Based on the data of A-share listed companies in China from 2000 to 2020, whether industrial policy affects general manager turnover probability is examined, and the impact of policy characteristics and firm characteristics on the relationship between the two is studied. The empirical results show that companies that receive industrial policy support are more likely to change general manager. The greater the intensity of industrial policy support, the greater the possibility of general manager change, which is manifested in the fact that key industrial policies are more likely to be supported than general industrial policies. Industrial policies coordinated with local governments have a greater impact on corporate general manager turnover than independent industrial policies.Dynamic analysis shows that the impact of industrial policies on general manager turnover mainly occurs in the first, second and fifth phases of policy promulgation and implementation. The heterogeneity analysis shows that in monopolistic industries, large-scale enterprises, and enterprises with a higher general manager shareholding ratio, the impact of industrial policy on general manager turnover will be weakened.