It's been a record-breaking year for CEO departures.
McDonald - Steve Easterbrook
The board of directors fired Easterbrook on Friday (01-11-2019) after concluding he had violated the company’s policy against manager relationships with direct or indirect reports and announced the decision Sunday. He was replaced by Chris Kempczinski, previously the president of McDonald’s USA.
Ousted McDonald’s CEO Steve Easterbrook cannot take a job with a rival fast-food business for two years, according to a regulatory filing Monday, one day after the company announced he had shown “poor judgment” by engaging in a consensual relationship with an employee.
Easterbrook’s separation agreement temporarily prohibits him from working for such competitors as Burger King, Yum Brands and Starbucks, as well as convenience store giants such as 7-Eleven and Wawa. He also will receive 26 weeks of pay, though the value of the severance package was not immediately clear. Easterbrook earned nearly $16 million in 2018, including a base salary of $1.35 million.
Here are another 26 most dramatic exits.
During the first three quarters of 2019, 1,160 CEOs have left their positions, according to staffing firm Challenger, and Christmas. This number exceeds the number of CEOs who departed during the same nine-month span at the height of the 2008 recession (which saw 1,132 CEOs departures). The tech sector has seen the second-highest number of CEO departures, with 154 executives in that industry leaving their positions.
Over 1,000 CEOs have stepped down during the first three quarters of 2019, according to a report published by staffing firm Challenger, Gray and Christmas - 1160 executives, to be exact.
Departures within the first nine months of this year have already exceeded the number of CEOs who stepped down during the first three quarters of 2008 (1132 CEOs), during the height of the recession. This is also the year with the highest CEO turnover in the first three Quarters that Challenger, Gray, and Christmas has seen since the firm began tracking departures in 2002.
- WeWork — Adam Neumann
WeWork (officially "The We Company") is an American commercial real estate company that provides shared workspaces for technology startups and services for other enterprises. Founded in 2010, it is headquartered in New York City. As of 2018, WeWork managed over 4 million square metres.
- Juul — Kevin Burns
Juul Labs, Inc is an American electronic cigarette company which spun off from Pax Labs in 2017. It makes the Juul e-cigarette, which packages nicotine salts from leaf tobacco into one-time use cartridges. Juul Labs was co-founded by Adam Bowen and James Monsees.
- eBay — Devin Wenig
eBay Inc. (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
- MetLife — Steven Kandarian
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries.
- Colgate-Palmolive — Ian Cook
Colgate-Palmolive Company is an American multinational consumer products company focused on the production, distribution and provision of household, health care, and personal care products. Under its "Hill's Pet Nutrition" brand, it is also a manufacturer of veterinary products.
- New York Post — Jesse Angelo
The New York Post (sometimes abbreviated as NY Post) is a daily newspaper in New York City. ... Established in 1801 by Federalist and Founding Father Alexander Hamilton, it became a respected broadsheet in the 19th century, under the name New York Evening Post. In 1976, Rupert Murdoch bought the Post for US$30.5 million.
- Best Buy — Hubert Joly
Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. It was originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music.
- Burlington Stores — Tom Kingsbury
Burlington, formerly known as Burlington Coat Factory, is an American national off-price department store retailer, and a division of Burlington Coat Factory Warehouse Corporation with 631 stores in 45 states and Puerto Rico, with its corporate headquarters located in Burlington Township, New Jersey.
- Rite Aid — John Standley
Rite Aid Corporation is a drugstore chain in the United States. The company ranked No. 94 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. ... Rite Aid is the largest drugstore chain on the East Coast and the third largest in the U.S.
- Warner Bros. — Kevin Tsujihara
Warner Brothers Entertainment, Inc. provides video based entertainment services. The Company produces feature films, television programs, home video and DVDs, animation, interactive entertainment, and games, as well as publishes comic books. Warner Brothers Entertainment serves customers worldwide.
- Mattress Firm — Steve Stagner
Founded in 1986, Houston-based Mattress Firm is the nation's leading specialty bedding retailer with over $3.5 billion in pro forma sales in 2015. In September 2016, the company was acquired by Steinhoff International for $3.8 billion, and Mattress Firm now operates as a subsidiary of Steinhoff.
- Bed, Bath & Beyond — Steven Temares
Bed Bath & Beyond Inc. is an American chain of domestic merchandise retail stores. Bed Bath & Beyond operates many stores in the United States, Puerto Rico, Canada, and Mexico. Bed Bath & Beyond was founded in 1971. It is currently part of the S&P 500 and Global 1200 Indices.
- REI — Jerry Stritzke
Recreational Equipment, Inc., commonly known as REI, is an American retail and outdoor recreation services corporation. It is organized as a consumers' co-operative. REI sells sporting goods, camping gear, travel equipment, and clothing. It also offers services such as outdoor-oriented vacations and courses.
- Boingo Wireless — Dave Hagan
Boingo Wireless is an American company that provides mobile Internet access for wireless-enabled consumer devices. The company reports having over one million small cell networks for cellular extension services (aka distributed antenna system (DAS) and Wi-Fi access that reaches more than one billion consumers annually.
- Mozilla — Chris Beard
The Mozilla Corporation (stylized as moz://a) is a wholly owned subsidiary of the Mozilla Foundation that coordinates and integrates the development of Internet-related applications such as the Firefox web browser, by a global community of open-source developers, some of whom are employed by the corporation itself.
- Guess — Victor Herrero
Guess is an American upscale retailer and a brand of clothing and other fashion accessories like watches, perfumes and jewelry. It was founded in the year 1981 and is headquartered at Los Angeles in California. The brand is owned by the brothers Maurice and Paul Marciano.
- UnitedHealthcare — Steve Nelson
UnitedHealth Group is a diversified health and well-being company dedicated to helping people live healthier lives. ... Our network includes approximately 700,000 physicians and health care professionals, 5,200 hospitals and care facilities, approximately 119,000 dental providers and approximately 66,000 pharmacies.
- HP — Dion Weisler
HP (Hewlett-Packard) is a multinational information technology (IT) company that sells hardware, software and related business services. ... The company's corporate culture is encapsulated in an approach known as the HP Way, a set of values designed to foster innovation, respect for individuals and value for customers.
- Blue Apron — Brad Dickerson
Blue Apron, LLC operates as an e-commerce business that delivers fresh ingredients and recipes to make meals for homes. The Company offers fresh meats, fish, herbs, vegetables, and fruits in refrigerated boxes with ingredients and recipe cards. Blue Apron serves customers in the United States.
- Kraft Heinz — Bernando Hees
The Kraft Heinz Company (KHC), commonly known as Kraft Heinz, is an American food company formed by the merger of Kraft Foods and Heinz with co-headquarters in Chicago, Illinois and Pittsburgh, Pennsylvania.
- PG&E — Geisha Williams
The Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU) with publicly traded stock that is headquartered in the Pacific Gas & Electric Building in San Francisco, California, United States.
- AutoNation — Carl Liebert
AutoNation is an American automotive retailer, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, and has more than 360 retail outlets.
- Care.com — Sheila Lirio Marcelo
Care.com is a public corporation headquartered in Waltham, Massachusetts, that helps families find child care, senior care, special needs care, tutoring, pet care, housekeeping, etc. ... It has raised $111 million in venture funding and went public on January 24, 2014.
- Overstock — Patrick Byrne
U.S. Overstock.com, Inc. is an American internet retailer headquartered in Midvale, Utah, near Salt Lake City. Overstock.com was originally founded in 1997 by Robert Brazell as D2: Discounts Direct. Two years later, it was sold to Patrick M. Byrne who renamed it Overstock.com.
- David's Bridal — Scott Key
David's Bridal is a clothier in the United States that specializes in wedding dresses, prom gowns, and other formal wear. It is the largest American bridal-store chain. David's Bridal currently operates more than 300 stores in 45 states, Canada, the United Kingdom, and Puerto Rico
- Wells Fargo — Tim Sloan
Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the United States. It is the world's fourth-largest bank by market capitalization and the fourth largest bank in the US by total assets.