OVER 50 **UNEXPECTED** CEO & CFO resignations in the last 3 weeks!
Most notably are telecoms, banks and energy companies.
1. Sun Microsystems
2. Royal Bank of Scotland
3. Bank Leumi of Israel
4. Lenovo
5. Wellpoint (on March 1)
6. Ingersoll-Rand
7. Gasco
8. Syntel
9. Motion Picture Television Fund
10. GrainCorp
11. Connaught Plc
12. Netplay TV
13. AgResearch
14. Zain Telecom
15. Ethan Allen Institute
16. Fahrney-Keedy Home & Village
17. Nordzucker
18. France Telecom
19. TransWorld Entertainment
20. Parlux
21. Medical Developments International Ltd
22. PBR (on March 1)
23. Aeropostale
24. Cook Islands Tourism
25. Uranium International Corp
26. San Francisco AIDS Foundation
27. Borders Books
28. YTB International
29. Western Australia Business News
30. Bergen Group Rosenberg
31. Phumelela
32. Bartow Regional Medical Center
33. NV Energy (CFO)
34. Shanda Interactive
35. NB Power
36. Empire Aero
37. Argentina Central Bank
38. Hong Kong Exchanges & Clearing (CFO)
39. Arbitron
40. Lihir Gold Ltd
41. Meredith Corp
42. Red Bull
43. Golden Harp
44. Endo Pharma
45. Nuplex
46. CLICO
47. Mirada (chairman)
48. Remedial Offshore
49. Abercrombie & Fitch Co
50. Commerce Resources (CFO)
UPDATED:
The list is now close to 180.
For a CEO/CFO to quit, resign, etc....is perhaps a way to cash out of the stocks. Does that mean the market will crash? ...one does not have to be a genius to conclude it is Just a matter of time.
Submitted by joeblow on Sun, 2010-02-07 21:00
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they can get the golden parachute before everything goes belly up.
Some are retiring. Some, as Andie says, may be opting for the golden handshake before the time comes when the plunge protection team can no longer work their "magic". Some may be going as a result of mergers or acquisitions. Sun's CEO comes to mind, although I have to say that his rationale for leaving is just speculation on my part. Ditto with the Cadbury CEO and CFO (mentioned on page 3 of the site you linked to). Cadbury has just been taken over by Kraft, and to my mind, the two corporations couldn't be further apart in ethos, so perhaps this takeover is the reason for their departure.
FRANKFURT (AP) -- The chief executive of German software company SAP AG, Leo Apotheker, has resigned after his contract was not renewed and will be succeeded by two co-CEOs, the company said Sunday.
http://finance.yahoo.com/news/SAP-CEO-resigns-replaced-by-2-apf-91178882...