From Nike to Intel, CEO departures at U.S. companies hit a record this year

CEO exits at U.S. public companies hit a record in 2024 as they faced competitive and strategic challenges.

Consumer-focused companies, which are more susceptible to changing tastes and trends, generally have higher turnover than industries like oil and gas or utilities, which tend to have internal and longer-tenured CEOs.U.S. public companies announced 327 chief executive changes this year through November, according to outplacement firm Challenger, Gray & Christmas.

Reddit co-founder Alexis Ohanian: I regret not developing this soft skill in my 20s—'I would have been 10 times more productive' earlier this month, nearly four years after he was appointed to turn the chipmaker around and better compete with rivals., plunging the company back into a safety crisis after years of problems across its defense and commercial aerospace business, frustrating the leaders of some of its biggest airline customers.ex-CEO Dennis Muilenburg, who was ousted for his handling of the aftermath of two fatal crashes of Boeing's 737 Max in 2018 and 2019.

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Nike CEO Faces Tough Challenge as Company Battles Sales DeclineNike's new CEO, Matthew Hill, is facing a major challenge as the company grapples with a sales decline. Analysts predict a significant drop in sales and profits, attributed to Nike's efforts to revamp its product assortment by scaling back on popular but overexposed franchises. This strategy, while aimed at restoring the brand's coolness, has led to short-term pressure on sales, impacting retailers like Foot Locker. Hill's task extends beyond product strategy to reviving Nike's innovation, strengthening relationships with wholesalers, and fostering a positive company culture after recent layoffs.
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Nike Shares Fall Despite Earnings Beat as CEO Predicts Revenue DeclineNike's stock price dropped despite beating earnings estimates for the quarter. CEO John Donahoe warned investors that revenue is expected to decline in double digits during the next quarter, citing a need to refocus on its core athletic offerings and reduce promotional activities.
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