This essay which is an event study aims to examine if an announcement of a CEO exchange actually is course-affecting information. The essay study’s if a variation can be detected in the share price in relation to an announcement of a CEO exchange. The study also aims to examine if the characteristics; age, number of years at the post, and compensation to the CEO effects the share price progress. The study embraces 46 companies from eight different line of business. The companies are registered at the Stockholm stock exchange or the Nordic Growth Market. We have examined the results for all companies altogether and for each line of business.