Some big-name companies and their CEOs have parted ways this year

Some big-name companies and their CEOs have parted ways this year.

This has been seen in companies operating in industries ranging from aviation and fitness to apparel and technology, among others.

Boeing, Nike, Peloton, WeightWatchers, Nike and Intel among companies with CEO departures in 2024

David Calhoun

In March, Calhoun revealed his plans to stop serving as president CEO of Boeingjust over four years after he first assumed that position.

“I have been considering for some time, in discussion with our board, the appropriate timing for a CEO transition at Boeing,” he said in a letter to employees at the time. “I want to share with you that I have decided that this will be my final year as CEO of our great company, and I have informed the Board of Directors of this decision.”

He said Boeing “will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything we do” during the transition period.

The company has been working to recover from headwinds caused by the crashes of two 737 MAX 8 planes several years ago and, most recently, a door connection panel on a Boeing 737 MAX that separated mid-flight in January.

Boeing appoints Kelly Orberg as new CEO

Kelly Ortberg has led the airline since late summer. His first day as CEO was August 8.

“My mission here is very clear, which is to turn this big ship in the right direction and restore Boeing to the leadership position we all know and want,” Ortberg told analysts and investors during the company’s quarterly earnings call in October. to focus.

The company announced the delivery of 291 commercial aircraft and 76 defense, space and security aircraft during the first three quarters of the year.

Barry McCarthy

Barry McCarthy ceased to exist CEO of Peloton in May, prompting the fitness company to name Karen Boone and Chris Bruzzo as interim co-CEOs while it searches for a permanent successor.

After a spike in business during the pandemic, Peloton has struggled to remain relevant as people returned to traditional gym workouts when social distancing restrictions were eased. To cope with declining sales, it has made various efforts to reduce costs and expand its customer base.

Peloton said in October that Ford CEO Peter Stern would take over as CEO at the beginning of January. Brozo stepped down as interim CEO in early November, with Boone continuing to run the company in the meantime.

Peloton is known for its exercise bikes, treadmills, and rowing machines.

Especially Al-Sistani

Al-Sistani left WW International in late September, marking the end of her two-and-a-half-year tenure as CEO.

At the same time, WeightWatchers has appointed Tara Comunti as its interim CEO. The company said she takes on the position “at a time when the company is focused on improving its operational and financial performance while continuing to build on the innovation of its products and solutions for members.”

WEIGHTWATCHERS CEO Sima Sistani makes a surprise exit and takes weight loss medication

The company has been around since 1963. It has long offered weight loss and weight management programs, and has recently delved into access to weight loss medications.

About 3.7 million people had subscriptions to various WeightWatchers offers at the end of the third quarter.

John Donahue

Nike underwent a CEO change in mid-October, with Donahue retiring on October 13. He “will remain an advisor to the company to ensure a smooth transition until January 31, 2025,” the company said at the time.

“It has become clear that this is the right time for a leadership change, and that Elliott (Hill) is the right person,” Donahue said in a statement, adding that he “looks forward to seeing Nike and Elliott succeed in the future.” His tenure as CEO spanned more than 4.5 years.

hill He came out of retirement To take the top job at Nike.

During the company’s earnings call earlier this month, the new CEO said Nike has “lost our obsession with sports” and will “lead sports and put the athlete at the center of every decision” moving forward.

He also said that the athletic footwear and apparel company will “return to leveraging deep sports insights to accelerate innovation, design, product creation and storytelling” and “rebuild an integrated marketplace,” among other things.

Pat Gelsinger

Gelsinger, who became Intel’s CEO in February 2021, retired at the beginning of December.

“As a leader, Pat helped launch and revitalize manufacturing operations by investing in cutting-edge semiconductor manufacturing,” said Frank Yeary, Chairman of Independent. “Although we have made significant progress in regaining manufacturing competitiveness and building capabilities to be a world-class foundry, we know we have a lot of work to do at the company and we are committed to regaining investor confidence.”

Intel CEO Pat Gelsinger is retiring as the chipmaker struggles

David Zinsner and Michelle Johnston Holthaus have been interim co-CEOs since his departure. Intel will We will continue to “simplify and enhance our product portfolio and develop our manufacturing and foundry capabilities while optimizing our operating and capital expenditures” along the way, Yeri said.

How many CEOs left their companies this year?

The Challenger, Gray & Christmas report, published earlier this month, found that 1,991 CEOs disclosed plans to separate companies during an 11-month period spanning January through November.

Last month there were 167 According to the report.

Stepping down has been cited as the motivation behind CEO departures more than any other reason so far this year. “No reason given,” retirement, “new opportunity” and resignations are among other common reasons, the report said.

The use of interim CEOs has increased, with Challenger, Gray and Christmas finding that 13% of replacements in 2024 take on such roles. In 2023, it reached 7%.

Daniela Genovese contributed to this report.