The Amazing, Fleeing Corporate CEOS, What did They Know? By Chris Knight
So, the big boys deserted the sinking ship way before we were rioting over toilet paper:
“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… Chief executives are leaving in record numbers this year, with more than 1,332 stepping aside in the period from January through the end of October, according to new data released on Wednesday. While it’s not unusual to see CEOs fleeing in the middle of a recession, it is noteworthy to see such a rash of executive exits amid robust corporate earnings and record stock market highs. Last month, 172 chief executives left their jobs, according to executive placement firm Challenger, Gray & Christmas. It’s the highest monthly number on record, and the year-to-date total outpaces even the wave of executive exits during the financial crisis. 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.”
Why, if this goes on for years, there will not be a CEO anywhere in sight.
Perhaps these money people have already bugged out to their luxury pandemic shelters, living in post-apocalyptic luxury, waiting for us grunters to die so that they can remake the world? Or maybe they run out of resources, and being soft from over-civilisation, get eaten by wild animals.