A recent wave of executive resignations at large US companies is being driven by stress, loneliness and a lack of work-life balance.
Executive departure
Difficult working conditions
Recently, many CEOs of well-known corporations have unexpectedly resigned. A record 622 CEOs were replaced at U.S. companies last quarter, up 48% from a year earlier, according to recruiting firm Challenger, Gray & Christmas. Andrew Challenger, the company's senior vice president, attributes this to the incredibly challenging work environment for senior executives in recent years.
Top Managers' Complaints
Many managers complained about enormous pressure, stress, loneliness and lack of balance between work and personal life. Thus, Noel Quinn from HSBC bank said that he was resigning to find a better balance between business and the private sphere. Airbnb's Brian Cheskiwin wrote that he experienced deep feelings of loneliness as a CEO. Elon Musk from Tesla and SpaceX admitted that leading a company is not a joy at all, but sometimes just a nightmare associated with solving the most terrible problems.
Exceptions to the rules
At the same time, there are also long-lived CEOs, such as , 93-year-old Warren Buffett of Berkshire Hathaway, who has led the company for more than half a century. The secret to his success is the delegation of authority to numerous divisional CEOs, which allows Buffett to focus on allocating capital inside and outside the firm.
Glossary
- HSBC (The Hongkong and Shanghai Banking Corporation) is one of the largest banks in the world, based in London.
- Paramount Global is an American media company that unites television networks, publishing houses, film distribution and streaming services.
- Dr Martens is a British manufacturer of iconic shoes and accessories.
- Berkshire Hathaway is a large American conglomerate founded by Warren Buffett.
Links
- Business Insider: https://www.businessinsider.com/ceo -resignations-stress-pressure-loneliness-work-life-balance-elon-musk-2024-4
Answers to questions
Who are CEOs and what makes their work remarkable?
What examples of recent CEO resignations were mentioned?
What problems and difficulties do CEOs experience?
Why do some CEOs stay in their jobs longer?
What consequences can high CEO turnover have?
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Discussion of the topic – Wave of CEO resignations in the US: stress, pressure and loneliness at the top
The recent wave of CEO resignations at large US companies shows that being at the top of the corporate ladder is not always easy. Constant stress, pressure and loneliness make it increasingly difficult to maintain mental health and motivation.
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Roberto
Being a CEO is really stressful. It is incredibly difficult to maintain a work-life balance. 🙃 It’s not surprising that many decide to leave.
Sofía
Yes, constant pressure, loneliness and lack of time for personal life - all this makes the job of a CEO a real test. 😥 It takes nerves of steel to cope with this for years.
Klaus
What's the point of being a CEO if you don't enjoy it? 🤔 Of course, the responsibility is colossal, but isn’t that why they take such a position - to manage a large company, make decisions and implement ideas?
Émilie
I think at some point even the most resilient people get tired of constant stress. 😓 It’s not for nothing that many top managers are looking for ways to restore balance between work and life.
Oleksandr
Eh, being a CEO used to be more prestigious. 🧐 And now this position is associated only with stress and troubles. Yes, the money is good, but is it worth the loss of health and life?
Günther
This is all nonsense! 😤 When I was young, I worked 16 hours a day and nothing happened, I’m alive and well. The current CEOs are weaklings, that's all. If you wish, you can work well and not forget about rest.
Francesca
I disagree, Günther. 🙅♀️ The requirements for modern CEOs are much higher than before. You have to constantly keep your finger on the pulse, follow trends, understand new technologies... This is a huge burden. 💻
Jan
Absolutely right, Francesca! 👍 Now CEOs have to make lightning-fast decisions in a highly competitive environment. One mistake and the company risks losing millions. 💸 This kind of stress can overwhelm anyone.