Some big companies and their CEOs parted ways this year

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

This has been seen in companies operating in industries ranging from aerospace and fitness to apparel and technology.

Boeing, Nike, Pluto, Weight Watchers, Nike and Intel are among the companies whose CEOs will leave in 2024.

David Calhoun

Calhoun revealed in March that he had plans to end the role CEO of Boeinga little over four years after he first assumed this position.

In a message to employees at the time, he said: “I have been discussing with our board for some time the timing of a CEO transition at Boeing.” “I want to share with you that I have decided this is my last year as CEO of our great company and I have communicated this decision to the Board of Directors.”

He said Boeing will be “absolutely focused on completing the work we've done together to get our company back on track after the extraordinary challenges of the last five years, with safety and quality at the forefront of everything we do” during the transition.

The company is struggling to recover from headwinds from a pair of 737 MAX 8 crashes several years ago and, most recently, a door panel on a Boeing 737 MAX that detached mid-flight in January.

Boeing named Kelly Ortberg as its new CEO

Kelly Ortberg has been leading the aerospace company since late summer. His first day as CEO was August 8.

Ortberg told analysts and investors during the company's quarterly earnings call in October: “My mission here is very simple, put this great ship on the right track and return Boeing to the leadership position that we all know and want. ” focus

This company has delivered 291 commercial planes and 76 defense, space and security planes in the first three quarters of the year.

Barry McCarthy

Barry McCarthy it stopped Peloton's CEO in May prompted the fitness company to tap Karen Boone and Chris Bruzzo as interim CEOs while it searched for a permanent replacement.

Following a surge in business during the pandemic, Pluto struggled to remain relevant as people returned to traditional gym workouts as social distancing restrictions eased. To combat declining sales, it made various efforts to cut costs and expand its customer base.

Pelton said in October that Peter Stern, a Ford executive, would join the company as CEO starting in January. Bruzzo stepped down as interim CEO in early November, with Boone continuing to run the company.

Pluton is famous for exercise bikes, treadmills and rowing machines.

Sima Sistani

Sistani left WW International in late September, ending his 2.5-year tenure as CEO.

At the same time, WeightWatchers named Tara Comonte as its interim CEO. The company said he takes the job “at a time when the company is focused on improving its operational and financial performance while continuing to innovate its product and solutions for members.”

Sima Sistani, CEO of Weight Watchers, embraced weight loss drugs in a sudden exit

This company has been operating since 1963. It has long offered weight loss and weight management programs and has recently expanded into access to weight loss medications.

At the end of the third quarter, about 3.7 million people subscribed to various WeightWatchers offers.

John Donahue

Nike underwent a CEO change in mid-October, and Donahue retired on October 13. The company said at the time that he “will remain as an advisor to the company to ensure a smooth transition through January 31, 2025.”

“It has become clear that now is the time to make a change in leadership and Elliott (Hill) is the right person,” Donahue said in a statement, adding that he “looks forward to Nike and Elliott's future success.” His tenure as CEO was more than 4.5 years.

the hill He came out of retirement To take over Nike's top job.

During the company's earnings call earlier this month, the new CEO said Nike has “lost its obsession with sports” and will “lead the way in sports, putting the athlete at the center of every decision.”

He also said the athletic footwear and apparel company is “leveraging the deep insights of athletes to accelerate innovation, design, product creation and storytelling” and “Rebuilding a single market” will return, among other things.

Pat Gelsinger

Gelsinger, who became Intel's CEO in February 2021, retired in early December.

“As a leader, Pat helped launch and revitalize the manufacturing process by investing in advanced semiconductor manufacturing,” said Frank Yeary, Independent's president. “While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to become a world-class foundry, we know there is much more to do at this company and we are committed to restoring investor confidence.”

Intel CEO Pat Gelsinger has retired amid a battle with the chipmaker

David Zinzner and Michelle Johnston of Holthouse have been interim CEOs since he stepped down. Intel will Sally said we will continue to “simplify and strengthen our product portfolio and enhance our manufacturing and foundry capabilities while optimizing our operating and capital costs.”

How many CEOs have left companies this year?

A Challenger, Gray & Christmas report released earlier this month found that 1,991 CEOs disclosed plans to leave companies in the 11-month period from January to November.

Last month, there were 167. According to this report.

In this year, more than any other reason, “resignation” has been cited as the driving force behind the departure of CEOs. The report states: “Failure to provide a reason”, retirement, “new opportunity” and resignation were other common reasons.

The use of interim CEOs has increased, with Challenger, Gray and Christmas accounting for 13% of replacements in 2024. In 2023, it was 7 percent.

Daniella Genovese contributed to this report.