2019 has seen a mass exodus of CEOs in the US via YahooFinance
In just the past few weeks, the top executives at major U.S. companies including WeWork, eBay , and Juul have left or been forced out of their posts — but they are just the latest exits in a year with an unusually high number of CEO departures.
As of the end of August, 1,009 CEOs had decamped from their firms, 15% more than the 879 who had left as of August the previous year. Why are so many CEOs leaving their posts this year? Some may have been pushed out, as is the case of WeWork CEO Adam Neumann, whose erratic behavior made headlines as the co-working space company geared up to go public.
Other CEOs like Bloomin’ Brands Liz Smith explicitly left because of a “planned succession.” And while the occasional CEO like marijuana company Canopy Growth’s Bruce Linton might shout from the rooftops that they got canned, the real reasons for many top-chief departures may never be known. While the report used that context to determine the presence of “high pressure,” it found that only 2.9% of CEOs were ousted with a specific reference to misconduct. The above graphic shows major CEO departures announced in 2019. Indeed, CEOs who were explicitly axed were few and far between. Wells Fargo’s Tim Sloan officially “retired,” but his resignation came suddenly and after a seemingly never-ending series of scandals.
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