In the high-stakes world of corporate leadership, a seismic shift is underway as chief executives increasingly treat their roles like short-term gigs, mirroring the flexibility long associated with freelance workers. Recent data reveals that CEO turnover in the U.S. has surged to unprecedented levels in 2025, with more than 1,200 departures recorded in the first half of the year alone—a 20% increase over the previous record set in 2023. This churn isn’t just about firings or retirements; it’s reshaping how boards approach succession, often opting for interim leaders to bridge gaps amid economic uncertainty and rapid technological change.

Interim CEOs, once rare stopgaps, now account for a third of all new appointments, according to a survey by executive search firm Heidrick & Struggles highlighted in an Axios report. These temporary helmsmen, frequently drawn from retired executives or internal candidates, are stepping in to stabilize companies during turbulent times, such as mergers or scandals. The trend reflects broader pressures: activist investors demanding quicker results, the rise of AI-driven disruptions, and a post-pandemic reevaluation of work-life balance even at the top.

The Interim Boom: Why Boards Are Embracing Short-Term Fixes

This “CEO gig economy,” as coined in a recent Fortune analysis, draws parallels to platforms like Uber or Upwork, where talent is on-demand and commitments are fluid. Data from Challenger, Gray & Christmas, a global outplacement firm, shows that CEO exits hit a record high through May 2025, with year-to-date figures surpassing any prior period since tracking began in 2002. The government and nonprofit sectors lead the pack, but tech and finance aren’t far behind, where boards face scrutiny over governance and innovation pace.

Veteran leaders are capitalizing on this flux, offering their expertise for six to 18 months at premium pay—often exceeding $1 million plus equity—without the long-term entanglements. As one anonymous board member told Fortune, “It’s like hiring a consultant with a corner office.” This model reduces risks for companies navigating economic headwinds, including inflation and supply-chain woes, while allowing executives to build portfolios of high-impact stints.

Industry Variations and Underlying Causes

Turnover varies sharply by sector: tech firms report a 25% spike in CEO changes, driven by AI integration demands, per a CEO Magazine piece updated with 2025 insights. In contrast, manufacturing sees slower churn but more interim roles to manage geopolitical risks. Posts on X from industry watchers, such as those from Techstrong.IT, highlight how AI pressures and board activism are accelerating this “leadership evolution,” with users noting a decline in long-tenured CEOs from an average of eight years a decade ago to under five now.

Economic factors compound the issue. With U.S. GDP growth slowing to 2.1% in Q2 2025, boards are quicker to pull the trigger on underperformers, echoing sentiments in a BizToc summary of recent reports. The gig mindset also stems from executives’ own burnout; a Challenger survey found 40% of departing CEOs citing personal reasons, up from 25% pre-pandemic.

Implications for Corporate Governance and Talent Pipelines

This transient leadership model poses risks, including disrupted strategic continuity and cultural erosion. Companies like those in the S&P 500 are investing heavily in succession planning, with boards expanding searches to include non-traditional candidates, such as former startup founders adept at agile pivots. Yet, the upside is evident: interim CEOs often deliver quick wins, like cost-cutting or digital overhauls, boosting stock prices by an average of 5% in the first quarter post-appointment, according to Heidrick data.

Looking ahead, experts predict this trend will intensify as Generation Z enters the C-suite, valuing flexibility over loyalty. A Washington Business Journal archived report notes that while turnover slowed slightly in May, the year-to-date record suggests a new normal. For industry insiders, the message is clear: adaptability isn’t just for workers—it’s now the CEO’s mantra, transforming the corner office from a lifetime perch to a high-stakes gig. As one X post from a recruiter aptly put it, corporate America is “flipping the script” on power dynamics, making even top jobs feel precarious.