2019 seems to be a record year in terms of CEO exits. The departures of these CEOs have been due to various reasons and have caused quite a stir in the business world. Let’s take a look at five of such high-profile CEO exits that have occurred in the past one month:
Nike
On Tuesday, Nike (NYSE: NKE) announced that its CEO Mark Parker would step down in January 2020 and that John Donahoe would succeed him as chief executive. Parker will become Executive Chairman and lead the board. The reasons for the change were not disclosed.
Under Armour
On the same day as Nike, Under Armour (NYSE: UA) announced that its CEO Kevin Plank would step down from his role on January 1, 2020 and would be replaced by Patrik Frisk. Plank will become Executive Chairman & Brand Chief.
eBay
Last month, eBay’s (NASDAQ: EBAY) CEO Devin Wenig stepped down reportedly due to disagreements relating to the strategic review of the Classifieds and StubHub businesses. The company appointed CFO Scott Schenkel as the interim CEO.
WeWork
WeWork was hit with a wave of bad publicity last month after the company was forced to shelve its IPO and questions were raised on its governance. Amid several controversies, CEO Adam Neumann resigned and agreed to give up majority voting control. Artie Minson and Sebastian Gunningham were appointed co-chief executives. It was reported by The Wall Street Journal that Neumann would get $1.7 billion to give up his voting rights.
Juul
In September, in the wake of several vaping-related illnesses and concerns over the safety of its products, e-cigarette company Juul announced the resignation of its CEO Kevin Burns. Burns was replaced by former Altria (NYSE:MO) executive K.C. Crosthwaite.