As the highest position in corporate leadership, the CEO position is generally associated with great responsibility and pressure, particularly in challenging times.
These are some of the noteworthy CEO exits along with the reasons behind them:
Starbucks, Laxman Narasimhan,
After just a year in office, Laxman Narasimhan is leaving his position as CEO of Starbucks. On September 9, Brian Niccol of Chipotle will take over as CEO and chairman.
Narasimhan tried to restructure the company and enter new markets, but the obstacles were too great, and he left the company early.
WeWork’s Adam Neumann
Adam Neumann, the former CEO and co-founder of WeWork, was first recognized for his vision in the co-working space. But during his term, he was beset by wild spending and unpredictable management, which resulted in serious financial problems.
Nikola Corp. and Trevor Milton
Allegations of fraud caused Trevor Milton, the founder and former CEO of Nikola Corp, to have his career crumble. Milton had drawn a lot of interest from investors by positioning Nikola as a pioneer in hydrogen and electric car technology.
Apple and Steve Jobs
Probably the most well-known CEO to be fired from his own company is Steve Jobs. Jobs resigned from Apple in 1985 due to a power conflict with the board and then-CEO John Sculley. The company’s dropping revenues and Jobs’s leadership style were perceived as liabilities.
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