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It's easy to idolize certain CEOs and admire their drive to innovate. But some have gone way off course.
A CEO is constantly under immense pressure to adjust to society’s demands, eliminate competitors and generate massive profits. The best CEOs demonstrate strong values from the start, allowing for consistent leadership, dynamism and long-term growth. However, not all CEOs can manage the countless hours, criticism or ethical issues with grace.
CEOs of some of the world’s most famous companies are now considered among the worst CEOs of all time. Corner-cutting, a toxic work culture and arrogance can lead to a lack of business transparency and a blatant disregard for regulatory procedures, the consequences of which can be costly. Some well-known leaders have managed to survive their scandals, while others have found their careers in tatters. Keep reading to find out who the most hated CEOs are — and what you can learn from them.
Jorge Titinger, founder and CEO of Titinger Consulting, has seen firsthand how leadership decisions — both good and bad — can have a profound impact on organizations and an executive’s reputation. “Some of the most infamous CEOs offer cautionary tales that aspiring leaders should study closely, not just for what they did wrong, but for what they failed to recognize in themselves,” Titinger noted.
With that in mind, here’s a look at 10 once-revered CEOs who enjoyed immense popularity and success — until they didn’t. See how they fell off their pedestals and which ones survived the rough landings.
From Google Ads to Google Wallet, Google’s services have become indispensable to businesses and consumers. Google and its parent company, Alphabet, are determined to move beyond search engines and extend their reach into nearly every aspect of daily life. There’s no doubt that Larry Page — who co-founded Google, served as its CEO for years, and led Alphabet until 2019 — deserves much of the credit. But at what cost?
Although Google is often praised as one of the most employee-friendly companies in the industry, it’s hard to fight your own nature. Those who worked closely with Page have described him as withdrawn, sometimes to the point of rudeness. During important meetings, he was reportedly disengaged and unresponsive. Some described him as “kind of a jerk” and, more bluntly, “an egomaniacal asshole.”
While Page was respected among his subordinates, many felt he preferred as little human contact as possible. Today, he remains on Alphabet’s board of directors and is a member of its executive committee, suggesting he still retains a fair amount of influence, even if his personality isn’t quite as lighthearted as a Google Doodle.
When it comes to being respected and popular with the “troops,” for a long time, it was hard to beat Lloyd Blankfein, who’s been the senior chairman at Goldman Sachs since 2019 and previously served as CEO, COO and president. At one point in his tenure, he had a 97 percent approval rating, which says something about his leadership style.
How can a man so beloved by his underlings have a dark side? Consider the following:
Blankfein has weathered several other scandals during his tenure, which raises the question of whether his image can ever be entirely tarnished.
Improving employee engagement is crucial in business because unhappy workers are typically less productive. And where there’s a disgruntled employee, you can bet there’s a lousy boss not far off. Such was the case with Carly Fiorina.
Fiorina was brought on as CEO of Hewlett-Packard (HP) in 1999, becoming the first female head of a Fortune 100 company in the process. For a while, it seemed she would be a good fit. In reality, her tenure was plagued with problems from day one, and they only seemed to accumulate as time went on. Consider the following:
Still, her stint as HP’s CEO wasn’t a total failure: When she was forced to resign in 2005, the company’s stock jumped 6.9 percent. It seems that getting fired was the best thing Fiorina could have done for HP. As for her career, well, that’s been considerably damaged due in part to her failed attempts to move into politics.
“You can be unethical and still be legal; that’s the way I live my life.”
This eyebrow-raising statement is allegedly a remark made by Facebook’s Mark Zuckerberg, according to a former Harvard classmate. While its authenticity hasn’t been proven, it might give you a glimpse into how the founder of the world’s most popular social media site views the concept of morality.
Now, it’s no secret that Zuckerberg has a dark side. After all, Aaron Sorkin made a movie, The Social Network, based on the premise that Zuckerberg straight-up stole the idea of Facebook from several of his friends. But business is often a dog-eat-dog world, right? Maybe, but some serious allegations regarding Zuckerberg’s behavior have emerged over the years:
Petitions for Zuckerberg to resign seem to crop up almost every year, and his own employees have staged virtual protests against the company. Whistleblower Frances Haugen even said in June 2022 that Facebook can’t repair its reputation until Zuckerberg steps down, which he seems to have no intention of doing. [Read related article: Best Facebook Marketing Strategies]
Elon Musk has attained celebrity status with his boasts of science fiction successes and seductive forward-thinking image. Unfortunately, the man that car enthusiasts put on a pedestal often gets in the way of his own achievements, which include varying degrees of success with Tesla, SpaceX and X (formerly Twitter).
Instead of being famous and admired for his game-changing innovations, Musk is most closely associated with questionable behavior. Consider the following events:
Musk’s complicated personal life, arrogant public persona, and suspect labor practices, among other factors, continue to make him a controversial public figure and businessperson. Even though he stepped down as CEO of X in 2023, he continues to wreak havoc (see below).
Linda Yaccarino was the chairman of NBCUniversal’s global advertising and partnerships before being tapped to succeed Elon Musk as CEO of X. Over 11 years with NBCUniversal, she unified the company’s disparate global networks, business units and properties through strategic and operational initiatives. Yaccarino is credited with generating over $100 billion in advertising sales. So, it’s no wonder she caught the eye of Musk, who was looking to step down as CEO and find “someone foolish enough to take the job.”
This public comment from Musk perhaps should have been a warning sign for Yaccarino. Although Musk ostensibly stepped down as CEO of X and handed the reins to Yaccarino in May 2023, his toxic and chaotic presence has continued to ensnare the company in controversy and internal discontent. Consider the following:
First and foremost, the CEO position is a leadership position, and the person who holds it must act as a leader. This is where Yaccarino encountered trouble. She’s presented only a muted lack of response to controversies or weak justifications for Musk’s outrageous behavior. In retrospect, it appears she was installed at X to be a figurehead, while the real power remained with Elon Musk. As controversy continues to swirl around X, Yaccarino’s future at the company remains uncertain.
Whatever your career or industry, soft skills can make or break you. Travis Kalanick lacked a significant one: self-awareness. Self-delusion can cause you to make bad business decisions, take relationships for granted and fail to drive growth and profits. Kalanick was driven by ruthless competitiveness, wasted money and fostered a “bro culture” that favored toxic masculinity and bullying. His missteps included the following:
Kalanick’s stature was further diminished by the 2022 Showtime series Super Pumped, which brutally depicted his rise and fall. It’s telling that the show’s second season will center on Zuckerberg and Facebook.
Overconfidence can often lead to failure. Adam Neumann is a prime example. As CEO of WeWork, he was so confident in his skills that he once declared that his descendants would run the company 300 years from now. To his credit, Neumann was a charismatic fundraiser. He scaled quickly with an indulgent mixture of more than $12 billion in venture capital and debt.
Working nonstop, Neumann added 12,500 employees and half a million users in 111 cities and 29 countries in less than a decade. By 2018, however, the company had lost $2 billion. However, because WeWork’s valuation continued to rise, Neumann didn’t rein in expenses. Instead, he purchased a $60 million private jet, spent $90 million on six homes, and employed numerous nannies, chefs and personal assistants. Investors saw the lavish lifestyle and bought in.
However, it wasn’t long before Neumann’s over-the-top lifestyle caught up with him. With the company bleeding money before going public and accusations of wildly inappropriate workplace behavior, the executive faced growing pressure to give up his post. Amid allegations of questionable business practices, including self-dealing and using the company to unethically benefit himself, Neumann resigned from WeWork in 2019.
Similar to Kalanick and Super Pumped, Neumann was unflatteringly portrayed in the Apple TV+ series WeCrashed in 2022. Together, the programs serve as a warning to CEOs: Never get too big for your britches.
Sam Bankman-Fried was the celebrated CEO and founder of the FTX cryptocurrency exchange and one of the wealthiest people in the cryptocurrency space until his downfall. He launched FTX in 2019 and grew it into one of the biggest platforms for trading crypto derivatives. By early 2022, the company was valued at $40 billion.
However, in November 2022, FTX filed for bankruptcy after a CoinDesk report raised concerns about the company’s balance sheet and questionable financial practices. The fallout rocked the crypto world, causing a landslide of losses in the billions. Just weeks later, Bankman-Fried was arrested and charged with stealing more than $10 billion from customers and investors. Prosecutors also accused him of inflating FTX’s token value and engaging in insider trading. He was convicted about a year later and sentenced to 25 years in prison, with an $11 billion forfeiture tacked on for good measure.
One of a CEO’s primary responsibilities is to conduct business within legal guidelines and maintain an ethical business culture. The bigger the company, the more people who can be potentially harmed by fraudulent, illegal, and unethical CEO behavior, and the consequences of this behavior are severe. No situation justifies acting this way. Even if your company fails, you can file for bankruptcy, reorganize, learn from your business failure and start again. Be aware of the laws and regulations that apply to your company and industry, and ensure compliance with them.
Dave Calhoun served as the president and CEO of the global aerospace company Boeing Company from January 2020 until August 2024, when he officially stepped down amid growing pressure from ongoing safety and quality control failures. Consider the following situations:
Just because the company’s problems began on someone else’s watch doesn’t entitle a CEO to place all the blame on their predecessor. Once a person becomes CEO, 100 percent of the responsibility falls to them, and it is incumbent upon that individual to fix the problem.
Being the head of a company isn’t a walk in the park. You’re expected to raise profits, improve manager-employee relations, keep shareholders happy, maintain an excellent reputation and more. The gig requires long hours and continually forces you to face moral and financial challenges. It’s no wonder that some end up facing executive-level employee burnout.
Fortunately, you can glean lessons from the mistakes of those who’ve come before you. We’ve compiled tips for business executives taking on this leadership role.
Jennifer Dublino contributed to this article.