CEO departures are on pace to hit the highest level on record this year. The primary reason for CEOs leaving is stepping down and retirement, the firm said. Some CEOs entered new companies and a handful of left because of a merger/acquisitions or scandals.
Steve Easterbrook (McDonald’s)
McDonald’s fired its CEO Steve Easterbrook on charges of having an affair with an employee of the company. Fast-food chain Macdonald called the allegations a violation of company policy. However, the company has not provided information about the employee with whom Easterbrook had a relationship.
Adam Neumann (WeWork)
Neumann agreed to resign as CEO and give up majority voting control of the firm in September after SoftBank Group Corp and other shareholders turned on him over a fall in the company’s expected valuation ahead of a planned IPO.
Binny Bansal (Flipkart)
Flipkart Group CEO Binny Bansal resigned allegedly following an inquiry into “serious personal misconduct”. In late July accusation of sexual assault was made against Binny by someone who is not part of Flipkart. This subject was investigated by a law firm that was hired by Walmart and Flipkart which turned out to be false later on.
Jan Singer (Victoria’s Secret)
Victoria’s Secret CEO Jan Singer, who had come to the company two years earlier from Spanx, left from her post amid news of declining sales. She was replaced by former Tory Burch president John Mehas.
Kevin burns (Juul)
Kevin Burns, CEO of Juul resigned after numerous investigations into the products and promotion of the e-cigarette company. Besides, there was a disturbing rise in steam-related lung condition in the US, which killed 9 people.
Devin Wenig (eBay)
Devin Wenig stepped down from the role of CEO over disagreements with activist investors regarding the company’s strategy for the future. He was a former manager at Reuters and later joined the firm eight years ago. He was elected to the role of CEO role in July 2015.
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