Chief executives are joining in on the “Great Resignation”. Research shows that the number of departing CEOs in the final quarter of 2021 was up 16% year on year. In 2022 alone, the CEOs at Rolls-Royce, Peloton and Starbucks have left their posts.
For Starbucks CEO Kevin Johnson, stepping down simply marked the end of his career. In a statement, Johnson said that he notified the board in 2021 of his plans to retire once the pandemic came to an end. "I feel this is a natural bookend to my 13 years with the company," he added.
Meanwhile, Blackwells Capital published a damning slide desk highlighting Peloton’s lacklustre results, gross mismanagement and the “ongoing failures of its leadership team”. Soon after, the fitness firm’s co-founder and chief John Foley resigned.