This is a bit off topic from my usual posts, but I could not let this intriguing occurrence slip by without notice.
Have you noticed the alarming number of CEO s stepping down from their positions in the past few months?
CNBC: 2019 was the year of CEO exits. Thanks to 160 chiefs leaving their posts in December, 2019 totaled 1,640 departures by the heads of U.S. businesses, higher than the 1,484 exits in 2008 when the country was embroiled in the financial crisis.
CNN:Several notable executives have stepped down or announced that they’re stepping down in 2020. In fact, January 2020 set a record for the most CEO departures in the US in one month — 219 in all.
Here is a short list of a few:
Bob Iger has stepped down as CEO of the Walt Disney Company (DIS), effective immediately. … Iger has assumed the role of executive chairman and will direct the company’s creative endeavors, the company said. Iger will stay on at Disney through the end of this contract on December 31, 2021.
Bill Gates is stepping down from the boards of Microsoft and Berkshire Hathaway. In a press release Friday, Microsoft announced that its 64-year-old co-founder was leaving its board to “dedicate more time to his philanthropic priorities.” 6 days ago, FOX NEWS
New York (CNN Business) LinkedIn CEO Jeff Weiner will habve to update his profile. He’s stepping down from the role after being at the helm for the professional networking service for more than decade.Feb 5, 2020
Mark Parker stepped down as Nike’s CEO 13 January 2020 after 13 years leading the footwear company.
Parker, 64, has been a Nike employee since 1979, rising through the ranks and holding such positions as product designer and co-brand president. He was appointed CEO in 2006.
Under Armour CEO and founder Kevin Plank is stepping back from the position, the company announced Tuesday. He will be replaced by current chief operating officer Patrik Frisk, who will assume the position on January 1, 2020
Feb 25, 2020- Mastercard’s chief executive officer of 10 years, Ajay Banga, will step down the company said on Tuesday, and be replaced by Chief Product Officer Michael Miebach
New York(CNN Business) Jason Droege stepped down from Uber Eats. The Uber exec, Jason Droege, who launched Eats in December 2015 and helped grow it into the company’s second-largest revenue source behind its core ride-hailing business.
Mandy Ginsberg, the CEO of the company that oversees Tinder, Hinge, OKCupid, and Match, announced on January 28 that she’s stepping down after 14 years, citing personal reasons.
Adam Bierman, CEO, and co-founder of the cannabis company MedMen, stepped down on February
Terry Booth, the CEO of Aurora Cannabis, announced he was stepping down and retiring on February 6
Les Wexner, CEO of L Brands, a retail company that includes Victoria’s Secret and Bath & Body Works, stepped down on February 20 after almost 60 years. He was the longest-tenured CEO of any Fortune 500 company at the time
That is only a few. These CEOs were successful and in their position for years, then ‘boom’ they decide to step down.
I’m not going to say it’s a suspicious conspiracy of some kind…I’m just not saying it…😊 I can think of a few interesting scenarios.
I’d love to hear your theories, though.