It’s tough being a retail CEO
As an occasional commenter to RetailWire likes to point out, "Retailing isn’t for sissies." That sentiment is certainly appropriate for those leading retail organizations where CEO exits are on the rise despite an improving economy.
For the first nine months of the year, 38 retail CEOs left their jobs, according to the outplacement firm of Challenger, Gray & Christmas. That compares to 29 during the same period in 2013.
The news this week that Mike Jeffries, longtime leader at Abercrombie & Fitch, had resigned his position is just one of several high profile departures this year. Others, according to a Fortune report, include Bill Simon from Walmart U.S. and Gregg Steinhafel at Target.
Yesterday, Walgreens announced that its CEO, Greg Wasson, would resign his position once shareholders voted on the drugstore giant’s acquisition of the remaining part of Alliance Boots it does not currently own. The vote is schedule for Dec. 29.
- 2014 September CEO Report: 124 Out Including eBay, Oracle – Challenger, Gray & Christmas
- Retail CEO exits on the rise in 2014: 10 notable departures – Fortune
- Walgreens President and CEO Greg Wasson Announces He Will Retire Following Completion of Merger with Alliance Boots – Walgreens
- Controversial CEO leaves Abercrombie & Fitch – RetailWire
Is it tougher being a CEO of large retailer today than it was 10 or 20 years ago? What traits are required to be a successful retail CEO today?