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This study investigates the demography and timing of principal demotion in order to assess whether it is a differential experience by race and gender. We used an administrative dataset from Texas spanning 1999–2017, inclusive of all administrators (principals and APs), which contains 10,417 observations. We find that principals who are demoted to an AP role are more likely to be Black and Hispanic, and to work in schools with higher proportions of nonwhite students and students who are FRL-eligible. Principals of color are more likely to experience demotions early in their principalships. Finally, experience matters: for every additional year of experience in the assistant principal role, the odds of that principal experiencing a demotion decreases by 17.5%.