CEO Turnover Hits Record High – That Means More Corporate Events
CEOs are stepping down in record numbers, and every change is generating strategy sessions, town halls, and offsites that are boosting the corporate events industry.
In the first quarter of 2025 alone, 646 CEOs exited their roles. A historic high, according to Challenger, Gray & Christmas. At this pace, the year could mark the highest turnover rate in more than two decades.
'New CEOs must bring their people together,' said Michael Dominguez, president and CEO of Associated Luxury Hotels International. 'There are town halls, strategy meetings, leadership meetings. Often, they will also bring in consultants to craft strategies that drive more meetings. Clients will also be brought together, especially if the CEO is unknown to the group.'
The impact on the events industry is already visible.
After Brian Niccol was named CEO of Starbucks in September 2024, the coffee chain hosted its largest leadership event ever. In June, more than 14,000 store leaders gathered in Las Vegas for the Starbucks Leadership Experience, its first major leadership conference since 2019.
Hyundai Motor Company moved quickly after a leadership change. José Muñoz became president and CEO on January 1, and one of his first major acts was convening more than 800 employees for a town hall to outline the vision for the future.
At Ulta Beauty, newly appointed CEO Kecia Steelman represented the company at J.P. Morgan's Annual Retail Round Up Conference in April.
Antonio Filosa, the new CEO of Stellantis, the world's fourth-largest automaker, is also prioritizing in-person gatherings. He is bringing together executives from the company's 14 brands for a leadership gathering in Amsterdam in early July.
The pattern isn't limited to major global corporations.
'Small to medium-sized businesses make up 70% of the economy,' said Dominguez. 'They may not be having meetings at the scale of Starbucks, but they too are gathering key stakeholders.'
These Aren't One-Off CEO Events
These meetings will not be one-and-done. 'The cycle of gatherings will continue as they change how their businesses are run focusing on technology, efficiencies, and AI,' said Dominguez. 'Plus the aggressive moves back to offices and campuses will require more time together to work through the disruption.'
'A surge in meetings following the shake-up in CEO leadership reveals a dynamic shift in strategy and vision,' said Simone Seiler, global general manager, FCM Meetings & Events. 'Organizations are using in-person interactions to ride the waves of change.'
Whether leading thousands or hundreds, new CEOs are leaning into the power of in-person meetings to chart the course ahead, and that's keeping event venues, planners, and suppliers busy.
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