They fell from some of the most powerful positions on earth.
The bloodletting in the c-suite started in 2007. It still hasn't stopped.
Another
year goes by and more chief executives get the ax--probably more than
in any previous year. People shook their heads when Charles Prince III
at Citigroup
Martin Sullivan of American International Group
Their
distinguished company includes James Cayne of the now-deceased Bear
Stearns and Richard Syron and Daniel Mudd, the former CEOs of the
mortgage buyers Freddie Mac
"There are two kinds of CEO firings," says Noel Tichy, a professor at the Ross School of Business at the University of Michigan. "There are the crooks and there are the incompetents." This year the biggest departing names all fell into a gray area in between.
None was as corrupt as the executives embroiled in the infamous Enron and Tyco scandals of a decade ago, but you couldn't just say they were simply stupid either. CEOs in the financial services industry discovered that they had allowed their companies to take suicidal risks with other people's money based on bad or staggeringly incomplete information. Many of them have paid with their jobs.
In Pictures: 11 Top Bosses Who Got The Boot in 2008
Despite their prominence, these headline names compose just a small fraction of the 1,361 U.S. CEOs who left their jobs this year through November. That's up from 1,356 in all 12 months of last year. The final 2008 number may prove to be a record, beating the previous one of 1,478 set in 2006, according to data collected by the management consulting firm Challenger, Gray & Christmas.
'Business' 카테고리의 다른 글
| Amazon says 2008 holiday season was 'best ever' (0) | 2008.12.28 |
|---|---|
| Re-evaluating Your Retirement Game Plan (0) | 2008.12.28 |
| The Worst Places To Be Sick And Poor (0) | 2008.12.28 |
| Why Tech Can't Cure Medical Inflation (0) | 2008.12.27 |
| Venture Capital's Coming Collapse (0) | 2008.12.27 |
Comment On This Story