of elevated CEO turnover and prevalent imposter syndrome reflects the challenges of leading in a VUCA world. Addressing these issues through targeted coaching and leadership development is essential for cultivating effective, adaptable leaders capable of steering organizations through uncertainty.

References

1. Challenger, Gray & Christmas, Inc. (2025). CEO Resignations Hit Record Levels As Business Uncertainty Grows. The Business Journals+5Forbes+5Challenger, Gray & Christmas, Inc.+5

2. Russell Reynolds (2024) Global CEO Turnover Index Annual Report

3. Korn Ferry. (2024). 71% of U.S. CEOs Experience Imposter Syndrome, New Korn Ferry Research Finds. Korn Ferry

4. Russell Reynolds Associates. (2025). The Transformation of the CEO: Global CEO Turnover Index Annual Report. Harvard Law Corporate Governance Blog+1Axios+1

5. Barron's. (2024). Activists Turn to Firing CEOs as M&A Slumps. Barron's

6. Bizwomen. (2025). Burnout, AI, private equity drove record CEO turnover in 2024.

7. Forbes. (2025). CEO Resignations Hit Record Levels As Buiness Uncertainty Grows.