2019 seems to be a record year in terms of CEO exits. The departures of these CEOs have been due to various reasons and have caused quite a stir in the business world. Let’s take a look at five of such high-profile CEO exits that have occurred in the past one month:
On Tuesday, Nike (NYSE: NKE) announced that its CEO Mark Parker would step down in January 2020 and that John Donahoe would succeed him as chief executive. Parker will become Executive Chairman and lead the board. The reasons for the change were not disclosed.
On the same day as Nike, Under Armour (NYSE: UA) announced that its CEO Kevin Plank would step down from his role on January 1, 2020 and would be replaced by Patrik Frisk. Plank will become Executive Chairman & Brand Chief.
Last month, eBay’s (NASDAQ: EBAY) CEO Devin Wenig stepped down reportedly due to disagreements relating to the strategic review of the Classifieds and StubHub businesses. The company appointed CFO Scott Schenkel as the interim CEO.
WeWork was hit with a wave of bad publicity last month after the company was forced to shelve its IPO and questions were raised on its governance. Amid several controversies, CEO Adam Neumann resigned and agreed to give up majority voting control. Artie Minson and Sebastian Gunningham were appointed co-chief executives. It was reported by The Wall Street Journal that Neumann would get $1.7 billion to give up his voting rights.
In September, in the wake of several vaping-related illnesses and concerns over the safety of its products, e-cigarette company Juul announced the resignation of its CEO Kevin Burns. Burns was replaced by former Altria (NYSE:MO) executive K.C. Crosthwaite.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,