6 CEOs Ousted After a Major Screw-Up
For Americans, there’s a certain thrill and sense of satisfaction that comes with watching someone end up on the receiving end of the ceremonial axe. Whether it be the leader of a corrupt nation or the CEO of an underperforming corporation, everyone likes to see individuals held accountable for their action and output. The major difference, of course, is that most CEOs end up leaving their companies from the safety of a golden parachute rather than be dragged through the streets by an army of dissidents.
Some executives see their tenure end as disappointing growth is revealed, sales tank, or stock prices hit all time lows. Others become victims of their own overconfidence or incompetence. Still, others find ways to soil their public image to such an extent that a company is forced to publicly distance itself from their toxicity. While there are many examples of each, a new batch of freshly scuttled CEOs are sitting pretty on hefty severance packages, waiting for the next opportunity to grab the reins of a desperate venture, or try their hand at lobbying or consulting.
The past several years has brought with it a new smattering of firings and resignations from sectors all across the business spectrum. Data breaches, violent behavior, and harassment charges are all reasons some of those executives have found themselves on the outside looking in, with some more deserving than others. There are many others that should probably be joining their ranks if it were up to public opinion.
Here are six CEOs whose administrations were cut short due to colossal failure that occurred either on their watch, or as a result of their own actions.