they aren't quitting. they're being fired. most ceo's that were fired pretended to resign. it's common policy to let top officials resign in disgrace than to be fired.
Lol this is exactly it. I am in HR and we “retired” a lot of people but it’s not from their own choice. It’s typically the stockholders or owners of companies.
@Scarsofevil dont trust companies. Even a lot of employees that say they are leaving, a lot of them are involuntary terminations. They sign an NDA so they cant slander the company or else HR will hold their severance. So happens all the way to the top.
I am in HR. The company I work for, the CEO was forced out. But of course, it was communicated the CEO has retired/left for “other opportunities”/etc. The reality is most of these CEO’s are fired.
Very similar to why we just watched the unemployment rate "fall" from 3.9% to 3.7% even though hundreds of thousands of upper middle-class earners (making $70k-$120k) are losing their jobs. Those same people are picking up multiple jobs to try to make ends meet. 2024-2025 is going to be worse than 2008, and not a single piece of math says otherwise.
No, they're jumping off ship before the ship capsizes. If you have massive resignations from employees, as well as job cuts, then it only follows that the company is not doing well. And, if you are the CEO, then your given a bad hand, so before it sinks they take whatever they can and run. I've seen this personally from the company I left.
in my opinion they are not quitting fast enough and big enough numbers...useless CEOs, CTOs and other overpaid incompetent idiots with overinflated egos are everywhere in the largest companies in S&P 500 & FTS 100
5:48 "Employees have a unique connection to their CEO" No, no they don't. Not in a Fortune 500 or arguably 1000 company. The CEO on paper, leads organizations to carry out the strategy and create value (should*); the board of directors provides direction and oversight to protect shareholders (Make money for shareholders) and broader stakeholder interests (anyone else who invests and makes money off the company). The CEO may take credit for strategy and "leadership", but that only works when the profits are coming in and are up. As others have mentioned, once the money stops flowing, or there is a reputation hit to the company and there is a need for a scapegoat, the CEO is often fired (resigns/retires). The game seems to be to get the large salary and get the resume buffed up for the next position in the "C" suite. It is an outdated and often superfluous position. If the CEO was that critical, once that person left, the company would cease to function.
If you feel that way, you feel like companies are being robbed, and that companies in America are currently victims, and not insanely profitable. This is what I hate so much about ignorant Americans. You can't even be consistent. You think the company is being plundered, and think the company is making record profits. Which is it? They're literally opposite opinions. Even more stupid, rich people own the stock of the company, so you're suggesting that CEOs are robbing rich people, and getting away with it. You literally don't understand the hierarchy of America. Ceos are not the rich... They work for the rich. Just because Elon Musk is a rich CEO doesn't mean that the average CEO is wealthy, relative to actual rich people(Jesus my numbers are distorted now). It's insane, the info is literally public, and Americans still don't know where rich people keep their money. I've seen people play games poorly, but this really is beyond mind boggling.
Fun fact. Ceo's in the 80s made 20 percent more than their employees on avg. A new reports shows now they make 200 percent more than their employees on avg. Smh
So what? If we took mary Barra pay of 30 million, which is high, and divide it among her 167k workers. We can pay each worker an additional $180. The reason they focus on CEO pay is so that you guys won't be able to focus on the real issues in America. Absolutely nothing will change for you if we pay CEOs nothing and give it to all the workers. It's a less than 0.5% pay rise for Americans.
How to be a CEO: Create an initiative with a fancy new name, like "artificial inferential paradigm." Take every management trend and deploy it under the initiative. Every success you attribute to the initiative, and every failure you attribute to your predecessor or anomalous events. Release a balance sheet that attributes all of the black ink to your initiative, and all the red ink to one-off charges. Done!
How to be a CEO: Hire the absolute best people you can find and help them communicate a vision to everyone else and then keep the problems out of their way so they can do their jobs. Just hire people smarter and better than you in every way and you'll be successful at any leadership role.
@@MrApw2011 But how do you promote yourself and get better and better paying jobs if you're not taking credit for other people's ideas and work? CEO's are not really there to lead, because leaders make mistakes and have to be responsible and take responsibility, and CEOs are supposed to be infallible and deliver quarter after quarter of increased earnings. CEO's are there to deliver buzz and excitement and be the mysterious secret weapon, so that when they inevitably fall short of expectations, they take their golden parachute and another magical CEO takes his or her place. The cult of personality surrounding the C-suite is as much the fault of investors as management.
It's hard for me to feel sorry for a company hiring a new CEO for millions a year and calling it a "difficult" time. CEO's don't NEED to make that much money.
I hear you, but for publicly traded companies the expectations of the job drive the salary. Profitability and Shareholder returns matter the most. If a ceo isn’t delivering, they quickly find a replacement.
@@fzakrzewski when the stock and profits drop, the ceo is the 1st on the chopping block. lol, but what’s your solution for a free market? Cap ceo salary? The moment we cap ceo and executive salaries, companies will no longer be incentivized to grow their market cap. If market caps fall, the stock market will fail. Money will flow into new investment vehicles like real estate which will dramatically increase the cost of housing. Stop being naive and blaming CEO’s.
I'm sorry but American Wages for nearly everyone have been stagnant for decades meanwhile CEO's have been seeing steady raises that whole time? I can't imagine where all the money went or why I can't pay my bills anymore. LET THEM QUIT! When they come crawling back, pay them less than half what they've been making and distribute the rest to the workers!
A ceo makes 30 million(this is high, and not normal). They have a million workers. We cut their pay in half. 15 million. Each worker gets 15 dollars. Are you happy? This is the problem with americans, you guys don't understand anything about the businesses you're talking about and have never looked at the numbers. You're just a mad someone else is making money. Even if all CEOs in America made $0, that would increase worker pay by less than $100.
@@misterfunnybonesstock BuyBacks don't magically inflate anything. You're increasing ownership in the company.... through stock buybacks, warren Buffett has gone from a 10 ownership to a 15% ownership and a company(not the exact numbers obviously). You don't think that owning more of a company increases its value? That isn't more money to less people either, because you own the stocks through your retirement funds. God, I hate this so much. Just stop taking companies public and letting normal people get any benefit imo. Keep this all private, in the hands of the rich, where we don't have to give you ANY INFO. then your 401k can just invest in 3% yielding government bonds, and leave the investing in corporations to the rich, since you don't like owning these terribly run companies anyway.
They've bolstered their retirement portfolio with years of stock buybacks & it's time to cash out & spend some time in their multiple homes & the yacht.
Рік тому+32
I want to be a CEO for just one year if I'm getting paid millions then I'd quit and retire. These CEOs make more in a year than what regular workers make in their lifetime.
Then do it. Start a company. No one is stopping you from riding the corporate ladder either. Lots of people I know have made millions working at these companies at levels far below ceo. Lol. You do realize some companies pay engineers more than ceos? Some traders have made more than ceos? Ceo pay has to be reported. If Apple pays an engineer 30 million a year, that doesn't have to be reported. In fact, a lot of engineers make 7 figures, to do basically nothing. Just so they don't leave and start competing companies. Same with investment bankers, traders, hell, I seen people pull 9 figure paychecks lol. Hell, come to mention in, in my industry, in slightly adjacent fields, you can make a million dollar bonus, at entry level.
@@Tential1no one cares to hear you BS George. Fkn know it all. Someone surrounded by wealth and success also so full of knowledge yet here you are bashing people for making a simple comment on youtube. Fk I could have a great life with 16 million too. That was his point.
Рік тому+9
@@Tential1 These CEOs that are quiting didn't start these companies lol.
Sounds like the high cost of replacing a CEO is a systemic problem, where the people at the top are being paid way too much. Perhaps if the people at the top weren't paid many times more than the average worker this problem would be resolved. Sounds like a them problem.
If a ceo was paid 0, the average company could raise employee pay by $100 per employee. Probably less. Ceo pay has nothing to do with average worker pay. Workers work for the company. The CEO works for the boss the shareholders. As a shareholder, I'm happy to sign off on a 50 million a year ceo, and I voted for it. I am happy to pay Jamie Dimon whatever he wants. Because that's my decision, and I want the comfort of Jamie Dimon NOT LEAVING. I don't care how much you make as a bank teller. You're replaceable. As a shareholder, I don't care you make 1/10,000 of what Jamie Dimon makes. Because I'm not firing you if things go wrong. I can only fire him. So when Jamie Dimon grows my wealth 13% a year, and he wants a little off the top? I don't care. Because if I pay him 0, it won't increase my 13% a year return by a meaningful amount, but if I lose Jamie Dimon, and I get an idiot, I could literally lose my whole investment. That's why we pay ceos.
I am by no means defending their salaries. But someone needs to be the face of the company and steer them in a direction to turn a profit. So investors are happy and workers keep their jobs. The amount of people actually qualified to run a company, competently, is a very small number. Investors and board members will gladly pay one of the few qualified individuals to run their company to avoid getting someone unqualified. Though it’s brash, I think the comment above mine explains this the most honestly.
Around age 45 I lost interest in the BS working in an office and the stupidness I encountered daily. 10 years later I never looked back. Worked alot of different jobs since then. Give me $15 a hour and some friendly people to work with.... This isn't hard and makes me happier ! I knew it was time to leave the office environment when I thought to myself "If I hear one more acronym I'm peeing on someone's feet" !
@@robierpeople act like CEOs pay themselves, shareholders approve CEO pay and all of you own shares. If you have a retirement fund, you approved ceo pay. I don't understand why people don't get this.
@robier When a CEO is promoted internally, is it purely from a position meant to groom for a future CEO? Usually the do have a history in a market segment but not necessarily in the company. The pipeline for a CEO of a company shouldn't be a 2 year trial run, followed by a stint draining the company as CEO. It's fun to go through these CEO LinkedIn pages and see how little these people have actually experienced their companies work culture they are supposed to cultivate.
@@Tential1people get it, not hard to understand. It’s the fact that at the same time the board will approve that and fire employees that doesn’t make sense. Also why does a CEO need to make on average 140-300x what the average worker makes? Or not give out bonuses to high performers but still raise pay for the board/CEO. I understand good CEOs can drive value but it’s the people at the end of the day who do the work. Everyone is fine with high ceo pay just not where it is currently.
Without the CEO, the whole company would crumble! Production will stop, and people will go hungry! Quick! Let's fork out millions more to keep the CEO from resigning!
If you're a well-run company, I don't understand why it should be so expensive to replace your CEO. Just promote someone internal. If you had a good CEO before they should have been preparing the next batch of executives anyway. Also, why is severance mentioned as a cost if they're quitting/resigning?
I remember when companies defended CEOs and tried to justify paying them extraordinary high compensation packages only to see this video come out. It's hilarious to see how companies are becoming more stupid and only think growing faster and hitting record numbers each quarter is the ideal situation rather than having realistic and sustainable goals. Not that they should ignore investors but given that the environment changed in a dime with higher interest rates in the last couple of years I'm willing to bet investors are flocking to companies that have sustainable balance sheets more now than company trying to grow their way out of debt.
@@pageek3487no, it's not well said. This has been the case, FOREVER. You in the general public think ceos have safe jobs. The CEO average tenure has always been 3-5 years. The turnover for ceos has ALWAYS been high. I have a few companies I invest in, where the CEO was pushed out, and the CEO out performed Warren buffet. This idea ceos do nothing and just get paid, and have safe jobs are because normal people DO NOT FOLLOW BUSINESS.
Ceos are being fired for not hitting high rates. Not because they don't have some magical "sustainable growth". Really, this is why Americans deserve to be poor. You don't know anything about corporations, despite all the info being public. How do you play when you refuse to learn? The companies attracting the most attention have the most insane growth rates. "sustainable balancesheet" is buzz words. The same companies are getting the most attention, because they're dominant. Amazon(20-25% top line) , Microsoft(18%+ net income) , Apple(worst of the group, 9% net income), Tesla(30% top line), Nvidia(30% net income growth, this one is straight bonkers), Facebook(18% ish net income, same as Google) and Google. All of those growth rates are straight stupid. That's why we call them the magnificent 7. If any of these companies added more debt they would just get more investment because you don't understand the math of how any of this works. Investors want these companies to add more debt. You have no idea how much debt we use. We aren't afraid of debt. We love debt. Because we don't like dollars. You don't understand the game we're playing.
In the past the difference between salaries of CEO and normal employees were significantly smaller. Also, in the USA the gap is bigger than, let's say in Japan. Economist Ha-Joon Chang gave analysis on this. And no, they don't bring more value than in the past.
Gap between compensation of today's CEO to 1st level worker is mind-boggling. Few years as a CEO, one no longer needs to work for rest of life - so they go off to burn $ off. Everyone will do the same.
@@AnimeBeefRandoms Is it harder than what used to be ? Does it become harder by hours that the gap between Level 1 and CEO compensation keeps increasing ?
@@bkk5153 Yes, it's harder to get up there and it's harder to do the job well. Plus it's results-based anyways. A good singer and a bad singer can sing the same song but no one wants to pay to listen to bad singing.
I think we need to increase average CEO pay further to encourage them to stay on, I think the CEO of my workplace for example only gets around £8 Million a year (around $9 Million), which isn't enough to cover the shaking hands with other CEOs and using buzzwords in interviews 2-3 times a year.
You think starting a company is equivilant to jumping in to a pre made one? Also am I going to get paid £8 million for running a start up? Also your argument is widely used and not very smart, "You can't say a meal out is bad unless your a mitchlin star chef, you can't dislike a movie at the cinema if you arn't a holywood producer" I can keep going but just a silly comment all round. Would have more respect for trying to make the case they earn the paycheck through hard and stressful work which it is but that argument falls apart as CEO pay rates 80 years ago would be equivalent to 1-2 million in todays money and CEOs weren't stupid or bad back then their wages have just grown disproportionately. @@Tential1
Who cares? They gave huge salaries and huge severances. You need to make a video about why we need to not allow CEOs and their rich executive buddies to be paid what they are. People complain everyday about money. You wanna know where the money is? With them. The Fed needs a law where we need to get a maximum/minimum wage ratio installed where a CEO can't make more than 5 times the average worker. No more stock options, just stick salary. I made 100k, CEO makes 500k. That's it. All that money that is freed up, goes to everyone below the CEO and the rich executive buddies. So, this has direct impact on peoples lives again. THIS IS THE MAIN PROBLEM IN TODAY'S LIFE. People just aren't getting paid enough because of what I stated above. Make a story on that.
@@naturegirl2110OK, so if they squeeze companies for all they're worth and quit, how are companies profitable? How are they making record profits each year? These are literally opposing ideas. You're probably really good at nature. Don't get me wrong, put me in the wilderness with you, I'm dying. But when it comes to business, you clearly don't understand this. I get it, everyone says this idiocy, but maybe think about it for a second. If companies are being squeezed for all they're worth by the CEO, then why do rich people own 90% of the stock market, which is ownership of those companies? How can the CEO, rob people who own the company, who are also rich? Those many rich people would have one easy target to get rid of.... To be honest though, in my opinion, if people are just gonna blindly regurgitate things that have obvious logical fallacies, they deserve to lose the game of wealth.
@Tential1 I think a may have a fairly good understanding of how money works. How do they make record profits? Here's one way. Fire employees while cutting the hours of current employees. 1 employee is forced to do the job of 3 to 4 people with said reduced hours. While products sold by said company prices are raised. What's the result? Record profits. Higher prices plus reduced staffing costs = those profits you were talking about. Plus, with reduced staffing, the other costs are reduced as well, like electricity, water used by staff, equipment like computers, etc.
They already made their retirement after capping out at the top of the last round of stock market hikes. They made their own golden parachute. On the other hand, some companies very dependent on manual labour struggled during the pandemic and are atill in a long-term recovery to re-achieve stable positive revenue.
CEOs are WAY overpaid. Their pay should be tied to the companies overall profit. The higher the position within a company the closer to the companies overall profit their salary should be.
@@nerios.v on the contrary. Because Amazon is making a profit, Bezos would be making his income too. But any company like Coors Light, Walt Disney, Target, Star Bucks, etc. Who is losing money, their senior executives should not be getting the high salaries. Their salaries and bonuses should be cut as well. Understand the statement made. None said anything about the staff. It was only for the CEO and senior execs who have these big incomes and bonuses when companies are not doing well.
In my country there is a law, with a tax ruling, which states that CEOs, who get generous bonuses, will have to pay these back if (years) later the CEO took business decisions which were or came out to be bad for the company, the environment, the employees, the tax system or human rights. The reclaiming of bonuses doesn’t have a statute of limitations. And severance packages, payments or golden handshakes when a CEO leaves are included in this ruling, and have a maximum of 1 year salary, performance bonuses have a maximum of 20% of their annual salary. Bonuses are excluded when the CEO leaves voluntarily or on his own behalf, when the CEO did a bad job, underperformed or failed his task. This forces them to take good informed decisions, taking all angles in mind. If a company doesn’t obey this tax ruling, the bonuses will have a tax rate of 100%, without deductions. It works just fine.
I bet that country has no innovative companies and instead relies on oil or some other natural resource, a country with no contribution to the progress of humanity
Easiest way to get the huge payouts. No joke. Look it up, it's the easiest way to make money. ONE, become a CEO. TWO, fire a bunch of people. THREE, pay yourself and some cronies "bonuses"... and bail. *That's the system*. Accept it, and don't shoot the messenger.
Please... what a joke. Most are hired at already pre-established companies. They get to come in and basically gamble 🎰 with investors money 💰 while making millions in the process. They basically win 🏆 regardless of how well a company does. We can do better people! Enough of these top down antiquated hierarchies where a handful rule over the many. 😶
Hilarious! When it was individual contributors quitting to trade up to higher salaries during the Great Resignation, these guys bellyached "Nobody wants to work anymore." But now the shoe is on the other pink slip, and boards are increasingly impatient with leaders that don't deliver Nvidia-esque returns and the top jobs is starting to feel like, you know, a job. Good time to strap on the golden parachute, fly the corporate jet over your Aspen chalet, and "spend more time with your family" (oh, and join a few of your friends' boards to rake in options for a few days of meetings a year).
I’d quit too if I got paid MILLIONS a year! Companies should try hiring ACTUAL lower level employees as CEOS they’re the ones that actually know the jobs and DO the work!
Most ceos are internal... So what? Most of you are just saying things, and NEVER follow the business world, because what you're saying actually already happens, or doesn't happen for insanely Obvious reasons, if you actually cared to look into it.
CEOs are the modern day equivalent of a Feudal Lord. I don't know why we think democracy is so important in modern times if we support this arrangement of a corporate Lord. The CEO gets to lay off massive numbers of workers as soon as they move in, just because they want to move in their own people. How are we ok with this arrangement? I'm not. I've seen it first hand, two times. A narcissistic CEO upending hundreds of people's lives, just to hire the same number of people from past companies they worked at. But of course, it was really due to "difficult financial times".
I don't care that they're getting paid this much but, I do agree that the way they are being paid is stupid, and I do not like paying them up front. I like paying for stock return, which is why I liked Elon musk's compensation package because it meant that he had to 10x the stock value before he got paid. Sadly, he didn't way faster than I thought he would so I never got to buy as much stock as I wanted to. I didn't think he'd do it I under 2 years...
With financialization of even non-financial sector companies, the company may have brought forward much of its estimated future earnings into tradable assets which can be sold today. Perhaps CEOs are realizing today is the optimum time to cash out as financialization has made it near impossible to enable their companies to actually reach the estimated performance levels.
CEOs and the executives are simply overhead. The floor level employees are the ones who make or break a company. Things I want to see from my CEO, clear communication regarding company locations, position, goal and performance. I want to see investments and improvements in my operations. I want to know how we stackup against the competition.
So it doesnt involve executives continually marketing themselves to other businesses, and trying to get that bigger paycheck or office or benefit. While businesses are left with their poor decisions. Better question is "Why CEO turnover is higher than usual"
If ever there was a video that popped up on my feed that I could not care less about the subject of the video... this is it. CEOs and their golden parachutes are real nice when you talk about all the low level layoffs occurring this month.
The supreme Court ruled that "a publicly traded companies primary responsibility is to it's shareholders" Effectively making it illegal for stock to go down or stay stagnant in pursuit of sustainability, increasing worker pay, safety conditions etc.
This is a way to say “we can’t handle or know to fix” lack of ideas from the top levels is a sickness. They should be more responsible for what they are receiving in compensations, they are stealing from workers then quitting. Even the ones staying should not have 400x compensation
This is really concerning I am wondering how they're going to pay for the five children's private school education and their Yachts along with their Porsche and Ferrari
Anytime there is economic hardship we blame the top officials in business and government, while they are part of the equation, I believe their impact is overstated.
They are sacking Male CEO and hiring women CEO. Then more people are quitting the workforce as the WOKE, MeeToo, Feminism, LGBT+, Gender politics, 'Believe all women' and a long lost of cultural BS taking over. The least amount of core staff, automation and AI is becoming more attractive to aspiring entrepreneurs.
poor CEOs! what can they do after earning those millions and millions while their employees work for peanuts now that they sleep on money and have no "job"?
I would quit too. Quarter over quarter profit is running out of steam most companies run at high efficiency all thats left to do is lay off staff to reduce payroll. Ceo only gets bonus money when the comapny makes profit but they just played the last hand to play. The game is over after the lay off card gets played.
Mary Barra is one of the highest paid ceos at 30 million. She has 167,000 employees. If we paid her zero dollars. We could give each employee 180 dollars. This is why we don't just hire anyone to run companies. 99% of you are useless. You struggle at basic math.
Why the heck are the regular employee's not getting a major cut of the $16.7M that the CEO's get paid? This is insane. No person deserves to be paid more than $1M a year nor less than $50K. Level the playing field for god sakes.
Individual employees don't have enough bargaining power. Collectively, employees have more power and can demand better wages/benefits. That's what Unions are for.
The CEO position is the only positions I know of that will hand you a year's salary when they fire you. Let the average worker at one of these warehouse, hospitality, or food service jobs get fired tomorrow, their job ain't handing them a $20,000-$30,000 paycheck. And you can be fired for some pretty insidious reasons, such as needing "too much" time off work to recoup from a horrible illness you contracted due in part to being overworked. But would that employer, having made thousands to millions of dollars off of your labor, hand you a severance package involving you getting a year's worth of pay on the end of your employment? Nope! And they'll have every reason in the world why they feel you don't deserve it. But let you be a disgrace CEO who got fired because of some serious business, or even personal matters that you committed to other individuals or to the company while you were there, and they will still pay you upwards of 14 million for you to be fired. I wish somebody would have me 14 million dollars to get fired. But these companies and powers that be, of course, don't see anything wrong with that.
I think we're ignoring the reason why CEO's are leaving: poor corporate performance at many companies who try to get higher Environmental, Social and Governance (ESG) and Diversity, Equity and Inclusion (DEI) scores as demanded by investment companies like BlackRock, Vanguard, State Street, Fidelity, and so on. In fact, the dire situation in the entertainment industry with their failed ESG/DEI initiatives could drive both David Zaslav (Warner Bros. Discovery) and Robert Iger (Disney) out of their current CEO positions.
All these people saying that CEO's are getting fired and companies are spinning it as if they're stepping down. Last time I checked you dont get money when you're fired😂
The CEO’s leveraged their companies during COVID and now the roosters coming home to Roost. They can now point the finger at the CEO and say we did something about it, he’s gone, we have new leadership now.
CEO turnover is so high because a big recession is about to hit and it’s convenient for new CEO’s to “blame” the outgoing leadership for the company’s current position to both investors and employees as they are fired. Outgoing CEO’s are given a large pay package and/or given enough time to find a new role before this messaging hits. It’s called “taking a bath” and is a common, well documented phenomenon in publicly traded company’s stock prices around CEO changes.
not quitting on their own actually More to like they were forced to resign voluntarily rather than being fired. Expectation are high for them to turn over companies to profitabilty bcause now companies always incurred lossess because of bad economic situation. But most of them actually failed. Some do actually worked their assess for the company but most CEOs nowadays is nothing more than a liability and yet being paid very high salary and benefits.
CEO pay is high because if it weren’t, what is the incentive to make multi billion dollar decisions for the benefit of the company instead of themselves?
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they aren't quitting. they're being fired. most ceo's that were fired pretended to resign. it's common policy to let top officials resign in disgrace than to be fired.
Lol this is exactly it. I am in HR and we “retired” a lot of people but it’s not from their own choice. It’s typically the stockholders or owners of companies.
yeah look at Open AI CEO. Once news came out that he was fired, it created a huge storm. It would've been different if he "resigned"
@Scarsofevil dont trust companies. Even a lot of employees that say they are leaving, a lot of them are involuntary terminations. They sign an NDA so they cant slander the company or else HR will hold their severance. So happens all the way to the top.
@@adammorra3813❤❤❤1😂
Agree! In my company HR let higher management to retire than fire. After few days of retiring they update LinkedIn with new job😀
I am in HR. The company I work for, the CEO was forced out. But of course, it was communicated the CEO has retired/left for “other opportunities”/etc. The reality is most of these CEO’s are fired.
I was just thinking this, are they counting the "Stepped Down's" too? bc we all know, that person got the Boot LOL
Very similar to why we just watched the unemployment rate "fall" from 3.9% to 3.7% even though hundreds of thousands of upper middle-class earners (making $70k-$120k) are losing their jobs. Those same people are picking up multiple jobs to try to make ends meet. 2024-2025 is going to be worse than 2008, and not a single piece of math says otherwise.
@@enthused7591 the number of
Math can predict the future? Shame we didn't use that in 2019, or 2015.@@enthused7591
If share holders / board members aren’t happy …it’s that simple. Bye.
No, they're jumping off ship before the ship capsizes. If you have massive resignations from employees, as well as job cuts, then it only follows that the company is not doing well. And, if you are the CEO, then your given a bad hand, so before it sinks they take whatever they can and run. I've seen this personally from the company I left.
Yup. They see the end of the gravy train and are bailing.
in my opinion they are not quitting fast enough and big enough numbers...useless CEOs, CTOs and other overpaid incompetent idiots with overinflated egos are everywhere in the largest companies in S&P 500 & FTS 100
True that!
There is no need to be greedy there is enough wealth in the company for everyone to be paid well
😂 true. Used to work for a german company where the cfo's salary is equal to one department with 15 people's salary.
5:48 "Employees have a unique connection to their CEO" No, no they don't. Not in a Fortune 500 or arguably 1000 company. The CEO on paper, leads organizations to carry out the strategy and create value (should*); the board of directors provides direction and oversight to protect shareholders (Make money for shareholders) and broader stakeholder interests (anyone else who invests and makes money off the company). The CEO may take credit for strategy and "leadership", but that only works when the profits are coming in and are up. As others have mentioned, once the money stops flowing, or there is a reputation hit to the company and there is a need for a scapegoat, the CEO is often fired (resigns/retires). The game seems to be to get the large salary and get the resume buffed up for the next position in the "C" suite. It is an outdated and often superfluous position. If the CEO was that critical, once that person left, the company would cease to function.
Thank you for saying this and to add a quick note. The bigger the company, the more this comment comes into play!
Who feels sorry for them
Perhaps they're quitting bc they've taken all they may take from stock/company
I do. Any productive person will.
This is exactly it. They have no more money left on the table so they leave.
If you feel that way, you feel like companies are being robbed, and that companies in America are currently victims, and not insanely profitable. This is what I hate so much about ignorant Americans. You can't even be consistent. You think the company is being plundered, and think the company is making record profits. Which is it? They're literally opposite opinions. Even more stupid, rich people own the stock of the company, so you're suggesting that CEOs are robbing rich people, and getting away with it. You literally don't understand the hierarchy of America. Ceos are not the rich... They work for the rich. Just because Elon Musk is a rich CEO doesn't mean that the average CEO is wealthy, relative to actual rich people(Jesus my numbers are distorted now). It's insane, the info is literally public, and Americans still don't know where rich people keep their money. I've seen people play games poorly, but this really is beyond mind boggling.
Sometimes, or they're quitting so they can't be fired. Getting fired looks bad, *especially* if you're at the top of the ladder.
But I though the WeiJaina do it too right? Give the Jobs to them... *Representation*
Fun fact. Ceo's in the 80s made 20 percent more than their employees on avg. A new reports shows now they make 200 percent more than their employees on avg. Smh
So what? If we took mary Barra pay of 30 million, which is high, and divide it among her 167k workers. We can pay each worker an additional $180. The reason they focus on CEO pay is so that you guys won't be able to focus on the real issues in America. Absolutely nothing will change for you if we pay CEOs nothing and give it to all the workers. It's a less than 0.5% pay rise for Americans.
Percent? You mean times? 200% = 3x as much.
How to be a CEO: Create an initiative with a fancy new name, like "artificial inferential paradigm." Take every management trend and deploy it under the initiative. Every success you attribute to the initiative, and every failure you attribute to your predecessor or anomalous events. Release a balance sheet that attributes all of the black ink to your initiative, and all the red ink to one-off charges. Done!
How to be a CEO: Hire the absolute best people you can find and help them communicate a vision to everyone else and then keep the problems out of their way so they can do their jobs. Just hire people smarter and better than you in every way and you'll be successful at any leadership role.
@@MrApw2011 But how do you promote yourself and get better and better paying jobs if you're not taking credit for other people's ideas and work? CEO's are not really there to lead, because leaders make mistakes and have to be responsible and take responsibility, and CEOs are supposed to be infallible and deliver quarter after quarter of increased earnings. CEO's are there to deliver buzz and excitement and be the mysterious secret weapon, so that when they inevitably fall short of expectations, they take their golden parachute and another magical CEO takes his or her place. The cult of personality surrounding the C-suite is as much the fault of investors as management.
Then you do it and make money. Since it's so easy.
Thanks. I’ll try it.
You forgot the last and most important step
Collect 400 times the annual pay of your average worker
It's hard for me to feel sorry for a company hiring a new CEO for millions a year and calling it a "difficult" time. CEO's don't NEED to make that much money.
I hear you, but for publicly traded companies the expectations of the job drive the salary. Profitability and Shareholder returns matter the most. If a ceo isn’t delivering, they quickly find a replacement.
@@objective_evaluation and what are those "expectations"? milk money of employees? wow, I could do that for half of the CEO salary and excel..
@@fzakrzewski You should be a CEO and make a change.
@@fzakrzewski when the stock and profits drop, the ceo is the 1st on the chopping block. lol, but what’s your solution for a free market? Cap ceo salary? The moment we cap ceo and executive salaries, companies will no longer be incentivized to grow their market cap. If market caps fall, the stock market will fail. Money will flow into new investment vehicles like real estate which will dramatically increase the cost of housing. Stop being naive and blaming CEO’s.
@@objective_evaluationbit of a slippery slope there pal
I'm sorry but American Wages for nearly everyone have been stagnant for decades meanwhile CEO's have been seeing steady raises that whole time? I can't imagine where all the money went or why I can't pay my bills anymore. LET THEM QUIT! When they come crawling back, pay them less than half what they've been making and distribute the rest to the workers!
They've used stock buybacks to inflate stock prices & benefit the major shareholders. More money to less people. The entire C suite is in on the game.
A ceo makes 30 million(this is high, and not normal). They have a million workers. We cut their pay in half. 15 million. Each worker gets 15 dollars.
Are you happy? This is the problem with americans, you guys don't understand anything about the businesses you're talking about and have never looked at the numbers. You're just a mad someone else is making money. Even if all CEOs in America made $0, that would increase worker pay by less than $100.
@@misterfunnybonesstock BuyBacks don't magically inflate anything. You're increasing ownership in the company.... through stock buybacks, warren Buffett has gone from a 10 ownership to a 15% ownership and a company(not the exact numbers obviously). You don't think that owning more of a company increases its value? That isn't more money to less people either, because you own the stocks through your retirement funds. God, I hate this so much. Just stop taking companies public and letting normal people get any benefit imo. Keep this all private, in the hands of the rich, where we don't have to give you ANY INFO. then your 401k can just invest in 3% yielding government bonds, and leave the investing in corporations to the rich, since you don't like owning these terribly run companies anyway.
Most of their pay comes from bonuses and stock options which are tied to stock market prices.
It's a new Gilded Age..
they aren’t resigning. they are cashing out.
They've bolstered their retirement portfolio with years of stock buybacks & it's time to cash out & spend some time in their multiple homes & the yacht.
I want to be a CEO for just one year if I'm getting paid millions then I'd quit and retire. These CEOs make more in a year than what regular workers make in their lifetime.
Then do it. Start a company. No one is stopping you from riding the corporate ladder either. Lots of people I know have made millions working at these companies at levels far below ceo. Lol. You do realize some companies pay engineers more than ceos? Some traders have made more than ceos? Ceo pay has to be reported. If Apple pays an engineer 30 million a year, that doesn't have to be reported. In fact, a lot of engineers make 7 figures, to do basically nothing. Just so they don't leave and start competing companies. Same with investment bankers, traders, hell, I seen people pull 9 figure paychecks lol. Hell, come to mention in, in my industry, in slightly adjacent fields, you can make a million dollar bonus, at entry level.
@@Tential1no one cares to hear you BS George. Fkn know it all. Someone surrounded by wealth and success also so full of knowledge yet here you are bashing people for making a simple comment on youtube. Fk I could have a great life with 16 million too. That was his point.
@@Tential1 These CEOs that are quiting didn't start these companies lol.
Same here.
Sounds like the high cost of replacing a CEO is a systemic problem, where the people at the top are being paid way too much.
Perhaps if the people at the top weren't paid many times more than the average worker this problem would be resolved.
Sounds like a them problem.
Apparently, AI CEOs are doing quite well
If a ceo was paid 0, the average company could raise employee pay by $100 per employee. Probably less. Ceo pay has nothing to do with average worker pay. Workers work for the company. The CEO works for the boss the shareholders. As a shareholder, I'm happy to sign off on a 50 million a year ceo, and I voted for it. I am happy to pay Jamie Dimon whatever he wants. Because that's my decision, and I want the comfort of Jamie Dimon NOT LEAVING. I don't care how much you make as a bank teller. You're replaceable. As a shareholder, I don't care you make 1/10,000 of what Jamie Dimon makes. Because I'm not firing you if things go wrong. I can only fire him. So when Jamie Dimon grows my wealth 13% a year, and he wants a little off the top? I don't care. Because if I pay him 0, it won't increase my 13% a year return by a meaningful amount, but if I lose Jamie Dimon, and I get an idiot, I could literally lose my whole investment. That's why we pay ceos.
I am by no means defending their salaries.
But someone needs to be the face of the company and steer them in a direction to turn a profit. So investors are happy and workers keep their jobs.
The amount of people actually qualified to run a company, competently, is a very small number. Investors and board members will gladly pay one of the few qualified individuals to run their company to avoid getting someone unqualified.
Though it’s brash, I think the comment above mine explains this the most honestly.
Around age 45 I lost interest in the BS working in an office and the stupidness I encountered daily.
10 years later I never looked back. Worked alot of different jobs since then. Give me $15 a hour and some friendly people to work with.... This isn't hard and makes me happier !
I knew it was time to leave the office environment when I thought to myself "If I hear one more acronym I'm peeing on someone's feet" !
Right. And look what these Globalists had done just to use humans as Guinea pigs to advance the medicine. Thank God justice was served accordingly
I thought I was the only one.
Peeing on someone else's feet. That's new.
They are jumping off the train before the train wreck. They don't want to be in charge when things blow up.
Maybe the companies will realize they dont have to pay a CEO that much and promoting internally will probably work out better
Normalize cooperatives👏🏼
@@robierpeople act like CEOs pay themselves, shareholders approve CEO pay and all of you own shares. If you have a retirement fund, you approved ceo pay. I don't understand why people don't get this.
@robier When a CEO is promoted internally, is it purely from a position meant to groom for a future CEO? Usually the do have a history in a market segment but not necessarily in the company. The pipeline for a CEO of a company shouldn't be a 2 year trial run, followed by a stint draining the company as CEO. It's fun to go through these CEO LinkedIn pages and see how little these people have actually experienced their companies work culture they are supposed to cultivate.
@@Tential1people get it, not hard to understand. It’s the fact that at the same time the board will approve that and fire employees that doesn’t make sense.
Also why does a CEO need to make on average 140-300x what the average worker makes? Or not give out bonuses to high performers but still raise pay for the board/CEO. I understand good CEOs can drive value but it’s the people at the end of the day who do the work. Everyone is fine with high ceo pay just not where it is currently.
Without the CEO, the whole company would crumble! Production will stop, and people will go hungry!
Quick! Let's fork out millions more to keep the CEO from resigning!
Oh no, not the CEOs! 🙄
What should they do with there multi-million dollar bonus given to them for failure…..😂😂😂😂
I’m so heartbroken 💔
If you're a well-run company, I don't understand why it should be so expensive to replace your CEO. Just promote someone internal. If you had a good CEO before they should have been preparing the next batch of executives anyway. Also, why is severance mentioned as a cost if they're quitting/resigning?
I remember when companies defended CEOs and tried to justify paying them extraordinary high compensation packages only to see this video come out. It's hilarious to see how companies are becoming more stupid and only think growing faster and hitting record numbers each quarter is the ideal situation rather than having realistic and sustainable goals. Not that they should ignore investors but given that the environment changed in a dime with higher interest rates in the last couple of years I'm willing to bet investors are flocking to companies that have sustainable balance sheets more now than company trying to grow their way out of debt.
Well said.
@@pageek3487no, it's not well said. This has been the case, FOREVER. You in the general public think ceos have safe jobs. The CEO average tenure has always been 3-5 years. The turnover for ceos has ALWAYS been high. I have a few companies I invest in, where the CEO was pushed out, and the CEO out performed Warren buffet. This idea ceos do nothing and just get paid, and have safe jobs are because normal people DO NOT FOLLOW BUSINESS.
Ceos are being fired for not hitting high rates. Not because they don't have some magical "sustainable growth". Really, this is why Americans deserve to be poor. You don't know anything about corporations, despite all the info being public. How do you play when you refuse to learn? The companies attracting the most attention have the most insane growth rates. "sustainable balancesheet" is buzz words. The same companies are getting the most attention, because they're dominant. Amazon(20-25% top line) , Microsoft(18%+ net income) , Apple(worst of the group, 9% net income), Tesla(30% top line), Nvidia(30% net income growth, this one is straight bonkers), Facebook(18% ish net income, same as Google) and Google. All of those growth rates are straight stupid. That's why we call them the magnificent 7. If any of these companies added more debt they would just get more investment because you don't understand the math of how any of this works. Investors want these companies to add more debt. You have no idea how much debt we use. We aren't afraid of debt. We love debt. Because we don't like dollars. You don't understand the game we're playing.
In the past the difference between salaries of CEO and normal employees were significantly smaller. Also, in the USA the gap is bigger than, let's say in Japan. Economist Ha-Joon Chang gave analysis on this. And no, they don't bring more value than in the past.
but youre still a serf... so who is laughing?
I’ve seen what alot CEOs are and honestly a lot of companies are probably better off without one
If a company has to spend money on finding a new CEO it is a sign of poor succession planning internally to promote within.
Gap between compensation of today's CEO to 1st level worker is mind-boggling. Few years as a CEO, one no longer needs to work for rest of life - so they go off to burn $ off. Everyone will do the same.
Because it's hard to be a CEO, it's not hard to be a level 1 worker.
@@AnimeBeefRandoms Is it harder than what used to be ? Does it become harder by hours that the gap between Level 1 and CEO compensation keeps increasing ?
@@bkk5153 Yes, it's harder to get up there and it's harder to do the job well. Plus it's results-based anyways. A good singer and a bad singer can sing the same song but no one wants to pay to listen to bad singing.
@@bkk5153 yes. Does a bad singer deserve 0 dollars vs a good singer deserve millions. Yes they do
Wow I feel so bad for them 😭 can we start a go fund me for these poor ceo's?
If I had a golden parachute I might resign too.
I think we need to increase average CEO pay further to encourage them to stay on, I think the CEO of my workplace for example only gets around £8 Million a year (around $9 Million), which isn't enough to cover the shaking hands with other CEOs and using buzzwords in interviews 2-3 times a year.
You had me on the first half.
Will someone think of the CEOs 😭
Then start a company yourself since running a company is so easy.
You think starting a company is equivilant to jumping in to a pre made one? Also am I going to get paid £8 million for running a start up? Also your argument is widely used and not very smart, "You can't say a meal out is bad unless your a mitchlin star chef, you can't dislike a movie at the cinema if you arn't a holywood producer" I can keep going but just a silly comment all round. Would have more respect for trying to make the case they earn the paycheck through hard and stressful work which it is but that argument falls apart as CEO pay rates 80 years ago would be equivalent to 1-2 million in todays money and CEOs weren't stupid or bad back then their wages have just grown disproportionately. @@Tential1
@@Tential1you have to be accepted into the club. Otherwise it’s pointless.
Who cares? They gave huge salaries and huge severances. You need to make a video about why we need to not allow CEOs and their rich executive buddies to be paid what they are. People complain everyday about money. You wanna know where the money is? With them. The Fed needs a law where we need to get a maximum/minimum wage ratio installed where a CEO can't make more than 5 times the average worker. No more stock options, just stick salary. I made 100k, CEO makes 500k. That's it. All that money that is freed up, goes to everyone below the CEO and the rich executive buddies. So, this has direct impact on peoples lives again. THIS IS THE MAIN PROBLEM IN TODAY'S LIFE. People just aren't getting paid enough because of what I stated above. Make a story on that.
Yeah that won’t happen. You don’t understand that primary focus of a company and C.E.Os are. It is to maximize profits for shareholders/owners.
better yet , 5x the median wage as the avg wage is disproportionately affected upwards by the top wages
Every single one is leaving with a golden parachute or huge stack of savings that they can personally ride out what is coming over the next 3 years.
After they squeeze a company for all their worth and get their parachute they quit. Wash rince repeat.
Pretty much
@@naturegirl2110OK, so if they squeeze companies for all they're worth and quit, how are companies profitable? How are they making record profits each year? These are literally opposing ideas. You're probably really good at nature. Don't get me wrong, put me in the wilderness with you, I'm dying. But when it comes to business, you clearly don't understand this. I get it, everyone says this idiocy, but maybe think about it for a second. If companies are being squeezed for all they're worth by the CEO, then why do rich people own 90% of the stock market, which is ownership of those companies? How can the CEO, rob people who own the company, who are also rich? Those many rich people would have one easy target to get rid of.... To be honest though, in my opinion, if people are just gonna blindly regurgitate things that have obvious logical fallacies, they deserve to lose the game of wealth.
@Tential1 I think a may have a fairly good understanding of how money works. How do they make record profits? Here's one way. Fire employees while cutting the hours of current employees. 1 employee is forced to do the job of 3 to 4 people with said reduced hours. While products sold by said company prices are raised. What's the result? Record profits. Higher prices plus reduced staffing costs = those profits you were talking about. Plus, with reduced staffing, the other costs are reduced as well, like electricity, water used by staff, equipment like computers, etc.
Won't someone please think of the poor CEOs :(
They already made their retirement after capping out at the top of the last round of stock market hikes. They made their own golden parachute.
On the other hand, some companies very dependent on manual labour struggled during the pandemic and are atill in a long-term recovery to re-achieve stable positive revenue.
Maybe they will get a job flipping burgers.
Assuming they didn't automate those jobs to increase stock prices.
They’re not quitting. They’re getting early retirement. These CEO’s get bonuses yearly that are more than you will make in your entire career.
CEOs are WAY overpaid. Their pay should be tied to the companies overall profit. The higher the position within a company the closer to the companies overall profit their salary should be.
So Bezos and basically everyone at Amazon should have been paid 0$ dollars in your opinion.
@@nerios.v on the contrary. Because Amazon is making a profit, Bezos would be making his income too. But any company like Coors Light, Walt Disney, Target, Star Bucks, etc. Who is losing money, their senior executives should not be getting the high salaries. Their salaries and bonuses should be cut as well.
Understand the statement made. None said anything about the staff. It was only for the CEO and senior execs who have these big incomes and bonuses when companies are not doing well.
Like CEOs are actually needed. Companies run just fine without them meddling in existing processes and making clueless decisions.
What you said 🎤
In my country there is a law, with a tax ruling, which states that CEOs, who get generous bonuses, will have to pay these back if (years) later the CEO took business decisions which were or came out to be bad for the company, the environment, the employees, the tax system or human rights. The reclaiming of bonuses doesn’t have a statute of limitations. And severance packages, payments or golden handshakes when a CEO leaves are included in this ruling, and have a maximum of 1 year salary, performance bonuses have a maximum of 20% of their annual salary. Bonuses are excluded when the CEO leaves voluntarily or on his own behalf, when the CEO did a bad job, underperformed or failed his task. This forces them to take good informed decisions, taking all angles in mind. If a company doesn’t obey this tax ruling, the bonuses will have a tax rate of 100%, without deductions. It works just fine.
What country? Nordic?
I bet that country has no innovative companies and instead relies on oil or some other natural resource, a country with no contribution to the progress of humanity
CEO gets paid millions/billions of dollars. Why do they quit? They are neither fired nor getting a better job.
Lol, CEOs dont get paid billions.
@@objective_evaluation Elon Musk got 23 B in 2021. Hello?
@x-men69-96 ok short bus...he OWNs the company, same and Zuckerberg and Bezos. They are the anomalies. 99.999% of ceos dont get paid billions
It’s all about the stock market! The investors are the real bosses and they are responsible for firing CEO’s
Easiest way to get the huge payouts. No joke. Look it up, it's the easiest way to make money. ONE, become a CEO. TWO, fire a bunch of people. THREE, pay yourself and some cronies "bonuses"... and bail. *That's the system*. Accept it, and don't shoot the messenger.
Please... what a joke. Most are hired at already pre-established companies.
They get to come in and basically gamble 🎰 with investors money 💰 while making millions in the process.
They basically win 🏆 regardless of how well a company does.
We can do better people! Enough of these top down antiquated hierarchies where a handful rule over the many.
😶
Hilarious! When it was individual contributors quitting to trade up to higher salaries during the Great Resignation, these guys bellyached "Nobody wants to work anymore." But now the shoe is on the other pink slip, and boards are increasingly impatient with leaders that don't deliver Nvidia-esque returns and the top jobs is starting to feel like, you know, a job. Good time to strap on the golden parachute, fly the corporate jet over your Aspen chalet, and "spend more time with your family" (oh, and join a few of your friends' boards to rake in options for a few days of meetings a year).
After all the sacrifices CEOs haven given to a company, it must be heartbreaking for them to resign
🤣🤣🤣
I’d quit too if I got paid MILLIONS a year! Companies should try hiring ACTUAL lower level employees as CEOS they’re the ones that actually know the jobs and DO the work!
I would leave the sinking ship too after i took everything i needed😂😂😂
Employees should vote for CEOs from an internal pool. Not saying it'll work but it would be a nice experiment.
Most ceos are internal... So what? Most of you are just saying things, and NEVER follow the business world, because what you're saying actually already happens, or doesn't happen for insanely Obvious reasons, if you actually cared to look into it.
Too much pay, for too many titles CEO, CFO, COO, CTO. Plus hiring people that sometimes have no experience in those industries.
CEOs are the modern day equivalent of a Feudal Lord. I don't know why we think democracy is so important in modern times if we support this arrangement of a corporate Lord. The CEO gets to lay off massive numbers of workers as soon as they move in, just because they want to move in their own people. How are we ok with this arrangement? I'm not. I've seen it first hand, two times. A narcissistic CEO upending hundreds of people's lives, just to hire the same number of people from past companies they worked at. But of course, it was really due to "difficult financial times".
Start your own company then if you don't like it
I work for a very large mortgage company. Headline said they were retiring. Nope, he was forced out. A bunch of EVP’s were not far behind him.
Geez, nobody wants to work anymore.
I'll tell you why. They've been paid too much up front!
You'd quit too if you got paid before accomplishing anything.
I don't care that they're getting paid this much but, I do agree that the way they are being paid is stupid, and I do not like paying them up front. I like paying for stock return, which is why I liked Elon musk's compensation package because it meant that he had to 10x the stock value before he got paid. Sadly, he didn't way faster than I thought he would so I never got to buy as much stock as I wanted to. I didn't think he'd do it I under 2 years...
With financialization of even non-financial sector companies, the company may have brought forward much of its estimated future earnings into tradable assets which can be sold today. Perhaps CEOs are realizing today is the optimum time to cash out as financialization has made it near impossible to enable their companies to actually reach the estimated performance levels.
CEOs and the executives are simply overhead. The floor level employees are the ones who make or break a company. Things I want to see from my CEO, clear communication regarding company locations, position, goal and performance. I want to see investments and improvements in my operations. I want to know how we stackup against the competition.
CEO’s are just overpaid. Why work after a few hundred million. You can relax and enjoy all that money you got from firing everyone else.
So it doesnt involve executives continually marketing themselves to other businesses, and trying to get that bigger paycheck or office or benefit. While businesses are left with their poor decisions. Better question is "Why CEO turnover is higher than usual"
Good CEOs don’t quit. None of the companies mentioned at the start had good leadership.
If they quit maybe the companies will survive now. Most of them drive it into the ground.
Maybe it's more because businesses are failing and there are many frustrated employees than the CEO choosing to resign.
If ever there was a video that popped up on my feed that I could not care less about the subject of the video... this is it. CEOs and their golden parachutes are real nice when you talk about all the low level layoffs occurring this month.
Because it looks better to resign than to get fired.
The supreme Court ruled that "a publicly traded companies primary responsibility is to it's shareholders"
Effectively making it illegal for stock to go down or stay stagnant in pursuit of sustainability, increasing worker pay, safety conditions etc.
This is a way to say “we can’t handle or know to fix” lack of ideas from the top levels is a sickness. They should be more responsible for what they are receiving in compensations, they are stealing from workers then quitting. Even the ones staying should not have 400x compensation
This is really concerning I am wondering how they're going to pay for the five children's private school education and their Yachts along with their Porsche and Ferrari
Direct reports to CEO's are referred to as "scapegoats". Employee's are referred to as "fungible". Asked what the firms "cost of capital is? " is ??.
Anytime there is economic hardship we blame the top officials in business and government, while they are part of the equation, I believe their impact is overstated.
The flip side is also true. Anytime things go well top officials get/take the credit.
CEO stepping down means Underperformance and they're in Negative Zone.
Thanks, I’ll become CEO now :)
A.I. will take over most of those positions
All it shows is that the shareholders have become so greedy that even CEO’s are not safe anymore.
They already made millions. 😂
Id retire already if made a million bucks this year 😂
They're quitting so they can keep all the money they ripped off the company they were supposed to run .
CEO pay is decided by the board which reflects shareholder objectives. If the firm results are not in line with objectives then they are fired.
they did a bad job and now they’re going out with the bags like good luck to whoever after me
And nothing of value was lost
They are sacking Male CEO and hiring women CEO.
Then more people are quitting the workforce as the WOKE, MeeToo, Feminism, LGBT+, Gender politics, 'Believe all women' and a long lost of cultural BS taking over.
The least amount of core staff, automation and AI is becoming more attractive to aspiring entrepreneurs.
poor CEOs! what can they do after earning those millions and millions while their employees work for peanuts now that they sleep on money and have no "job"?
If I were a CEO making several million dollars a year, I would retire myself in one year.
I would quit too. Quarter over quarter profit is running out of steam most companies run at high efficiency all thats left to do is lay off staff to reduce payroll. Ceo only gets bonus money when the comapny makes profit but they just played the last hand to play. The game is over after the lay off card gets played.
Writing is on the wall. This is the top. Time to glide away to safety and let the little man figure it out. #Hero
The new CEO's come out of school with an MBA and zero experience.
Because the board today's are becoming more and more unbearable. I mean They always are, but during the IT startup era ...the pressure is immense.
Most companies don’t need a CEO that gets paid 100’s of millions anyways! 😂 Imagine how high they could pay their workers now with that extra $$!! 🎉
Mary Barra is one of the highest paid ceos at 30 million. She has 167,000 employees. If we paid her zero dollars. We could give each employee 180 dollars.
This is why we don't just hire anyone to run companies. 99% of you are useless. You struggle at basic math.
That's funny. You think investors care about the workers.
One 16 million dollar CEO is worth 200 employees that make 80k salary per year.
One CEO quits another one gets a chance. More opportunities
We don’t need to give new ceos more opportunities to exploit and abuse the working class. Normalize cooperatives.
Why the heck are the regular employee's not getting a major cut of the $16.7M that the CEO's get paid? This is insane. No person deserves to be paid more than $1M a year nor less than $50K. Level the playing field for god sakes.
Individual employees don't have enough bargaining power. Collectively, employees have more power and can demand better wages/benefits. That's what Unions are for.
The CEO position is the only positions I know of that will hand you a year's salary when they fire you. Let the average worker at one of these warehouse, hospitality, or food service jobs get fired tomorrow, their job ain't handing them a $20,000-$30,000 paycheck. And you can be fired for some pretty insidious reasons, such as needing "too much" time off work to recoup from a horrible illness you contracted due in part to being overworked. But would that employer, having made thousands to millions of dollars off of your labor, hand you a severance package involving you getting a year's worth of pay on the end of your employment?
Nope! And they'll have every reason in the world why they feel you don't deserve it. But let you be a disgrace CEO who got fired because of some serious business, or even personal matters that you committed to other individuals or to the company while you were there, and they will still pay you upwards of 14 million for you to be fired. I wish somebody would have me 14 million dollars to get fired. But these companies and powers that be, of course, don't see anything wrong with that.
Most of the companies don't even need them.
They are way overpaid.
They have been paid so much money there is no longer any incentive to work....
I think we're ignoring the reason why CEO's are leaving: poor corporate performance at many companies who try to get higher Environmental, Social and Governance (ESG) and Diversity, Equity and Inclusion (DEI) scores as demanded by investment companies like BlackRock, Vanguard, State Street, Fidelity, and so on. In fact, the dire situation in the entertainment industry with their failed ESG/DEI initiatives could drive both David Zaslav (Warner Bros. Discovery) and Robert Iger (Disney) out of their current CEO positions.
Work in healthcare, not even 3yrs in & i’ve had three different CEOs come & go
Normalize radical anarchist and socialist unions, cooperatives and universal basic income👏🏼
All these people saying that CEO's are getting fired and companies are spinning it as if they're stepping down. Last time I checked you dont get money when you're fired😂
yes, you do. It's called severance pay.
CEOs are overpaid anyway.
Staff might drive better company performance if they shared equitably in excessive ceo and c suite salaries
The CEO’s leveraged their companies during COVID and now the roosters coming home to Roost. They can now point the finger at the CEO and say we did something about it, he’s gone, we have new leadership now.
CEO turnover is so high because a big recession is about to hit and it’s convenient for new CEO’s to “blame” the outgoing leadership for the company’s current position to both investors and employees as they are fired. Outgoing CEO’s are given a large pay package and/or given enough time to find a new role before this messaging hits.
It’s called “taking a bath” and is a common, well documented phenomenon in publicly traded company’s stock prices around CEO changes.
Because of corporate greed
not quitting on their own actually More to like they were forced to resign voluntarily rather than being fired. Expectation are high for them to turn over companies to profitabilty bcause now companies always incurred lossess because of bad economic situation. But most of them actually failed. Some do actually worked their assess for the company but most CEOs nowadays is nothing more than a liability and yet being paid very high salary and benefits.
CEO'S don't need to quit. They get paid millions even if they get fired.
CEO pay is high because if it weren’t, what is the incentive to make multi billion dollar decisions for the benefit of the company instead of themselves?