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I never fully understood why CEO:s resign when there's a scandal. Like, stay on and clean up the mess you made instead of bailing with a golden parachute?
by brtkdotse 3y ago
I never fully understood why CEO:s resign when there's a scandal. Like, stay on and clean up the mess you made instead of bailing with a golden parachute?
- sigmoid10 3y agoHe's probably just leaving before they can kick him out. If the article is true, he withheld key information on the accident from the DMV. The board of directors would probably have to fire him anyways, so he just saved himself from an even worse headline and a bad remark on his CV.
- JohnFen 3y agoOne of the jobs a CEO may be called on to perform is to take the hit to protect the company.
- jstarfish 3y ago> I never fully understood why CEO:s resign when there's a scandal. Like, stay on and clean up the mess you made instead of bailing with a golden parachute? There's no point in trusting them to clean up the mess when their job was to foster a culture of preventing it in the first place. They failed at leadership itself. No point in having a golden parachute either if you never get put in the position of invoking it.