By Jessica DiNapoli

(Reuters) – CEO turnover spiked in the first half of 2021, as companies tapped new talent to navigate the aftermath of the COVID-19 pandemic and stressed-out chief executives sought a career change, a study from recruiting firm Heidrick & Struggles (NASDAQ:) found.

This study shows that even CEOs don’t have to be immune to exhaustion, which has hit hundreds of million of workers around the world since the start of the pandemic. It has forced many people to look for new jobs and lifestyles in an era known as “The Great Resignation.”

Jeff Sanders, co managing partner at Heidrick’s global CEO and board office said that “our belief is it will accelerate going into next year because people have delayed retirements.”

Out of the 1,095 businesses in 24 countries that Heidrick examined, 103 were appointed as CEOs in 2021’s first half. This includes some European nations and the United States.

According to the study, 49 companies had changed their CEOs six months before, during the second half 2020.

As they dealt with the pandemic, most companies maintained their leadership positions last year. As the pandemic subsided, however, Sanders stated that companies were able to choose a leader who was stable enough.

Sanders stated that many CEOs did not have to travel as often, which allowed them to conserve their energy. However, he stated that it was difficult to communicate “virtually”, in a new medium.

Study found that internal applicants were more popular than those who are unable to visit CEO candidates in person or take risks with outsiders during the pandemic. Nearly three quarters (23%) of all new CEOs were interned candidates. That’s an improvement from the just over 50% who applied in 2020.

In the first half this year’s report, 13% of new CEOs were women. This is an increase of 6% from the previous period.

The study found that diversity has not improved with the rise of churn. According to the study, 3 percent of Fortune 100 CEOs is Black; 4% Hispanic or Latino; 4% and 1% respectively are Asians. These numbers are lower than what they represent in America’s population.

Sanders declared, “I do not believe that (CEO diversity), is what it should be.”