Massive number of CFO and CEO resignations

What's up with all of this activity? People are bailing left and right.

Most notable are telecoms, banks and energy companies.

There are more than this when you consider the resignation of board members and other executives.

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)


TEOTWAWKI"

Link (with additional posts):

http://www.godlikep roductions. com/forum1/ message981908/ pg1

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http://dprogram. net/2010/ 02/07/over- 50-unexpected- ceo-cfo-resignat ions-in-the- last-3-weeks/

Compiled list of Resignations from top corporations and other various fields
Resignments:

http://www.itnewsaf rica.com/ ?p=4591 (Zain CEO Resigns) - 2-4-10


http://www.csmonito r.com/Money/ new-economy/ 2010/0204/ Twitter-resignat ion-Sun-s- CEO-tweets- haiku-goodbye. -So-can-you (SUN CEO Resigns) - 2-4-10


http://business. timesonline. co.uk/tol/ business/ industry_ sectors/banking_ and_finance/ article6945945. ece (1,000 bankers resign) – 12-6-09


http://www.bloomber g.com/apps/ news?pid= 20601087&sid=ao9RQMKtfumQ&pos=5 (AIG CEO Plane Lending Unit resigns) – 2-4-10


http://www.kansasci ty.com/115/ story/1726324. html (Housing development agency official resigns) – 2-3-10


http://www.baltimor esun.com/ business/ bal-bz.digest040 feb04,0,5456701. story (Under Armor VP Resigns) – 2-4-10



http://money. cnn.com/news/ newsfeeds/ articles/ globenewswire/ 183520.htm (VP of Center Bankcorp resigns) – 2-3-10


http://www.ibtimes. co.uk/articles/ 20100203/ cadbury-ceo- and-cfo-resign. htm (Cadbury CEO and CGO resign) – 2-3-10 x 2


http://www.swimming worldmagazine. com/lane9/ news/23276. asp?q=Speedo% 20President% 20Resigns (Speedo president resigns) – 2-2-10


http://www.boston. com/news/ local/rhode_ island/articles/ 2010/02/04/ ri_administratio n_revenue_ official_ resigns/ (Head of Rhode Island Department of Administration and Revenue resigns) – 2-4-10


http://www.washingt onpost.com/ wp-dyn/content/ article/2010/ 02/04/AR20100204 02959.html (Mayor resigns) – 2-4-10


http://www.gim- international. com/news/ id4396-Intermap_ CFO_Resigns. html (Intermap CFO resigns) – 2-3-10


http://www.pressofa tlanticcity. com/business/ article_328546d4 -0b00-11df- 8950-001cc4c002e 0.html (CRDA CFO Resigns) – 1-26-10


http://southflorida .bizjournals. com/southflorida /stories/ 2010/01/11/ daily34.html (Benihana CFO resigns) – 1-13-10


http://www.wealthbr iefing.com/ html/article. php?id=27981 (Credit Suisse head resigns)

http://matzav. com/r-leib- tropper-resigns- as-rosh-yeshiva (Jewish guy resigns) – 2-3-10


http://www.churchti mes.co.uk/ content.asp? id=88843 (Bishop resigns) - 2-5-10


http://www.kvsun. com/articles/ 2010/02/04/ kv_life/doc4b4cc 2845fc2560410442 5.txt (Pastor resigns) – 1-19-10


http://www.indiainf oline.com/ Markets/News/ IDBI-Banks- director- resigns/28472841 32 (IDBI Bank Director Resigns) - 1-14-10


http://online. wsj.com/article/ BT-CO-20100129- 717509.html? mod=WSJ_latesthe adlines (Blockbuster hedge fund manager resigns) – 1-29-10


http://www.global- view.com/ forex-trading- tools/research/ index.html? nid=19414 (Japanese Financial Minister Resigns) – 1-6-10


http://autonews. gasgoo.com/ auto-news/ 1013699/Volvo- chairman- Johnsson- resigns-in- unexpected- move.html (Volvo chairman resigns) – 1-16-10


http://www.rttnews. com/Content/ QuickFacts. aspx?Node= B1&Id=1202155%20&Category=Quick% 20Facts (CIT Group board of directors member resigns) – 2-4-10


http://www.silobrea ker.com/uk- general-insuranc e-chief-executiv e-resigns- 5_22631937810272 09234 (UK General Insurance CEO resigns) – 1-29-10


http://www.novinite .com/view_ news.php? id=112756 (World Bank VP resigns) – 2-3-10


http://www.moneycon trol.com/ news/business/ vishal-retail- president- quits-debt- recast-plantroub le_439953. html (Vishal Retails President resigns) – 2-4-10


http://www.business -standard. com/india/ news/syntel- ceo-quits- ranade-elevated- to-fill-position /384464/ (Syntel CEO resigns) – 2-3-10


http://www.business day.co.za/ articles/ Content.aspx? id=92985 (Deputy Director of Department of Mineral Resources resigns) - 2-5-10


http://www.etaiwann ews.com/etn/ news_content. php?id=1172689&lang=eng_news&cate_img=35. jpg&cate_rss=news_ Business (Taiwanese highway transporations official resigns) – 2-4-10


http://www.stuff. co.nz/waikato- times/business/ 3297615/AgResear ch-boss-quits (AG Research boss resigns) – 2-5-10


http://www.internet news.com/ bus-news/ article.php/ 3862876/Windows+ Veteran+Mike+ Nash+Leaving+ Microsoft. htm (Microsoft Veteran Mike Nash resigns) – 2-3-10


http://www.walesonl ine.co.uk/ news/cardiff- news/2010/ 02/04/bbc- radio-executive- quits-after- three-years- 91466-25759007/ (BBC Radio exec resigns) – 2-4-10


http://www.investeg ate.co.uk/ Article.aspx? id=2010020509000 07396G (Pik Group CFO Resigns) – 2-5-10


http://www.trucking info.com/ news/news- detail.asp? news_id=69322 (Greatwide CEO Resigns) – 2-5-10


http://in.reuters. com/article/ worldNews/ idINIndia- 45324320100112 (Tibetan governor resigns) - 1-12-10

http://ukpollingrep ort.co.uk/ guide/retiring- mps (120 UK Parliament members resign)

http://www.thestree t.com/story/ 10661374/ zale-tumbles- after-top- execs-resign. html (Zale CEO and execs resign) – 1-14-10


http://tbivision. com/article. php?category= 7&article=1359 (Sony Exec resigns) - 2-5-10


http://money. cnn.com/news/ newsfeeds/ articles/ marketwire/ 0583184.htm (Trilliant President resigns) - 2-2-10


http://www.pistonhe ads.com/news/ default.asp? storyId=21456 (Lotus engineering head resigns) - 2-3-10


http://investing. businessweek. com/research/ stocks/private/ snapshot. asp?privcapId= 2944035 (Tier one Bank CEO resigns) - 10-2-9


http://collectormen tor.blogspot. com/2010/ 02/comtech- systems-inc- ceo-h-neal- cropper.html (Comtech Sys. CEO resigns) – 2-5-10


http://www.audience development. com/2010/ robert+w+ allen+named+ dmas+interim+ presidentceo (DMA CEO resigns) – 2-5-10


http://www.retailin gtoday.com/ (S(ycsisw45gzl4p n45ekuapc45) )/story.aspx? id=127981&section=Hardlines&menuid=173 (Dollar General Prez retires) – 1-13-10


http://uk.finance. yahoo.com/ news/factbox- novartis- names-pharma- head-jimenez- as-ceo-reuters_ molt-6364fe18f19 9.html (Novartis CEO resigns) – 1-26-10


http://www.stltoday .com/stltoday/ business/ stories.nsf/ story/5F2FBDD841 56CFC4862576A900 0C47F4?OpenDocum ent (Savvis CEO resigns) – 1-12-10


http://newteevee. com/2010/ 01/13/realnetwor ks-ceo-rob- glaser-steps- down-one- day-after- coo-resigns/ (Real Networks CEO and COO resign) – 1-13-10


http://www.freshnew s.com/news/ 270925/ceopresid ent-omnireliant- resigns-replacem ent-named (Omnireliant CEO resigns) – 1-22-10


http://www.business spectator. com.au/bs. nsf/Article/ USCOM-CEO- resigns-ZDAFW? OpenDocument (USCOM CEO resigns) - 1-4-10


http://www.lasanbe. com/2010/ 01/abe-martinez- resigns-as- ceo.html (Medical Center CEO resigns) – 1-21-10


http://www.iddmagaz ine.com/news/ shays-resigns- from-cit- board-201789- 1.html (CIT Group board member resigns) – 1-12-10


http://www.business andleadership. com/news/ article/19215/ leadership/ aer-lingus- deputy-ceo- niall-walsh- resigns (Aer Lingus CEO resigns) - 1-20-10


http://money. canoe.ca/ money/business/ international/ archives/ 2010/01/20100111 -094514.html (Citigroup’s CEO resigns) – 1-11-10


http://thedraftdoct ors.com/family- health-articles/ cma-chief- resigns-after- two-months- on-job.html (CMA chief resigns after two months on job) – 1-21-10


http://online. wsj.com/article/ BT-CO-20100105- 707463.html (Domino’s CEO resigns) – 1-5-10


http://www.tradesig nalonline. com/Markets/ Story.aspx? id=568205&cat=3 (SLM Chairman Resigns From CIT Board) – 1-5-10


http://www.tradingm arkets.com/ news/stock- alert/stba_ s-amp-t-bank- s-cfo-resigns- 742593.html (S&T Bank’s CFO resigns) - 2-1-10


http://dubaimedia. blogspot. com/2010/ 01/arab-media- group-chief- resigns.html (Arab Media Group chief resigns) - 1-18-10


http://www.thenews. com.pk/daily_ detail.asp? id=222376 (Top KESC official resigns) – 2-4-10


http://www.telecomt iger.com/ Policy_Movement_ fullstory. aspx?storyid= 8135&passfrom=vasstory&section=S205 (MTNL CMD R S P Sinha resigns) – 1-12-10


http://www.oilandga sinquirer. com/printer. asp?article= %2Fdob%2F100105% 2Fdob2010_ j50006.html (International Sovereign Announces Resignation) – 12-31-9


http://investing. businessweek. com/research/ stocks/snapshot/ snapshot. asp?ticker= AVGL:IT (CEO of Avgol Industries resigns) – 1-1-10


http://www.nrn. com/breakingNews .aspx?id= 378818 (Arby’s chief Tom Garrett resigns) - 1-28-10


http://www.rttnews. com/ArticleView. aspx?Id=1203111&SMap=1 (Leeward Capital CEO, CFO Resign ) – 2-5-10


http://www.montrose press.com/ articles/ 2010/01/29/ news/doc4b6127b0 82edf740960823. txt (Director, board president resign) – 1-28-10


http://www.baltimor esun.com/ sports/horse- racing/bal- sp.digest220jan2 2,0,1028159. column (CEO of steeplechase organization resigns) - 1-22-10


http://www.streetin sider.com/ Management+ Changes/NTN+ Buzztime+ %28NTN%29+ CEO+Terry+ Bateman+to+ Resign/5250573. html (NTN Buzztime CEO Resigns) – 1-15-10


http://business. nashvillepost. com/2010/ 02/05/iasis- director- resigns/ (Iasis director resigns) – 2-5-10


http://www.business week.com/ news/2010- 01-07/getty- museum-s- brand-to- resign-as- director- following- budget-cut. html (Getty Museum’s Brand resigns as Director) – 1-8-10


http://news. alibaba.com/ article/detail/ markets/10023770 9-1-udpate- 1-indonesia- danamon-ceo- resign.html (Indonesia Danamon CEO resigns ) – 1-24-10


http://www.theregis ter.co.uk/ 2010/01/05/ opera_ceo/ (Opera co-founder and CEO resigns) – 1-5-10


http://www.reuters. com/article/ idUSSGE6030JH201 00104 (Convergys director resigns) - 1-4-10


http://www.freshnew s.com/news/ 270189/internet- america-announce s-resignation- presidentcoo (Internet America President/COO resigns) – 1-31-10


http://pagosasun. com/archives/ 2010/02%20Februa ry/020410/ webgarvinresigns .html (Garvin resigns at Pueblo Community College) – 2-1-10

http://www.brushnew stribune. com/ci_14173395 (EMCH CEO Resigns) – 1-12-10

http://www.silobrea ker.com/why- is-sean-menke- leaving-5_ 2263163784975613 977 (executive vice president and chief marketing officer for Republic Airways resigns) – 1-15-10

http://boston. bbn3.com/ sectors/director y/local-news- updates/25626 (Boston’s public-works director resigns) – 1-8-10

http://www.prnewswi re.com/news- releases/ primary-energy- recycling- corporation- director- resigns-83674577 .html (Primary Energy Recycling Corporation Director resigns) – 2-5-10

http://www.tradingm arkets.com/ news/stock- alert/3012538z_ kb-financial- s-chief-director -resigns- amid-reform- 759059.html (KB Financial’s chief director resigns) - 2-7-10

http://www.informat ionweek.com/ news/windows/ microsoft_ news/showArticle .jhtml?articleID =222601216 (Key Microsoft Exec Resigns) – 2-4-10

http://www.mortgage strategy. co.uk/lenders/ news/dan- watkins-resigns- as-managing- director- of-mortgages- at-lloyds/ 1006323.article (Dan Watkins resigns as managing director of mortgages at Lloyds) – 2-5-10

Retirements:

http://newsroom. bankofamerica. com/index. php?s=43&item=8543 (Bank of America CEO retires) - 12-31-9


http://www.retailin gtoday.com/ (S(zk2bdc45knlzv r55joxleb45) )/story.aspx? id=129093&section=HomeHousewa res&menuid=167 (Williams Sonoma CEO retires) – 1-27-9


http://www.cnpa. com/full_ story.cfm? id=1434 (USA Weekend publisher retires) – 2-3-10


http://www.investme ntnews.com/ apps/pbcs. dll/article? AID=/20100124/ REG/301249960 (Securites America CEO retires) – 1-24-10


http://sanjose. bizjournals. com/sanjose/ stories/2010/ 02/01/daily102. html (Shop.com president retires) – 2-5-10


http://www.bizjourn als.com/triangle /stories/ 2010/01/11/ daily29.html? ana=from_ rss&utm_source=feedburn er&utm_medium=feed&utm_campaign= Feed:+bizj_ triangle+ (Triangle+ Business+ Journal) (Doe and Ingalls CEO retires) – 1-13-10


http://www.rep- am.com/articles/ 2010/02/04/ business/ 459353.txt (Thomaston Savings Bank CEO retires) – 1-7-10


http://www.cutimes. com/News/ 2010/2/Pages/ SDCCUs-Oberbauer -Retires- Citing-Health. aspx (San Diego Credit Union CEO retires) - 2-4-10


http://www.bizjourn als.com/nashvill e/stories/ 2010/02/01/ daily14.html? ana=from_ rss&utm_source=feedburn er&utm_medium=feed&utm_campaign= Feed:+bizj_ nashville+ (Nashville+ Business+ Journal) (Central Parking CEO retires) – 2-2-10


http://houston. bizjournals. com/houston/ stories/2010/ 02/01/daily21. html (Aztec CEO retires) – 2-2-10


http://www.travelwe ekly.com/ article3_ ektid209768. aspx (Ritz Carlton exec retires) – 2-4-10


http://www.editoran dpublisher. com/eandp/ news/article_ display.jsp? vnu_content_ id=1004064909 (USA Weekend CEO retires) – 2-3-10


http://www.moneyman agement.com. au/article/ Silk-retires- from-ASFA- board-of- directors/ 510721.aspx (ASFA director retires) – 2-5-10


http://www.streetin sider.com/ Management+ Changes/ZBB+ Energy+(ZBB) +COO+Steven+ Seeker+to+ Retire;+Scampini +Appointed+ to+EVP/5313121. html (ZBB Energy COO retires) – 2-5-10


http://finance. yahoo.com/ news/MuniMae- Announces- Director- bw-778445129. html?x=0&.v=1 (MuniMaed Director retires) - 1-20-10


http://www.amtonlin e.com/article/ article.jsp? siteSection= 1&id=10099 (Universal Avionics Sr VP retires) – 1-18-10


http://www.oregonli ve.com/business/ index.ssf/ 2010/02/evraz_ north_america_ ceo_james. html (Evraz Inc CEO retires) – 2-5-10


http://houston. bizjournals. com/houston/ stories/2010/ 02/01/daily49. html?surround= lfn (Sysco President retires) – 2-5-10


http://www.news8aus tin.com/content/ your_news/ default.asp? ArID=262486 (3 Republicans retire) – 12-29-9


http://www.autoevol ution.com/ news/jaguar- land-rover- ceo-resigns- 15851.html# image1 (Jaguar CEO retires) – 1-26-10


http://wood. lesprom.com/ news/42493/ (NewPage CEO retires) – 1-19-10


http://www.presscon nects.com/ article/20100113 /NEWS01/10011303 1/Binghamton- University- President- DeFleur-to- retire (Binghamton University President DeFleur retires) – 1-13-10


http://www.weeklyst andard.com/ blogs/re- wow-colorados- democratic- governor- retire-after- one-term (Colorado governor retires) – 1-5-10


http://www.insidein dianabusiness. com/newsitem. asp?ID=39962 (Vectren CEO to Retire) – 2-3-10


http://www.ajc. com/news/ atlanta/presiden t-of-art- institute- 291345.html (President of Art Institute of Atlanta to retire) - 2-4-10


http://www.blackent erprise.com/ top-news/ 2010/02/04/ gymborees- lambert-to- retire-harris- to-become- cfo (Gymboree’s CFO Retires) – 2-4-10


http://www.oregonli ve.com/business/ index.ssf/ 2010/01/russ_ danielson_ providences_ ore.html (Providence’s Oregon CEO retires) – 1-14-10


http://www.bangorda ilynews.com/ detail/135625. html (Sebasticook Valley Hospital president retires) – 1-27-10


http://www.post- gazette.com/ pg/10008/ 1026708-53. stm#ixzz0en14Gyb z (Carnegie Museums president retires) – 1-8-10


http://www.tri- cityherald. com/901/story/ 872948.html (Health alliance director retires) - 1-22-10


http://m.commercial appeal.com/ news/2010/ jan/17/truck- patriarch/ (Comtrak Logistics CEO retires) – 1-17-10


http://www.dfnionli ne.com/article/ Manchester- Airports- Group-CEO- to-retire- 1859512.html (Manchester Airports Group CEO retires) – 1-29-10


http://www.nctimes. com/news/ local/oceanside/ article_da108df2 -ddd5-57af- 8f68-d47ad764e1f 5.htm (OCEANSIDE: Museum director retires) – 1-3-10


http://www.miningwe ekly.com/ article/indonesi an-nickel- firm-incos- ceo-to-retire- in-march- 2010-01-26 (Inco’s CEO retires) – 1-26-10


http://www.sonomane ws.com/articles/ 2010/01/11/ news/doc4b4bdfbe e2a8c594378020. txt (Hospital CEO retires) – 1-11-10


http://www.nei. org/newsandevent s/newsreleases/ nei-veterans- felix-killar- chinch-wollerton -to-retire- from-organizatio n-later-this- year/ (NEI Veterans retire) – 1-27-10


Turnover news:

http://www.manageme nt-issues. com/2009/ 1/16/research/ ceo-turnover- hits-new- high.asp (CEO turnover hits new high)

http://www.smartcom pany.com. au/finance/ 20091127- ceo-turnover- soars-during- downturn- survey-shows. html (CEO turnover soars during downturn, survey shows)

http://www.business week.com/ careers/manageme ntiq/archives/ 2009/10/ceo_ turnover_ a.html (CEO Turnover: A Sign of Recovery?)

http://latimesblogs .latimes. com/money_ co/2010/01/ ceo-turnover- in-2009-falls- to-lowest- point-in- five-years- .html (CEO turnover in 2009 falls to lowest point in five years)

http://money. cnn.com/2009/ 01/15/magazines/ fortune/manageme nt/CEO_fired. fortune/index. htm (CEO departures break record)

Strange moves:

http://www.colorado .edu/news/ r/35582f0f0b3882 803b01e0177be716 4e.html (Walt Disney Executive to Join CU-Boulder as Adjunct Professor)

http://www.cbc. ca/canada/ ottawa/story/ 2010/02/04/ deep-river- lachlan-cranswic k.html (Scientist from National Research Council’s Canadian Neutron Beam Center disappears)

http://www.washingt onpost.com/ wp-dyn/content/ article/2005/ 05/05/AR20050505 01860.html (CIA moving to Denver)

http://philobiblos. blogspot. com/2007/ 12/vatican- observatory- relocated. html (Vatican observatory relocated)

http://www.metal- supply.com/ portal-b2b/ article/view. html?id=44219 (Changes in Ruukki´s management)

http://www.boerse- express.com/ pages/848136 (Kashkari moves to woods)

http://www.denverpo st.com/news/ ci_14196311# ixzz0eth7a5n5

http://www.denverpo st.com/news/ ci_14196311# ixzz0enlE8q1X

http://www.denverpo st.com/news/ ci_14196311# ixzz0eth7a5n5 (Republic Airways to move Frontier’s headquarters out of Denver)

I would think that there are many, many reasons for these changes.
Every telecoms company is currently having a hard time. That is just a fact of the current economic climate. A NEW phone or NEW service (that is not cheaper than the currently owned one) will wait.
Banks - well, to be honest, most of the CEOs & Boards of companies that gambled with shareholder & investors money should have been dismissed.
Plus there are other reasons...take the first 1 on your list, Sun. they have just (January 2010) been taken over by Oracle. Hardly surprising that the CEO & Board might have changed.
Lenovo

Lenovo lost $97 million last quarter--which resulted in the laying off 11 percent of its workforce--due partly to the fact that it is so heavily invested in large commercial customers

. This is the Chinese company that bought IBMs pc production. They sacked their American CEO & replaced him with the Chairman (a Chinese national).

I just think it is 'just normal business' WBU. That there is a great deal of it happening in certain sectors just shows what a bad time those sectors are having...