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What CEO Resignations Reveal

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What CEO resignations revealCEO’s often experience overwhelming pressure to perform. But many CEO’s are misaligned with corporate objectives. Some make poor or even fatal decisions under stress, while others allow their character flaws to spin out of control.  When CEO’s sabotage their own best efforts and fail to bring their best selves to the workplace, they can experience untold embarrassment, despair, and untimely resignations. So what do sudden CEO resignations reveal?

Recent CEO Resignations

On Jan. 23,  2019, Carlos Ghosn resigned as chairman and CEO of Renault, the largest French car maker, on accusations of financial misconduct. Ghosn had served as the CEO of Michelin North America, chairman of AvtoVAZ, chairman and former CEO of Nissan, and chairman of Mitsubishi Motors.

On January 8, 2019, Herbalife’s chief executive Richard Goudis resigned over unspecified comments he made prior to taking the helm contrary to the company’s expense-related policies and business practices. According to the news release, his departure was not due to any issues regarding the company’s financial reporting.

On September 10, 2018, Les Moonves, Chairman, President and CEO of US media giant CBS resigned following allegations of sexual misconduct.

On July 17, 2018, Texas Instruments Chief Executive Brian Crutcher resigned due to violations of the company’s code of conduct, less than two months after taking the control of the company. The semiconductor company stated that “the violations are related to personal behavior that is not consistent with our ethics and core values.”

On June 1, 2018, Samsonite CEO Ramesh Tainwala resigned after allegations that he padded his resume by falsifying his academic credentials.

On January 27, 2018, Steve Wynn, CEO of Wynn Resorts Ltd. and Finance Chair of the Republican National Committee resigned after dozens of accusations of rape and sexual harassment.

In 2016, Toshifumi Suzuki, the 83-year-old Japanese businessman whose Seven & I Holdings is the parent company of the 7-Eleven chain, announced he was resigning as CEO at a press conference by stating “It is my lack of virtue and I am unbearably ashamed.”

The Optimal Thinking CEO

Optimal Thinking CEO’s know that their main job in this life is to be their best self.  They are true to themselves and others. They see implementation of the corporate vision as an opportunity to make the most of their own talents, abilities, and best efforts. These leaders place their best self in charge of obstacles and roadblocks while they point the best way forward. They lead by example and bring out the best from their people.


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2 Responses to “What CEO Resignations Reveal”

  1. Harold J says:

    Great article. You get to the heart of leadership, both personal and business. If you don’t put your best self in charge, you pay the price.

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