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CEOs fired for ethical lapses hit new high as complaints soared
[SOUTHFIELD] A record 18 per cent of chief executive officers were replaced last year, with more top executives forced out for ethical lapses than were fired for poor performance or disagreements with their boards, according to a PwC study released Wednesday.
In a year dominated with revelations about harassment and other behavioral miscues, about 39 per cent of the top executives dismissed had been accused of ethical lapses, according to the study of turnover among the top 2,500 global public companies.
It was the first time ethical lapses led the causes of CEO turnover in the study's 19-year history.
The analysis also found that the share of incoming female CEOs dipped to 4.9 per cent, off the record pace of 6 per cent in 2017.