Cases of CEO resignations

In the first nine months of the year, the world had 1,160 CEOs resign, of which many were forced to leave their jobs or pressured to leave.

Former WeWork CEO Adam Neumann was involved in a series of scandals before resigning. On September 16, WeWork postponed the plan to sell IPO indefinitely, after the tender documents valued the company at only US $ 10 billion, one fifth of the previous valuation. This business only has enough money to continue operating until the middle of next year.

Analysts said that if WeWork did not inject more capital or cut costs, its leaders might have to file for bankruptcy. Forbes recently valued the company at only $ 2.8 billion.
Another scandal of the former WeWork CEO was to register the “We” trademark, then force WeWork to buy it for $ 5.9 million.

In addition, Adam Neumann was involved in the alleged use of “grass” on a private jet to Israel last summer. The crew found a “large block” of marijuana “stuffed in cereal boxes” on the plane, after Adam Neumann’s group left.

Artie Minson and Sebastian Gunningham both became CEOs replacing Adam Neumann to steer WeWork in the future.

Kevin Burns – former CEO Juul resigned the day after US $ 38 billion worth of electronic cigarette company Juul was under criminal investigation.

Juul is under investigation for using celebrities and influencers on media and social media to promote e-cigarettes to minors. At the same time, the US Federal Trade Commission is also considering many issues on the company’s operations. In particular, there are allegations of electronic cigarette products with high levels of nicotine.
Earlier, the United States had recorded a number of deaths after using flavored e-cigarettes.

Devin Wenig joined eBay in 2011 and became CEO in July 2015, after going through business operations.
The decision to resign was made by eBay CEO Devin Wenig due to a conflict over the company’s asset restructuring strategy. Other board members are considering selling StubHub and Classifieds Group, but Devin Wenig disagrees. Because, these two sites still contributed 10% of eBay’s revenue last year.

After a series of considerations, both Devin Wenig and eBay executives believe that the best thing for eBay now is to find a new CEO. Experts believe Devin Wenig’s resignation will speed up eBay’s asset assessment process.

Hubert Joly (59 years old) has been the CEO since 2012, who revived Best Buy with a strategy of boosting online sales, in-store experience and same day delivery in certain locations. In addition, he also cut $ 2 billion in costs, but 80% of this figure did not focus on staff salaries.

Currently, the sales of Best Buy stores have grown for eight consecutive quarters and achieved the financial goals of fiscal year 2021.
After reviving Best Buy, Hubert Joly decided to “step back” to cede this position to Corie Barry, who has been known as the director of Best Buy since 1999.

Victor Herrero (49) left the position of CEO because he was found to have failed to fulfill his commitments on sexual harassment at work.
Prior to this information, Guess shares fell 11% and traded at $ 20.

Victor Herrero has 10 years of experience in charge of Asia-Pacific region and General Manager of Guess in China. After 4 years of Victor Herrero, Guess has cut losses and reduced revenue.

Currently, Carlos Alberini, who was Guess’s CEO during 2000-2010, runs the company.

Wells Fargo CEO Tim Sloan announced his retirement, after 31 years of dedication and 3 years as a CEO at the bank.

After this information, Wells Fargo shares rose 2.5%. Wells Fargo Allen Parker general counsel will temporarily serve as CEO and chairman of the board while looking for new employees.
Tim Sloan left, after Wells Fargo became known for a series of problems. In September 2016, it was discovered that the bank opened 1.5 million deposit accounts and more than 500,000 non-compliant credit card accounts. Six months later, the bank said it had opened a total of 3.5 million unauthorized accounts.
In March 2018, Wells Fargo was investigated by the Justice Department for “inappropriate recommendations and recommendations”. A month later, Wells Fargo’s liquidity reached $ 1 billion thanks to auto lending and mortgage operations.
Wells Fargo recorded 6.5% growth in the first nine months of the year, but is down more than 25% from the peak in March.

Because of an affair with employees and a violation of company policy, Steve Easterbrook was removed from all his positions at McDonald’s.
McDonald’s November 3 announcement said Easterbrook “made an unwise decision regarding the recent relationship with an employee.” The position of CEO and senior director of Easterbrook is currently undertaken by Chris Kempczinski.

Easterbrook is behind the aggressive modernization at McDonald’s. Under his leadership, the fast food chain
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