Fewer CEOs are leaving, and more leadership seats are being filled from outside
Welcome to the first edition of The Right Piece.
Every leadership hire is a puzzle. The resume is only one piece. Fit, timing, culture and where your company is headed matter just as much.
Each month, I'll share what I'm seeing in executive and leadership hiring, a few numbers worth knowing, and practical questions to ask before your next big hire.
Why I Started Piece Partners
After more than 30 years in recruiting and talent, from director-level roles up to the C-suite, I launched Piece Partners in September.
What has always carried me is relationships and an honest read on people. More than 55 LinkedIn recommendations later, I decided it was time to build something with my own name on it.
Piece Partners is a women-owned firm focused on executive search, professional recruiting, talent strategy and coaching. We partner with staffing and recruiting firms, healthcare, technology and industrial organizations, and private equity and venture capital firms.
The idea behind the name is simple: the right leader is the piece that changes everything. My job is to find that piece, not just fill a seat.
The Top Seat Is Settling Down. The Hiring Bar Isn't.
After a record-breaking 2025, CEO exits slowed sharply in the first half of 2026. 920 U.S. CEOs left their roles from January through June, down 26% from 1,235 in the same period last year.
But look at how those seats are being filled.
Interim CEOs: 13% of new CEOs, down from 22%
Outside hires: 46% of new CEOs came from outside the company (about 1 in 3 at public companies)
Women: 27.4% of new CEOs, up from 25.4%
Source: Challenger, Gray & Christmas, June 2026 CEO Turnover Report. Figures are year-to-date through June for U.S. companies, compared with the same period in 2025.
My take: boards are done with placeholders. Fewer interims means companies want a leader who can own the seat from day one. When nearly half look outside, the search itself has to be sharper - because the cost of getting it wrong is higher than ever.
Before Your Next Senior Hire
Three questions I ask every client before we open a VP-level or C-suite search:
What does this leader need to accomplish in the first 12 months? Not the job description - the outcomes. If you can't name three, the search isn't ready yet.
Are you hiring for where you've been, or where you're going? The person who held the seat five years ago may not be the person you need next.
What would make this hire fail? Culture, team dynamics, a boss who won't let go. The best searches plan for the risks up front, not after the offer is signed.
One Question Worth Asking
If you rebuilt your leadership team from scratch today, which seat would you fill first - and would the person in it now be your first call?
That answer usually tells you where your next search should start.
Have a Leadership Seat on Your Mind?
If you're planning a senior hire, or quietly wondering whether you have the right person in a key seat, I'd love to talk it through. No pitch, just a conversation.
Let's connect, or reach out at michelle@thepiecepartners.com.
The right people. The right fit. Every piece matters.
Michelle Culp, Founder, Piece Partners
Want more insights like this? Please follow Piece Partners on LinkedIn so you never miss an edition.
