In 2023, many CEOs of major companies stepped down, a trend that continues to rise this year. Meek Mill questioned why so many leaders are leaving their positions, and all 19 CEOs in the meme have actually stepped down from their posts. The reasons for these departures were not fake, but they had nothing to do with the current economic climate. Some investors were calling for measures to address the situation.
In 2018, Holmes stepped down as CEO after being charged with fraud. A jury found Holmes guilty of conspiracy to defraud investors and three counts of conspiracy. Narasimhan also stepped down in August, and some investors were calling for measures. CEO turnover surged in 2024, with top executives facing job insecurity like never before. Forbes reported that 2024 has been a big year for CEO turnover, with over 500 CEOs leaving their jobs in 2022.
American CEOs are leaving their posts in record numbers in 2023. While the “Great Resignation” may be over, it’s just beginning for CEOs. Fitness company sales boomed during the Covid pandemic, but sales collapsed as the world reopened. Meek Mill questioned why so many CEOs of huge corporations are choosing to vacate their positions.
Fresh data on how many workers in the economy are quitting or changing jobs comes out, and the Irish entrepreneur stepped down as leader of one of the world’s largest tech conferences following remarks he made about Israel and war.
📹 Why A Record Number of CEOs Are “Resigning”
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📹 Breaking down the ‘dangerousness’ of Sean ‘Diddy’ Combs and the charges against him
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The cool thing is none of it is based on actual value creation in the industry their brand represents. Is the coffee better? The service? The location? Are there more customers? No. As CEO NONE of that matters. All you have to do is agree with the board of directors that they are right, make it look like you’ve cut costs on paper, collect the checks, and then wait for another corporation to offer you a pay package. You are being paid so much that “raises” are irrelevant.
CEOs job is to make sure the COO, CTO, CFO (basically the real professionals with marketable skill sets) do what the board wants. That’s it. They’re a baby sitter whose job it is to make sure the board gets put before the clients, shareholders, and employees in company decisions. That’s why CEOs are always on the board of other companies.
A good portion of CEOs out there are just mediocre glorietized bureaucrats who were appointed because of their malability and didn’t threaten anybody in management. Not because they are innovative, insightful or capable. A capable visionary In such a position can threaten people in management and the board of directors. Corporate America at this point in time is extremely risk-adverse and shortsighted. A lot of corporation these days are like government bureaucracies but they sell things.
If you’ve ever been behind the counter of a Chipotle, you will notice two things. 1. The staff are ALL BABIES, including the store manager. Young people typically take the lowest pay because they are at the beginning of their career and just due to financial insecurity. 2. It’s disgustingly filthy. The stores are chronically understaffed, and there is no incentive for employees who are there to actually care. Add in the woeful lack of decent support services (like I.T.) and you start to see a pattern. CEOs know how to make money, and the shareholders are happy by doing so. But these companies are failing us. And it won’t last forever.
Imagine getting up at the ass crack of dawn and going to work your shit, underpaid job when some preppy finance bro is making millions as “Chief Amazement Officer.” And then you vote against higher pay and labor protections because you still fool yourself into thinking that you will ever be as rich as them.
Why are unions demonized and workers are told company doesn’t have money. But then they always have money for CEO and executives, companies join corporate unions/ boards/ think tanks and are fisting America but workers are lazy and stupid?. What I really love about topics like this is, “blue collar” workers are the most anti union and collective because they are stupid enough to think they are inside the castle and are just a few years from being millionaires.
“Chief Enthusiasm Officer”, “Chief Amazement Officer”, “Chief Heart Officer”…….the USA really is in the last death throes of late stage capitalism. The mediocrity of Boeing, Twitter, Tesla, Kroger, Crowdstrike, John Deere, GM, Ford, Stellantis, Broadcom/VMWare, Intel are fast becoming the norm for all American corporations. I have pity for people who have to live through this for the next 60 years.
Before perusal the article: Because they can easily, immediately find a cushy job with less responsibility elsewhere. After perusal the article: Because they can either stop working altogether and live a nice live scot free or they can easily, immediately find a cushy job with less responsibility elsewhere. Also, “turnaround CEO” is something unions should learn to identify and combat asap. Also, hustle gurus are soon gonna become your next CEO, “Chief Enthusiasm Officer”. That’s just great💀
It seems to be that having a CEO is a bad business model. They tend to “maximize profits” at the expense of employee retention, and the quality of the product or service they offer. The CEO is tempted to do this to generate maximum return for the investors, and retain their position of money and power.. Over time, these actions tend to “hollow out” the corporation, and make it less competitive, until it is superseded by a company or corporation that hasn’t forgotten that it’s employees are it’s life-blood and that it’s product or service is WHY people give them money in the first place.
I remember back in the 90s when everyone was calling for CEO salaries to be tied to stock performance. Now stock performance is the be all/end all and services and products slide down the priority list. So you get the Intels and Boeings where engineers are serfs and marketers/accountants/lawyers drive the biz off a cliff.
Wife works at Starbucks. Called it when this was announced. Bro was going into cut benefits and increase work load. StarB has aprox half the number of employees it did 2 – 4yrs ago. With that Adobe, they’ve doubled the workload without increasing pay. Workers need to stop showing up on mass when this stuff happens.
My father was a top executive when he had one more year before his retirement. The company gave him six months salary as compensation and fired him. Classic cost cutting. He got pay worth 6 months with NOT having to go to work while the company saved his salary worth 6 months which I suppose it utilised to pay managers. He now earns triple the amount he was paid by investing in real estate, gold and mutual funds.
Executive positions are just rich people food stamps. Young billy just graduated from plush ivy school #3 and he needs a real job. Give him a Chief Happiness Officer position so he can get real work experience and then he’ll be able to retire in 3 years with 5 homes, a super yacht and free investment money. You could eliminate 99.9999% of all executive positions in America, and you’d see productivity and profits increase by 10,000% EZ.
The thing I want to point out is the average CEO salary being about 16m. I understand that it’s probably a difficult job being a CEO but that’s just too much. 1% of that salary being 160k would be life changing for so many people who just want to be able to buy a modest house. Currently my family lives like we are broke, make decent money, have only a modest car payment as our only debt and yet we can’t afford a run down shack in a very rural area.
I watched the career of a “Turnaround CEO” – cuts wildly, alienates faithful staff, departs – business later discovers that complaints from staff on changes re safety, bad treatment of customers, and corporate memory were actually serious warnings. Serious legal problems follow. Meanwhile, the ex-CEO is just starting on the business after the business after that one. Look into the performance/reputation of a company before the “turnaround” CEO and 2 or 3 years after the CEO left if you are thinking of investing in a company which is hiring that person.
Interesting insight. It makes sense that, like many things, the trend we’re seeing of things “falling” right now is because they reached an all-time high in the last few years. It’s a shame most of the comments seem to come from people bitter about others’ success rather than seeking to understand anything described here.
My high schooler has been working at our local chipotle for a year this month and says it’s a awful. In that time, all the managers who were there when he started have left, and he’s had 7 new managers, 3 new store managers. There’s 1 store mgr & 2 mgrs per location. We actually eat less chipotle now than ever, and his friends don’t go either because of how awful the internal operations are these data. FYI, for the Starbucks fans that this is likely the future for Starbucks.
Timely and fine report. Wouldnt be complete without i,ncludong the most cringeworth one: : CEO of a non-profit with $7M annual Salary whom, unoddly,also stepped down while raking it in last minute..before downzizing during HIGH DEMAND for their services.. while workers laid off due to “NO Profits” claims. Talking about Firefox. Sadly.
4:00 Ahh yes, these kind of investment firms. They’re why mom and dad are currently suffering/getting murdered in their mismanaged nursing home. In reality, these firms get blood from stone and ruin everything. In many industries, there’s rarely more genuine efficiencies to exploit. They lower quality and use scummy tactics to increase the valuation of their investment. They thus destabilize industries and people probably die from it (See nursing homes). And the average consumer in, say, the restaurant industry gets less value than ever before.
It’s often a vicious circle: CEOs are focused on quarterly results, thereby neglecting sustainable management, and a long-term well-being of the company. This in turn leads to a poor performance of the company because the health of the company is slowly but steadily eroding, and this will then lead to the shareholders being unsatisfied with the companies performance, and consequently, the CEO will be kicked out.
Insane to pay a man over 100 million dollars to union bust and sake workers. Do no ceos or management believe in a happy worker is a good worker anymore? Like thats a philosophy that helped some British family businesses like roundtrees to last over a hundred years (granted its own by nestle now i think)
CEOs in the financial world are just the QBs or the star of the starting 5. They may impact the team if you have a real star, not one that is out for glory but one that is truly about the betterment of the company/ team. But these bigwigs that don’t care about the betterment of the company and care about using it as a vehicle to produce massive returns, will buy out a good CEO with a good track record, throw him in the chair to try to fix stuff as much as you can, but we are really in it for the headlines that are gonna sell the shares on the idea that this is gonna impvrove the business. Obviously sometimes it all works out and thats fine, but big CEO moves are to generate retail cash, sell our massive position to the public, then when it fizzles out in 5 months buy back in.
They are not “employees just like any other”. Management is separate from line employees which are both separate from the owners. Upper management often is compensated with stock options along with salary. It is the job of the Board of Directors to supervise management on behalf of the owners and it’s management’s job to supervise line employees so that the company can operate smoothly and remain a “going concern” – a profitable operation.
I get anxiety attacks thinking of running a stagnated business. If your job isn’t innovation and growth, what are you really doing? The MBA tango where you cut overhead, and plunge large parts of your turnover into marketing to cover up the fact that you haven’t added any value to the product in over a decade? There is only one position that’s worse: working under those people. Thank the gods I’m an entrepreneur.
In the UK we are going through a near unprecedented stagnation in productivity growth. It seems to largely be due to lack of business investment. I wonder to what extent is the very short term quest for profit to blame. It encourages cost cutting over long term investment. Some of that precived “dead wood” might actually be very knowledgeable and useful whose removal might be deleterious in the medium to long term. Also maybe the best thing for the company is to invest now in people and technology, but it will hurt the bottom line in next years annual report. As our CEOs, political leaders and indeed our societies get older I think there has been more of a focus on the now, at the expense of the future.
My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to make investments. Saving is great but investing puts you on a pedestal where you wouldnt have to worry about savings as you do now. With Jasmine Querida, my portolio is doing really great and im proud of the decisions i made last year.
The system is unfairly designed to work against the employees and towards the older generation of “CEO”s who already has a track record of stuff. They are the face of a company but they tend to do more harm to the employees than good. Every employee would agree that employees are heavily underpaid whilst managers and CEOs are very overpaid . This is clearly because CEOs are tightly coupled to the stocks as mentioned in this article. Hypothetically, what if a brilliant group of hackers got together and managed to force large companies to go under, making things inoperable for days and weeks. To make matters worse, the hackers would publicly denounce that the fault is at the Company’s poor management structure. (preventing public media from covering this up as a mistake like they did with Crowdstrike). This could serve as a catalyst for broader debates about the importance of management and raise scrutiny of executive pay and corporate governance.
I’m still looking forward to the article where you say, “well, I’ve been avoiding this since the beginning but the truth is money doesn’t work and it’s so frustrating how many of you are still perusal me in case I share the secret to endless riches. Even if endless riches were possible, such secrets existed, and I knew them, I have no reason to share them. On top of that, if such secrets existed, there’s no way they could be used by anyone but those already on their way to riches, anyway.”
Mr. Money Works, for some reason I feel like you’d have a good answer to this question and I would appreciate greatly any input you had on the matter: With the decline of the American Empire in it’s early stages, what countries do you think could weather the store of the upcoming economic storm while still providing a good quality of life for it’s citizens? (healthcare, currency strength, cost of living, etc)
Where I worked the company had a million dollar buy out clause to deter the company from being bought out. Well we got bought out without a fight, the CEO’s and upper managers got their gold parachutes and all retired. Meanwhile our average raise went from 5.5% to 0.01%. The new owners had to recoup their money somehow.
My immediate take when I saw this article in my feed: Controversy and seeing what’s ahead. They don’t want to be in the highest position of power in a company when they can sense the consequences of their actions closing in on them. They’re obviously still with their company, just not in the hot seat until it’s safe to sit down again. And that may not be for a while given the current state of the economy they’ve had a hand in causing.
You missed the biggest reason why CEOs are leaving right now … we’re headed into / in a recession. CEOs can’t control very well for external factors outside their control, so they are leaving now rather than accept blame for declining performance they can’t do anything about. I’ve often said you can tell how well a company is really doing by looking at how long the CFO sticks around; they know where the bodies are buried. Likewise, the CEO should be able tell which way the wind will be blowing and get out while they can. Starbucks is failing because they took away or deemphasized all the traits that made their experience worth the premium, effectively recommoditizing themselves. In a recession, people go for the cheaper alternatives. No CEO can fix that, so the only real so,union for Starbucks is to out price competitors or cut costs to weather the recession until spending comes back.
I tend to disagree that being a CEO is “just a regular job”. These positions are not publicly available. The wages are not haggled down, but go up much more than a regular worker’s wage. You cannot convice me some confirmed sexual deviants like Bobby Kotick are more than 300 times as productive as a regular developer.
They are scouting for better financial opportunities, collaborating with new business ventures especially startups, nascent corporates which are more challenging presenting them an opportunity to learn and looking forward to learning new skills or hobbies which they couldn’t pursue for pressing professional needs or economic compulsions earlier in life.
The reasons detailed in this article for the resignations of CEOs are not entirely novel; they are generally consistent with the factors that have historically influenced CEO turnover. The increase in the number of resignations, as highlighted in the article, appears to be more of a culmination or intensification of these existing factors rather than entirely new reasons. The title of the article could indeed be seen as slightly misleading if it suggests unique reasons for the current spike in CEO resignations. In reality, the article seems to discuss an increase in the frequency of these well-understood factors—like pressure from activist investors, alignment of incentives, and market conditions—rather than introducing fundamentally new catalysts.
CEO: Alright, we’ve flooded your beloved franchises with woke media, political messaging and completely demolished w/e loyal fanbase their was by attacking those who call it out. Now that my job is done I’ll reture and leave it to the next guy to handle the rest. Queue long articles on layoffs as the new CEOs try to gut the cancer from these companies/franchises and remakes/remasters of the original games/movies to try and reignite interest.
CEO are the ones that make shareholders happy for the next quarter not caring a damn about mid to long term earnings or well being of the company in general. They earn millions by getting hired and earn millions more by leaving. The ones taking the most damage out of their short term money making policy are the bottom line of a company, the middle-lower class people.
Serious question.. how do golden parachutes “make shareholders feel at ease”? Usually by the time we hear about the severance, we already know those CEOs did something stupid that lowered the stock price, a huge golden parachute doesn’t signal they did a good job.. why would it? More seems at best unrelated to performance, and at worst the desperation of the board to get them out of there. And on top of that, it should show the shareholders that the board is willing to throw away obscene amounts of money on less than nothing, instead of growing the value of the company. And btw, I am a very small shareholder, but I can’t imagine a major shareholder would feel like this positively reflects on the performance of the company at all either.. at most they would just be happy to keep or increase the status quo of golden parachutes, since major individual shareholders are usually C-suite execs themselves, or friends/family with many of them.
How can we get rid of these guys? All they do is take 97% of the profits, tell everyone to work harder we’re struggling, then lay everyone off. Liquidation sale! Ah, you saved us, thank you for your support. Liquidation sale!!!! We might not make it this time! Oh, thank God, you saved us again. Boy, I have a stressful job!
Reminder that the graph of Starbuck’s stock value corresponds with the calls for them to stop supporting Israel’s genocide of Palestinians in Gaza and the growth of labor unions mobilizing in shops the company then revokes franchise rights for. These are both social movements from the bottom up and affected the stock values through public reputational damage. Stock traders are not insulated from the sociological and political nature of boycotts and bad press, and will sometimes respond in the market as if the company was performing badly on an economic level.
Shareholders have to learn to be comfortable with having tens if not hundreds of millions of dollars. The businesses they run practically run themselves. If you don’t make any changes to starbucks in 10 years, they would still retain all of their customers. It’s really easy, stop fucking with everything and just be happy being a mega millionaire and let your employees afford a baseline level of existence.
Their salaries are ridiculous If a company is laying off no ceo should get bonuses Not ever If a company is losing money also no bonus And profits should always dictate a percentage bonus Otherwise it’s just robbing employees and customers BOD shouldn’t be paid either. They should only get stocks if anything
Business was happening on easy mode until the end of 2022. Boomers were the largest population cohort ever, and had been dumping money into any investment for years. Now most boomers have reached retirement age and they are slowly pulling money out. Gen X are still dumping money in, but there’s not nearly enough of us to equal the investment of the boomers. It was a weird time, it’s over, and it’s not coming back. There were businesses in the last 10 years that would never succeed at any other time, and will never succeed again. Peloton? Come on.
Yep its all crap basically, get rich quick schemes nothing to do with longevity, product improvement or even knowledge of the product, those days are long gone with shareholders that control the company and want 10% returns no matter what, or they take their money out and the company becomes so exposed thinks to leverage approved by these shareholders to the point that the company cant stay afloat.
Because they made crazy money and are getting out. They took all the money from the working class now they are hitting the road. At one point these guys on average were making 17x average workers salary. So they stole from the poor,now time to relax on a beach somewhere. Imagine if they took that money and invested back into their businesses :/
Between other narcissists like him and Trump, I have wasted a lot of time and energy thinking about Trump since 2016. I am sick and tired of spending most of my 70’s of useless energy on this man. Bombarded with daily news of chaos, anger and alternative realities, he has made me crazy on some level. None of my anger or disgust about the man changed his behavior, no one seems to be able to shut him up, or lock him up. We, 81 million fired him, but like Godzilla, he came back to destroy American. In any event, my life, my mental health, is more important than Trump. I can not make this man’s insanity, make me insane. I look forward to turning the page on this abusive AH. I am sick of his gaslighting. I need a divorce from Trump for my sanity. Many of us have crossed the line, you know who you are. So, do what you have to do for yourself. Vote however you like. As for me, I am not voting for Trump or anyone like him. If I did, that would make me a fool, I do not want to be remembered as an insane fool.”:)100
Watch closely to see who’s next. Another rich and think they’re untouchable and above the law music mogul comes crashing down. These things have been going on for many, many years at the old Rooftop Roller Skating Ring in Harlem, NY, where they had a secret room above the skating ring where the nasty things took place. Yellow Panties
I’m really surprised that MSNBC is reporting this,I could see them condoning this behavior under the guys of race or some far fetched excuse for Didd that he’s the victim somehow,kudos to MSNBC for showing little back one at least,I’m guessing their bosses are doing everything they can to destroy didd which wouldnt be a real stretch, we need to hold all media accountable at all times, because they will always take liberties in reporting stories
What goes on in the dark gone come to the light, and he needs to learn that money is not everything because you can’t buy God. I don’t care what kind of atty that you have when God say something that’s what he means and he is tired of P Diddy tripping so he gone have to show him and teach him a lesson.
One of the reasons Secular music is demonic. You’re listening to people who are influenced by evil. Life is spiritual. The devil was musician. Careful what you choose to idolize in music. Jesus is the way the truth and the life. No one can go to the Father except through him.❤️ Knowing Jesus is knowing peace, protection and provision ❤️ Jesus saves, Jesus heals and Jesus grants peace
This is nothing compared to what I’m going through 😢I can’t wait I until someone looks into “Lyor Cohen” stealing my family inheritance…(island records, Bob Marley) monopoly, payola, harassment, bullying, stalking, intellectual property theft, treacherous interference, emotional damages…but because he’s not an artist this is getting all the attention
He’s finances have to be in order,his homes,his investments. I think he was told he was going to be arrested . Two weeks in his beloved city,from now on he has no control of others and worse his life. Very sad and pathetic human. The garbage collector who has worked for years with no applause is a fine human with principles and courage to live in this world. This must be a lesson to all who revere these folks with the money and fame but live shameful lives.
Who exactly do you speak up too? Who can help a person that willingly goes to a diddy party and gets drugged and thinks they are having the time of their life until they are not! Who actually cares about any individual that is not wealthy like the one they accuse? I think it takes many individuals later and some of them too also be wealthy and they must have proof. Otherwise no one in the police or legal proffesions wants to hear about these things. I have heard on youtube people talk about diddy parties for over a year now. And finally…here we are.
I think this whole thing is an interesting shamble of ridiculousness. He said it well. A year ago, you gave him a key. One full year and indictment. And you’re reviewing him since 2009. You’re tripping. And I hope his lawyers focus on questioning the timeline of this situation. This is an opportunity for a bunch of random people that need air time. The greedy behind this whole thing is gross. He will not be an example for the rest of America. This crap has been going on for centuries. It’s American culture when the lights go off?!