We all know what makes a good CEO – a leader that keeps shareholders happy with steady growth, fattening profits, and, for good measure, rising dividends.
The worst CEOs lose their grip on their companies and lose the faith of shareholders, customers, and, in the end, their board of trustees.
That's when they also tend to lose their jobs.
And these days more CEOs are worried about losing their jobs. A survey of 100 chief executives late last year by RHR International revealed rising anxiety: two-thirds (67%) of the CEOs reported that increased stakeholder scrutiny was affecting their perception of job security, up from 45% from the previous year.
So who's next?
We found seven of the worst CEOs who still have their jobs – but won't for much longer.
Worst CEOs – The Not-So-Magnificent Seven
- Joseph Magnacca – RadioShack Corp (NYSE: RSH)
RadioShack's problems started long before Joseph Magnacca became CEO early last year, but unless he comes up with some miracle fixes soon his days are numbered. Last month the New York Stock Exchange warned RadioShack that it would be delisted unless it could get its stock back above $1 a share within six months. (Yesterday RSH was $0.64 in mid-day trading.) Things are so bad that RadioShack needed to borrow money to close 1,100 of its 4,400 company-owned stores – and got turned down for the loan. Magnacca doesn't even need to be fired to lose his job – his company could simply collapse from under him.
And the rest of these CEOs don't have it any better…
About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.