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I've only seen a CEO let go once in my career. And it wasn't due to performance, it was due to an alleged sexual assault which quietly and quickly disappeared.
by falcolas 4y ago
I've only seen a CEO let go once in my career. And it wasn't due to performance, it was due to an alleged sexual assault which quietly and quickly disappeared.
I imagine with the various golden parachute clauses and valuable social connections with other companies (I'd wager there's some skeletons in closets being held hostage too), it's too damned expensive to let a CEO go for anything less than a scandal.
- JamesianP 4y agoWell if a company's stock is down 42 percent like the average for fired CEO's in the article, it may also be way more expensive to keep them. Are you counting CEO's that retired (ergo possibly forced out nicely) to spend time with family or whatever?
- falcolas 4y agoHaven't had any of those. My sample size is not huge (a dozen or so), but only one CEO departure. Take it as you wish.
- andirk 4y agoI've seen a few leave willingly to other similar companies before ever succeeding at the current one, or even doing poorly. The qualifications for the next CEO position seems to be that one was a CEO before, regardless of performance. Much like DC, after a certain level on the org chart, one "fails up".