Why These CEOs Stepped Down?

Bangalore: 2012, so far, has witnessed a lot of CEOs stepping down from their chair for so many reasons.  Some of them were forced to give up, some were ousted amid scandals, some made up their own decision to leave and some got retired. Some CEOs made up their mind to have a better career, while others have their own personal reasons.

Abundant opportunities prompt people to go for better career options. Meanwhile, stringent regulations, changes in business models, poor market conditions and investors’ apathy towards equities have put tremendous pressure on industry executives to perform. All these have resulted in the recent changeovers.

Here is a list of 10 companies worldwide, the CEOs of which have removed their crowns.  

#1 Research In Motion (RIM):

The Co-CEOs of Blackberry vendor RIM Jim Balsillie and Mike Lazaridis stepped down early in the year 2012. They also gave up their positions as co-chairmen of the company’s board of directors in January.

The changeover had happened in a period when, RIM was having its position in the smartphone market crumble under its major rivals Apple and Google. RIM was put behind by these companies that reshaped the mobile technology landscape. Though RIM had struggled to modernize its operating system and deliver competitive products it couldn’t come up to the customer expectations. That might be the reason why the company wanted a ‘refresh.’

The Chief Operating Officer, Thorsten Heins took over as the new CEO of RIM. Former executive of the Royal Bank of Canada, Barbara Stymiest became the new chairman, while Lazaridis, who originally founded RIM became the vice-chairman of the company. Balsillie retained his position in the board; but without having any lead role.