After Incidents Across Years, a CEO’s Sudden Exit

Agenda reports on the “sudden” departure of Matt Maddox from Wynn Resorts after a now-revealed series of troubling behavior over a longer period. Despite the dismissal for what in any other position would be considered “cause,” the official position is that it was a voluntary departure: “Mr. Maddox’s decision to step down as CEO was…

Adam Bryant on The CEO Test

Adam Bryant’s Corner Office interviews with CEOs included some of the most innovative, practical, and often surprising insights into the challenges and strategies of leaders I have ever read. So it is not surprising that his latest book, The CEO Test: Master the Challenges That Make or Break All Leaders, co-written with former Amgen CEO…

CEO Turnover: Why CEOs Are Bailing Out In Droves | Investor’s Business Daily

We can’t help thinking of rats deserting a sinking ship. Are CEOs shorting American business? More than 1,400 CEOs left their posts this year through November, says Challenger, Gray & Christmas. That’s up 12% from this point last year. And it’s the highest January to November total since Challenger started keeping track of the numbers…

WeWork Employee Options Underwater as Ex-CEO Reaps – WSJ

VEA Vice Chair Nell Minow is quoted in the Wall Street Journal about the mind-boggling $1.7 billion departure package for Adam Neumann at We Work, which includes $187 million in consulting fees and a $500 million line of credit. “There used to be crazy departure packages in the past, and shareholders really objected,” said Nell…

Has La Croix Lost Its Fizz?

National Beverage, producer of La Croix flavored fizzy water, has been criticized for the tone and substance of its recent filings. On Forbes, Jim Collins calls CEO Nick Caporella’s statement “bizarre” and points out the contradictions in its explanation for reduced revenues: La Croix sales are falling due to litigation, but that litigation will not…

More U.S. Companies Separating Chief Executive and Chairman Roles – WSJ

A push by corporate governance experts, shareholders and, in some cases, regulators to untangle the chairman and chief executive positions at U.S. public companies is gaining traction.The percentage of S&P 500 companies whose chief executives also serve as chairman reached 45.6% in 2018, compared with 48.7% the year before and the lowest percentage in at…