Houston Chronicle (Houston, TX)

Houston Chronicle Loren Steffy column.(backdating stock options)(Column)

Byline: Loren Steffy

Nov. 15--It's been a tough year for America's executives.

Amid all the investigations into backdated stock options, complaints about soaring pay packages and investor impatience, executives have been heading for the door at a record pace.

In the first 10 months of the year, more than 1,200 chief executives hit the bricks, an 11 percent increase from the same period a year earlier, according to Challenger, Gray & Christmas, a Chicago executive search firm that tracks executive turnover.

Another firm, Liberum Research, says more than 21,000 executives, from vice presidents to CEOs, left during the first three quarters of the year, more than double last year's rate.

Some of the departures, of course, are the result of executives behaving badly. …

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