The number of chief executives who left their posts surged in February to the highest level since September 2008, when the economy was rocked by the financial crisis. Chief executive departures jumped 48% to 132 in February, from 89 in January, according to a report out Wednesday from Challenger, Gray & Christmas, Inc., an outplacement consultancy. That's the highest level of turnover in the corner office since 140 CEOs left office in September, 2008.

Last month's total was also up 61% from February, 2009.

"For the past 12 to 18 months, companies needed leaders who could see them through the recession," said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.

"Now, they are reassessing and, in many cases, replacing executives with those who are better equipped to take advantage of expansion," he said.

So far in 2010 a total of 221 CEO's vacated their seats, well ahead of the 196 chiefs during the same period last year, according to the report.

Health care has seen the most turnover this year, with 35 departures, followed by the government and non-profit sector which saw 23 leaders step down, and the energy sector, which had 16 CEO's leave this year.

Challenger expects to see CEO departures continue to climb.

"As the economy improves and companies try to improve their competitive position through mergers and acquisitions," said Challenger, "we will see more and more top executives leave the newly combined companies."