There are a few things that have somehow been happening quite frequently in the world. Various industries shrinking, various disruptions and various new start-ups. While most things are seen via a positive outlook, there are instances which are leading to major changes in the business world, for the good or for the bad, nobody knows. The instances? It is the resignation or signing out of various CEOs behind various big brands.
Here’s a list of 5 CEOs from big names who quit their jobs in 2019:
1) Flipkart
Binny Bansal, Flipkart CEO and co-founder have resigned from the company when there were allegations made against him on grounds of personal misconduct and a probe was also arranged. The allegation followed the Me too movement in India and even though there was no evidence found later to confirm the incident, other results of the investigation pointed out to major lapses in judgement of the ex-CEO of Flipkart.
2) McDonald’s
Steve Easterbrook worked as McDonald’s CEO for four years, before leaving the company recently in November 2019. He was blamed to be having an affair with an employee of the company, which was against the policies of the company. However, McDonald’s has not named the alleged employee to date.
3) WeWork
Adam Neumann co-founded WeWork and was its CEO for nine years, from 2010 to 2019. After WeWork tried to launch its IPO at a high valuation, investors found various issues and saw the downfall of the company. Adam had to then resign after selling off his shares to Softbank, a saviour for the company.
4) Victoria Secret
Jan Singer became the CEO of Victoria secret for two years after she shifted from her past employer, Sphanx. She was the CEO of the lingerie division for a period of two years. The reason isn’t exactly known but it has been speculated that the company’s declining sales and tough market competition led to the resignation.
5) Ebay
Devin Wenig, the Ebay CEO from July 2015 to September 2019, resigned over discrepancies and disagreements with company investors about Ebay’s future plans. He had posted about his departure from the company on Twitter. After his resignation, the company’s CFO was hired to fill the role as an interim CEO.
