Bitlife How To Execute Someone
From employee scandals to legal controversies, some companies have faced serious issues subsequently their CEOs put their entire future in jeopardy with their questionable actions. Fifty-fifty powerhouse companies like Nike, Victoria's Undercover, Groupon, Etsy and Uber weren't allowed from damaged reputations caused by controversial CEOs.
Intense media backlash, fallouts with shareholders, lies, arrests and plenty of questionable actions — these CEOs nearly cost their companies everything. Are you set to encounter the controversial entrepreneurs who were fired from their own businesses? Let'southward have a expect!
John Schnatter – Papa Johns
When nosotros talk near a CEO striking with the near media backfire, the i and only John Schnatter of Papa John's Pizza comes to mind. Schnatter came under fire because of his comments related to the NFL and national anthem protests. He effectively said poor NFL leadership afflicted Papa John's shareholders.
What really didn't aid his case was that he dropped a racial slur in the process. The intense social media backfire resulted in a 30% drop in Papa John's share price. As of 2019, Schnatter has sold a third of his stock in the visitor, claiming it'southward doomed, and he doesn't desire to see the crash.
I of the most controversial Hollywood personas in 2019, Harvey Weinstein is a former motion-picture show producer who came under burn when advocates of the #metoo campaign accused him of sexually assaulting more than eighty women during his fourth dimension as an influential Hollywood figure. Due to the intense and immediate backlash by the Hollywood movie industry and on social media, his own company fired him.
Weinstein no longer works in the picture show manufacture due to his reputation. He is still subject to plenty of lawsuits and other significant courtroom cases surrounding the sexual assail allegations. 1 criminal trial recently started in January 2020.
Rob Kalin – Etsy
Rob Kalin is one of those founders that quit his ain visitor non just once, but twice — start in 2008 and once again 3 years later in 2011. Although Etsy'south global reputation remains solid, rumor has information technology that Kalin wasn't upward to the challenge of scaling the company's growth. According to critics, Etsy wasn't managed professionally under Kalin's leadership.
Rather than damaging the company's reputation further, he decided to go out and manus things over to Chad Dickerson, who was afterward fired. The share cost of the company plummeted, and 17% of Etsy's workforce was laid off in 2017.
Travis Kalanick – Uber
Travis Kalanick is mayhap one of the virtually notable names in the corporate world. Being the founder of Uber was never an easy job, and Kalanick came nether fire after the company faced a major public relations crisis in 2017. Uber was accused of toxic in-house environments, sexual harassment and an unethical civilisation.
The controversial CEO reportedly ignored repeated sexual harassment claims in the visitor and behaved inappropriately in professional situations, prompting growing concern for Uber's in-house and global reputation. After many controversies, he resigned in 2017 forth with several other top company managers.
Jonah Peretti – BuzzFeed
BuzzFeed'south reputation tends to be questioned and criticized due to the diversity of content on the platform. When Jonah Peretti, the company'south CEO, had to permit more than 200 employees go without warning, the controversial actions quickly became public noesis.
The visitor was criticized for not paying its customs contributors, including an unpaid teenager who brought in more than 130 million website views in 2018 with her quizzes. Peretti also came under fire afterwards suggesting that people bring puppies to the office on the day of the layoffs, an action that many accounted to exist insensitive.
Roger Ailes – Fox News
2017 was a huge yr for controversies in the world of big business and CEOs, and many of those controversies concluded up changing companies forever. Pull a fast one on News was no stranger to controversy and scandal, but the network giant took a huge reputation hitting in 2017.
The company's CEO, Roger Ailes, and some top news anchors in the company were defendant of multiple counts of sexual harassment. The anchors got their shows canceled, and Ailes was fired when more than than a dozen women came forward to accuse him. In May 2017, Ailes passed away from hemophilia.
Lee Jae-yong – Samsung
Samsung faced its biggest controversy in 2016, thanks to issues with exploding batteries that injure both people and the visitor'southward reputation. Simply a twelvemonth later, the company came under fire for its questionable leadership. Samsung is family-run, with Lee Jae-yong in one case at the forefront.
However, in 2017 Jae-yong was arrested based on accusations of embezzlement and corruption, which included bribing South Korea's ex-president. He was released from jail in 2018, but his futurity with Samsung is unclear. The visitor was also guilty of several labor offenses, and antitrust concerns arose subsequently Jae-yong's bribery scandal.
Aubrey McClendon – Chesapeake Energy
Leadership comes in many shapes and forms, and some CEOs are known to be slightly more aggressive and reckless than others. In 2018, Chesapeake Energy's CEO, Aubrey McClendon, made the news when he was questioned well-nigh the legitimacy of borrowing money from some of his investment wells.
It was revealed he had borrowed more than $1 billion for personal investments in wells that were initiated by Chesapeake. The reports completely tarnished the company'due south reputation, with many assertive Chesapeake was no longer a natural gas company, only rather a domain for McClendon's personal ventures.
Andrew Mason – Groupon
Andrew Mason has been embroiled in quite a few controversies that directly hurt Groupon's reputation with its investors as well equally with consumers. The CEO struggled to movement on from the visitor's fun commencement-upwards life and came under fire plenty of times for his behavior, including one incident where he drank beer during one of the investor meetings.
Wall Street also started to lose faith in the company, claiming that Groupon had lost managerial focus and confidence. In 2012, CNBC named Stonemason the "Worst CEO of the Twelvemonth," claiming his antics put a bad epitome on the company's corporate reputation.
Martin Shkreli – Turing Pharmaceuticals
Ane of the biggest pharma scandals was perpetrated by CEO Martin Shkreli, often dubbed one of the most hated men in America. Shkreli received global criticism in 2015 after raising the price of a common drug used to treat parasitic diseases.
It may be quite normal for drug companies to raise their pricing, but because of Shkreli'due south decisions, this detail antiparasitic was being sold for $750 per pill instead of $13.50 per pill. He was too charged with securities fraud, resulting in a seven-year prison sentence and a fine of more than than $7 million. He is currently in prison.
Bongani Nqwababa and Stephen Cornell – Sasol
Some companies have articulation CEOs in guild to complement each other's business and leadership skills. Of course, that approach doesn't always work out. Bongani Nqwababa and Stephen Cornell both agreed to resign afterwards initiating a project that cost the visitor more than $12 billion and dramatically lowered Sasol's share price by 44%.
An investigation into the project uncovered misconduct and incompetence at superlative management levels as well as fiscal communications with the co-CEOs. Afterwards the ii executives resigned, the company's share price went support based on the hope of a better company culture and management.
Sanjay Kumar – Computer Associates International
The infamous 2004 Computer Associates International fraud scandal put the company'southward reputation at risk. The multi-billion-dollar fraud involved the participation of many employees, from top-level management all the way downward, but the primary person responsible was the CEO, Sanjay Kumar.
The company was defendant of intentionally miscalculating its revenues in the previous quarter, committing a serious regulatory law-breaking and harming the company's relationship with its shareholders. Information technology was proven that summit management removed contract fourth dimension stamps and did everything they could to falsely inflate sales and profits. Kumar was arrested in 2006 and released from prison in 2017.
John Fellows Akers – IBM
IBM'southward reputation among employees (as well as non-employees) tends to exist below average. In the belatedly '80s, the company's CEO, John Fellows Akers, made some significant changes to speed up the process of delivering their products to the marketplace.
He created three democratic organizations within the company, just the strategy wasn't successful. Instead, it resulted in huge business concern losses as well as more than 40,000 employees losing their jobs. He was ultimately removed by the lath, and the visitor is still trying to rebuild IBM's reputation with both consumers and employees.
Adam Neumann – WeWork
WeWork was without a doubt one of the most successful coworking and co-living startups — for a while. However, in 2019, the company's downfall started when its CEO, Adam Neumann, began to lose the conviction of the company'southward investors due to his inability to run the public corporation efficiently.
In the midst of brutal losses, Neumann stepped down from his CEO position, but not before he received virtually $200 million in consultancy fees and almost $1 billion from selling WeWork stock to SoftBank. In 2019, Neumann was also sued by a former employee for sexual discrimination.
Kevin Plank – Under Armour
Nether Armour has faced many challenges over the past decade, as the company has struggled to keep up with other sportswear brands similar Nike and Adidas. Information technology lost $200 1000000 due to restructuring and layoffs, and many employees came forward with negative allegations virtually its CEO, Kevin Plank.
The company was criticized for its overly relaxed culture, which included regular company-paid trips to strip clubs. Plank was likewise role of an matter scandal with an MSNBC anchor. The company'south reputation took a hit with its shareholders, and Plank was forced to resign.
Marker Parker – Nike
2018 and 2019 were hard years for Nike's PR squad, as the company'due south CEO, Marker Parker, was accused not only of a controversial doping scandal, but besides sexual harassment and gender discrimination in the workplace. An investigation revealed emails of Parker communicating with omnibus Alberto Salazar about using performance enhancing drugs that wouldn't exist discovered by doping tests.
Two ex-employees sued the visitor, stating that the salaries of women were lower than salaries of men. Parker officially left Nike in 2019, along with several executives and the president of the Nike brand.
Jan Vocalist – Victoria's Underground
Victoria'due south Hugger-mugger has reportedly struggled with sales and profits over the by couple of years. In 2018, the company'southward CEO, Jan Vocaliser, resigned when a Vogue interview with Victoria Cloak-and-dagger's chief marketing officer highlighted that the company's controversial strategy was to market its products but to sure types of women.
The visitor has as well been criticized for non responding to the consumer demand to put comfort before lace also as declining to embrace inclusivity. Unable to satisfy these demands and restore the visitor's reputation, Jan Singer resigned.
John McAfee – McAfee
McAfee's former CEO, John McAfee, has led a life that could have been taken straight out of an intense crime movie. Afterwards relocating to Belize, McAfee was questioned by authorities as a person of interest in the murder of an American expatriate.
The interrogations fabricated McAfee avert Belize and relocate to Guatemala, where he proceeded to web log about his fourth dimension on the run from the police. He was then arrested and virtually faced deportation, simply he faked two minor heart attacks to purchase fourth dimension for his lawyer to file an appeal. Nosotros couldn't make upward this kind of crazy if we tried!
Elon Musk – Tesla
Although Tesla is becoming more and more popular, Elon Musk is no stranger to outrageous controversies. He might not compare to some of the other CEOs on our list for bad management, but it has been reported that Musk is one of the toughest bosses out there.
In 2015, he reportedly scolded an employee for leaving for the nascence of his child instead of staying at work. Tesla workers take also come up forward to merits they were fired for taking ill or motherhood leave. Manifestly, the law means nothing to Musk, and the visitor has faced several lawsuits, including some related to bigotry and harassment.
Bernardo Hees – Kraft Heinz
Kraft Heinz faced a big shakeup in 2019 later its CEO stepped down in the wake of a huge value reject in the company'southward stock toll. Originally separate companies, Kraft and Heinz merged when they were caused by 3G Capital letter.
Bernardo Hees took control of the company and came nether fire for his strict direction and baroque rules, which included one that wouldn't allow employees to bring rival nutrient brands into the part. This had a dramatic effect on the company'south in-business firm reputation, especially after many layoffs and budget cuts related to operating and managing the company.
Marissa Mayer – Yahoo
Marissa Mayer has been named one of the worst CEOs in American history. Impressive, correct? She took over Yahoo in 2012 in hopes of restoring the search engine's greatness so it could compete with giants similar Google. Her strategy involved acquiring 53 cyberspace companies. Yet, apart from Tumblr, none of them made any significant noise in the online world.
Additionally, the Tumblr acquisition ended with its value decreasing past a staggering $230 1000000. She too prevented employees from working from domicile in an effort to bring the team closer together once again. None of the strategies worked and only resulted in layoffs and her official dismissal.
Kenneth Lay – Enron
Kenneth Lay was a huge figure in Enron'south early days, as it fabricated its way to the top as an energy-trading behemothic. Unfortunately, bad business practices led to the visitor'due south downfall. Afterwards investigators uncovered accounting fraud, the business' stock toll plummeted from $90 to $i, and its shareholders lost $eleven billion.
The loss resulted in Enron filing for bankruptcy in what was 1 of the largest corporate bankruptcies in America. Lay and another Enron executive, Jeffrey Skilling, were arrested for fraud and conspiracy. Lay passed away from a heart attack during the sentencing phase of his trial. Skilling spent years in prison and was released in 2019.
Bernie Ebbers – MCI WorldCom
In 2002, the success of MCI WorldCom's business organization ventures came to a crushing end. Bernie Ebbers, the company's CEO, was involved in the largest accounting fraud in history, making a staggering $11 billion in misstatements. Ebbers was also accused of taking millions of dollars from the company for personal loans.
It was besides late to relieve the visitor at that bespeak. The huge scandal plummeted MCI WorldCom's stock toll, and the company's shareholders lost more than $100 billion. Ebbers was arrested and sentenced to 25 years in prison. He is set to exist released in 2028.
Mark Hurd – Hewlett-Packard
Marker Hurd may non be on the aforementioned level as some of the CEOs on our list, merely that doesn't mean he'south non guilty of some wrongdoing. He was fired every bit CEO of Hewlett-Packard after he was caught submitting inaccurate expense reports. To brand matters worse, he tried to hide his relationship with a female contractor who was involved with the business.
Hurd was fired for inaccurate expense reporting and demonstrating poor leadership skills that didn't live up to CEO standards. The decision was unanimously made by the lath, who stated that his "conduct undermined the standards" set for employees.
James McDermott – Keefe, Bruyette & Woods
Keefe, Bruyette & Wood is an investment bank that didn't become past without a scandal in the late '90s. The visitor'due south CEO, James McDermott, was involved in a relationship with an adult picture actress, Marilyn Star (also frequently styled every bit Marylin Star). He revealed confidential company data about a future merger, and Star passed the information on to another lover.
The couple used McDermott's information to invest in the stock market and made more than than $lxxx,000. McDermott was arrested and forced to pay a fine of $230,000, while Star only faced a few months in jail.
Martha Stewart – Martha Stewart Living Omnimedia
Ah, Martha Stewart — what do you think about when you lot hear that name? Starting her catering company dorsum in 1976, Stewart soon became a force to be reckoned with in the culinary globe. She launched her own visitor, Martha Stewart Living Omnimedia, and that's when things started to go downhill.
She was found guilty of conspiracy and insider trading and served five months in a minimum security prison house. Although her brand recovered from the bad press, Stewart is often associated with time in prison as much as culinary success.
Abby Lee Miller – Abby Lee Dance Company
Abby Lee Miller is an infamous dance teacher and the owner of Abby Lee Dance Company. Climbing to fame due to the TV evidence Trip the light fantastic toe Moms, Miller showed the world her character every bit one of the toughest dance teachers around.
In 2015, her reputation took a hitting when she was charged with defalcation fraud and hiding more than $700,000 in assets. She was convicted and sentenced to i year in prison house. Equally of 2019, Miller is back teaching, only her reputation will never exist the same again.
John Browne – BP
The John Browne scandal is slightly different than the others on our list. Browne, the CEO of BP, lied under oath when he was asked about his human relationship with his fellow. Specifically, he lied about how they offset met, saying they were both jogging in London when, in fact, they met through a male person escort agency.
This resulted in a permanent dismissal from the company, mostly to ensure damage command before perjury accusations could injure the brand. Browne besides forfeited a multimillion-dollar severance package upon his go out.
David Edmondson – RadioShack
David Edmondson spent more than than 10 years at RadioShack before revealing a shocking truth — he had lied on his CV. The CEO of the company claimed he had received a theology and psychology degree, merely he actually only finished two semesters at a school where a psychology degree was never fifty-fifty offered.
In truth, he didn't hold whatsoever degrees whatsoever. He admitted to lying on his resume in 2006 and resigned shortly after that. The discovery came about after Edmondson was arrested for DUI, and a paper started digging up data near his by.
Harry Stonecipher – Boeing
Boeing is no stranger to controversies from inside and outside the company. In 2003, Harry Stonecipher came out of retirement and became the company'southward CEO, but he didn't seem to learn annihilation from the erstwhile CEOs' mistakes.
Affairs with employees are a huge no-no in the business concern globe, and Stonecipher only didn't listen. An investigation into his emails with ane of his executives confirmed the affair, forcing Stonecipher to resign after simply 18 months in the position. After news of the affair broke, his wife filed for divorce. At least it was for true love, every bit Stonecipher later married the employee.
Source: https://www.consumersearch.com/technology/companies-screwed-by-ceo?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex&ueid=b266b84a-9a66-4edc-945e-52c99121d5b9
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