Why Did Hundreds Of CEOs Resign Just Before The World Started Going Absolutely Crazy?
April 3 2020 | From: StillnessInTheStorm / Various In the months prior to the most ferocious stock market crash in history and the eruption of the biggest public health crisis of our generation, we witnessed the biggest exodus of corporate CEOs that we have ever seen. And as you will see below, corporate insiders also sold off billions of dollars worth of shares in their own companies just before the stock market imploded. In life, timing can be everything, and sometimes people simply get lucky. But it does seem odd that so many among the corporate elite would be so exceedingly “lucky” all at the same time. In this article I am not claiming to know the motivations of any of these individuals, but I am pointing out certain patterns that I believe are worth investigating. One financial publication is using the phrase “the great CEO exodus” to describe the phenomenon that we have been witnessing. It all started last year when chief executives started resigning in numbers unlike anything that we have ever seen before.
The following was published by NBC News last November…
By the end of the year, an all-time record high 1,480 CEOs had left their posts. But to most people it seemed like the good times were still rolling at the end of 2019. Corporate profits were rising and the stock market was setting record high after record high.
Yes, there were lots of signs that the global economy was really slowing down, but most experts were not forecasting an imminent recession. So why did so many chief executives suddenly decide that it was time to move on? The following are just a few of the big name CEOs that chose to step down in 2019… United Airlines – Oscar Munoz Alphabet (Google parent company) – Larry Page Gap – Art Peck McDonald’s – Steve Easterbrook Wells Fargo – Tim Sloan Under Armour – Kevin Plank PG&E – Geisha Williams Kraft Heinz – Bernardo Hees HP – Dion Weisler Bed, Bath & Beyond – Steven Temares Warner Bros. – Kevin Tsujihara Best Buy – Hubert Joly New York Post – Jesse Angelo Colgate-Palmolive – Ian Cook MetLife – Steven Kandarian eBay – Devin Wenig Nike – Mark Parker Of course the mass exodus of chief executives did not end there. In fact, a whopping 219 CEOs stepped down during the month of January 2020 alone. By then, it was starting to become clear that the coronavirus that was ripping through China could potentially become a major global pandemic, and I certainly can understand why many among the corporate elite would choose to abandon ship at that moment. Related: Why Is There a Boom in CEO Resignations? Some of these CEOs have made absolutely absurd salaries for many years, and it is much easier to take the money and run than it is to stick around and steer a major corporation through the most difficult global crisis that any of us have ever experienced. The following are just a few of the well known CEOs that have resigned so far in 2020: Bob Iger, CEO of Disney Ginni Rometty, CEO of IBM Harley-Davidson CEO Matt Levatich T-Mobile’s CEO John Legere LinkedIn CEO Jeff Weiner Mastercard CEO Ajay Banga Keith Block, co-CEO of Salesforce Tidjane Thiam, CEO of Credit Suisse Hulu CEO Randy Freer It is important for me to say that I do not have any special insight into the personal motivations of any of these individuals, and every situation is different. Updates: Real-Time List of High-Level Resignations But I do think that it is quite strange that we have seen such an unprecedented corporate exodus at such a critical moment in our history. Meanwhile, top corporate executives were dumping billions of dollars worth of shares in their own companies just before the market completely cratered. The following comes from the Wall Street Journal.
In the stock market, you only make money if you get out in time, and many among the corporate elite seem to have impeccable timing. Perhaps they just got really lucky. Or perhaps they were reading my articles and understood that COVID-19 was going to cause the global economy to shut down. Related: QAnon Links Resignation Of Google’s Schmidt To Trump’s Executive Order In any event, things worked out really well for those that were able to dump their stocks before it was too late. And it turns out that several members of Congress were also selling stocks just before the market went nuts…
Of course most ordinary Americans were not so “lucky”, and the financial losses for the country as a whole have been absolutely staggering. The good news is that there was a tremendous rally on Wall Street on Tuesday, and that will provide some temporary relief for investors. But the number of confirmed coronavirus cases continues to escalate at an exponential rate all over the globe, and this crisis appears to be a long way from over. Related Articles: Overstock CEO resigns after his ‘deep state’ comments sparked stock selloff Resignations of Business Leaders and CEOs tops 8000 and Climbing Why have more than 1,300 CEOs left their post in the past year? |
Source: http://www.wakeupkiwi.com/news-articles-73.shtml#CEOs
Source: http://tapnewswire.com/2020/04/why-did-hundreds-of-ceos-resign-just-before-the-world-started-going-absolutely-crazy/
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A big tip of what was coming. They seem to know something was coming just like Jorge Boosh seemed to know nothing was wrong when reading books to the children and seemed not alamed at all in that now-famous video.