Many retailers and multinational brands have reshuffled their executive committees over the past year. Differences of opinion, poor results, or inappropriate behavior often played a role. Are companies less patient with their top executives? A detailed overview.
Pushed aside
Multinationals, especially those listed on the stock exchange, do not hesitate to take action. At Unilever , Hein Schumacher had to step down after only 18 months due to disappointing results, making way for his CFO Fernando Fernandez, who immediately announced a “clean ship” operation. A similar fate befell Barbara Martin Coppola, who was sidelined at Decathlon and succeeded by Javier López as the new CEO. Weak performance was reason enough for Canadian sportswear chain Lululemon to show its CEO Calvin McDonald the door. At Just Eat Takeaway.com (JET), founder Jitse Groen had to make way for Roberto Gandolfo, a consequence of the takeover by Prosus. There was also a reshuffle at El Corte Inglés: after the sudden departure of CEO Gastón Bottazzini, Santiago Bau was appointed managing director, while elsewhere, other pieces were also moved.
