Liberum's executive turnover data for August 2013 showed a somewhat confusing trend for the American economy. All four key executive turnover categories (CEOs, CFOs, C-level Execs and Board of Directors) saw percentage declines from the same month a year earlier yet, August saw increases in each of the four key categories from the previous month of July 2013. The somewhat confusing trend for August was also seen in the latest monthly employment numbers released by the U.S. Department of Labor's Bureau of Labor Statistics (BLS) and ADP's August Employment Report. August's Liberum Research's executive turnover data trended closely with the August monthly Employment Data released from the U.S. Department of Labor's Bureau of Labor Statistics (BLS) and from ADP's August Employment Report. Despite August's tepid numbers, Liberum expects excutive turnvoer to trend upward as we move into the fall.
According to the BLS August Employment Report released September 6th, which was not as good as Analysts expected,:
Total nonfarm payroll employment increased by 169,000 in August, and the unemployment rate was little changed at 7.3 percent...
Private sector employment increased by 176,000 jobs from July to August...
Below is a breakdown of Liberum's key executive category percentage changes for August 2013 compared with August a year earlier and the previous month of July 2013.
- For August 2013 CEO changes declined 13% from a year earlier, CFO changes declined 5%, overall C-level (as defined by Liberum Research as board of directors, CEOs, CFOs down to corporate VPs) changes declined 6% and board of director changes declined 3% as compared with August 2012 totals.
- The month to month change in executive turnover (July 2013 to August 2013) showed a somewhat different picture with an 8% increase in CEOs, CFO changes increased 25%, overall C-level changes increased a mere 2% and board of director changes increased 14%, respectively.
Below are the overall turnover figures for August.
KEY CEO CHANGES - AUGUST 201367 COMPANIES WITH CEO CHANGES WORTH RE-EXAMINING
According to Liberum's Management Change Database, a total of 206 CEO related changes occurred during August 2013. Here are a whopping 67 from the time period that caught my eye. By significant, I'm looking for situations where I think a particularly strong or weak choice has been made - given the apparent current state of the company - or where there is an interesting special situation.
DATE COMPANY TICKER EXCHANGE MARKET CAP $ MILLIONS
08-01 Globalwise Invest GWIV OBB 5
08-01 The Marcus Corporation MCS NYSE 355
08-01 Weight Watchers Int'l, Inc. WTW NYSE 2152
08-02 Elite Pharma Inc ELTP OBB
08-02 Liposcience, Inc. LPDX NASDAQ 78
08-02 Rock-Tenn Company RKT NYSE 8451
08-05 Patapsco Bancorp PATD OBB 5
08-07 Bacterin Internat BONE NYSE 26
08-07 Groupon, Inc. GRPN NASDAQ 7026
08-07 Murphy Oil Corp MUR NYSE 13191
08-07 Selectica, Inc. SLTC NASDAQ 21
08-08 Islet Sciences, I ISLT OTN 25
08-08 Red Lion Hotels Corp RLH NYSE 116
08-08 Shoretel, Inc. SHOR NASDAQ 259
08-08 Standex Int'l Corp. SXI NYSE 760
08-08 Thompson Crk Mtls TC NYSE 582
08-09 American Woodmark Corp AMWD NASDAQ 494
08-09 Merge Technologies Inc MRGE NASDAQ 231
08-09 Semgroup Corporat SEMG NYSE 2316
08-09 United Community Fin Corp UCFC NASDAQ 178
08-12 Lot78, Inc LOTE OTN 71
08-13 Liberty Energy Co LBYE OTN 4
08-14 American Stad Ene ASEN OTN 12
08-14 Pure Bioscience PURE OTN 10
08-14 Silverstar Mining SLVM OTN 446
08-15 Global Digital So GDSI OTN 31
08-15 Jbi, Inc. JBII OTN 36
08-15 LTC Properties, Inc. LTC NYSE 1269
08-15 Sync2 Networks Co SYNW OTN 721
08-15 The First Marblehead Corp FMD NYSE 175
08-16 A.P. Pharma, Inc. APPA OBB 129
08-16 Start Scientific STSC OTN 109
08-18 Catalyst Paper CYSTF OTN 15
08-19 United Silver Cor USCZF OTN 2
08-19 Yancoal Australia YACAF OTN 875
08-20 Agricon Global Co AGRC OTN 11
08-20 Bae Systems BA LSS 143
08-20 Smtp Inc SMTP OBB 15
08-20 Washington REIT WRE NYSE 1625
08-21 Central European Media CETV NASDAQ 584
08-21 Ssh Communication SCSYF 96
08-21 Vestas Wind Syste VWS FRA
08-21 Viewcast.Com VCST OBB 4
08-22 Invivo Therapeuti NVIV OBB 310
08-22 Lsl Property Serv LSLPF OTN 737
08-22 Skyline Medical I SKLN OTN 36
08-23 Green Mountain Coffee Roasters GMCR NASDAQ 13063
08-23 Microsoft Corporation MSFT NASDAQ 275100
08-23 Sierra Vista Bank SVBA OTN 9
08-23 Solar Power, Inc. SOPW OTN 20
08-23 Solta Medical, In SLTM NASDAQ 171
08-23 Zumtobel Ag ZMTBF OTN 518
08-26 Blackbaud, Inc. BLKB NASDAQ 1619
08-26 Echo Therapeutics ECTE NASDAQ 26
08-26 Integrated Device IDTI NASDAQ 1335
08-26 John Bean Tech Co JBT NYSE 684
08-26 Nexus Enterprise NXES OTN 5
08-26 Wesdome Gold Mine WDO TOR 71
08-27 Harvard Bioscience, Inc. HBIO NASDAQ 151
08-27 Monarchy Resource MONK OBB 6
08-28 Insignia Systems, ISIG NASDAQ 34
08-28 Waters Corporatio WAT NYSE 8397
08-29 On the Move Sys C OMVS OTN 4
08-30 Altair Nanotechnologies, Inc. ALTI NASDAQ 27
08-30 New Jersey Mining NJMC OTN 3
08-30 Psm Holdings Inc PSMH OBB 12
08-30 Redfin Network In RFNN OTN 340
AUGUST 2013 MANAGEMENT CHANGE STATISTICS
C-LEVEL MANAGEMENT CHANGE STATISTICS
GRAND TOTAL - 1440
GRAND TOTAL - 1440
TOP INDUSTRY SECTORS
> Banking - 119
> Metals/Mining - 112
> Drugs/Biotech - 111
> Metals/Mining - 112
> Drugs/Biotech - 111
AUGUST 2013 CEO CHANGE STATISTICS
GRAND TOTAL - 206
GRAND TOTAL - 206
TOP INDUSTRY SECTORS
>MetalsMining - 24
>Drugs/Biotech - 21
>Energy - 20
>Drugs/Biotech - 21
>Energy - 20
AUGUST 2013 CFO CHANGE STATISTICS
GRAND TOTAL - 205
GRAND TOTAL - 205
TOP INDUSTRY SECTORS
>Metals/Mining - 25
>Drugs/Biotech - 23
>Banking - 17
>Drugs/Biotech - 23
>Banking - 17
>Energy - 17
AUGUST 2013 BOARD OF DIRECTOR CHANGE STATISTICS
GRAND TOTAL - 524
GRAND TOTAL - 524
TOP INDUSTRY SECTORS
>Metals/Mining - 54
>Drugs/Biotech - 36
>Energy - 36
>Drugs/Biotech - 36
>Energy - 36
