Chennai: A CEO is the sole in charge of the entire management in the organization. They are the decision makers of a company and the advisers to board of directors; they encourage the employees and would try to bring changes in the business that are intended for better growth of the organization. Hence they play a very crucial role, and any changes that happen to this hot seat, like the CEO’s departure, will affect the company immensely. And the reasons for the departure could range from being ousted by the board of directors to the CEO’s will full stepping down. Let’s have a look on some of the biggest CEO departures of 2013, as listed by Forbes.
Mark Pincus
Can you believe this list includes an internet entrepreneur from America named Mark Pincus. After completing his graduation he joined Telecommunications company as a manager and he has also been Vice President for Asian Capital Partners. Since 1995 to 2003 he launched three startups of his own named Freeloader, Support.com and Tribe.net and did some acquisitions too. In 2007 he cofounded a startup called Zynga which was a company involved in developing games for social networking sites like facebook and many more. Zynga had grown as a $1 billion company in 4 years but after that there was a sudden fall in company’s stock which led Pincus to step down from the post of CEO.
Steve Ballmer
After 33 years of service at Microsoft, Steve Ballmer announced that he would step w down from the post of CEO. It shocked the most but may saw it coming. Ballmer joined Microsoft in 1980 as the first business manager. He headed many of the divisions in Microsoft which included operations, sales and support and many more. In 2000 he was officially announced as the CEO of Microsoft, during his tenure at the software giant has to undergoing some law suits but he settled everything and then also helped the annual revenue of the company reach $70 billion. But this growth couldn’t stay long and Ballmer was unable to keep up company’s revenue which resulted in his stepping down from his CEO role.
Ron Johnson
Initially Ron Johnson was the vice president in the merchandising department of an American retailing company Target, .He proved himself by raising the company’s image due to his hard work. In 2000 he joined Apple as the Senior Vice President for retail operations department and this time under his directions the company broke the record of “The Gap” with an outstanding annual sale that even crossed billion dollars. The revenue of Apple stores reached around $473,000 in 2011. Looking at this great achievement Ron Johnson was hired as the CEO by J.C.Penney, an American mid-range department store. He started good initially and even was awarded for his work but gradually the stock price lowered and company faced huge losses. This resulted in J.C.Penney firing Ron Johnson from his post in 2013.
Thorsten Heins
Thorsten Heins is a businessman from Germany. Heins served various positions in wireless arena and also few management positions in both software and hardware sectors. In 2007 he joined BlackBerry initially as Senior Vice President in Handheld Business Unit after that he also served as chief operating officer in product engineering and sales. In 2012 he was announced as the CEO of BlackBerry, but unfortunately the company’s shares started dropping, which eventually lead to his departure from the company.
Aubrey McClendon
It is hard to believe that a person who is the co-founder of a company had to step out due to some raising issues. Aubrey McClendon was the youngest co-founder and current CEO of Chesapeake Energy Corporation in addition to that he was known as “America’s Most Reckless Billionaire” by the Forbes Magazine in 2011. Chesapeake Energy Corporation went public in 1993 and from then McClendon worked so hard that he attained 20 percent of returns in almost 20 years of service. He would have continued his duties but due to some issues cropping up in the board of directors he found it better to step out.
Andrew Mason
An entrepreneur and a businessman from America started his career as a developer at a company called Inner Workings in 2006. He was given the responsibility of handling a social initiative platform called “The Point” but this concept was a flop and instead Groupon concept came in, which is about selling deals to local business. On December 1, 2010, The New York Times reported that Groupon was the subject of a $6 billion acquisition bid from Google, which Groupon turned down. On December 18, 2012, Mason was named "Worst CEO of the Year" by Herb Greenberg of CNBC. He was dismissed as Groupon's CEO on February 28, 2013, the day after the company missed analysts' expectations for sales, and fell far short of the mark when it came to profit.
Michael T Duke
Michael Duke another businessman from America who lost his position of CEO this year. He joined Walmart in 1995 as the executive in charge of international operations department and served various positions in various departments like Retail, Industrial Engineering, and Federated Department etc. In 2013 he was ranked among the world’s 10 most powerful people by Forbes. The falling shares and growing protests by workers, lead to Duke’s step down from his CEO seat.
Christine Day
Christine was a graduate from Harvard Schools of Advanced Management was also a sprinter from Jamaica who was specialized in 400 meters. She was the CEO for the company called Lululemon and served a period of 5 years in the company but unfortunately had to depart from the company due to some growing issues.
Angela Ahrendts
The reason behind Angela Ahrendts quitting her position was to join Apple . She joined Burberry in 2006 and achieved the position of CEO in just six months but unfortunately the prestige of the brand started declining. But she was considered as the highest paid CEO in her times.
Robert A. McDonald
Robert A. McDonald joined Procter and Gamble in 1980 and served the position of brand manager for Tide till 1986. After that he served various positions like Vice President, Presidents, Vice Chairman and so on. The day he became the CEO of Procter and Gamble their stock price rose up to $78.80 price per share but after few years it was seen that stock price were falling and thus McDonald was blamed for his inefficiency.
0 comments:
Post a Comment