The CEO of a company plays an important role in every organization. Their job is to steer the organization in the right direction while keeping the company financially stable. In addition to this, they also need to be a role model for the employees and guide the company to success.
However, things don’t always go as planned and the CEO of a company may call it quits. There could be a variety of reasons for a CEO’s exit like a toxic corporate culture, internal dispute or a change in the wants of the customer. Here’s a look at some of the biggest CEO departures in recent years.
Matthias Muller And Volkswagen
Matthias Muller was named CEO of Volkswagen in 2015 when he replaced the company’s previous CEO, Martin Winterkorn. Under Winterkorn, Volkswagen developed technology for its test vehicles to make it look like the company was emitting lower amounts of carbon dioxide when in reality it wasn’t. The company had to pay severe fines for its illegal activities.
Before Matthias Muller took over as CEO, he had been in charge of Volkswagen’s subsidiary, Porche. When he took over Volkswagen, Muller made changes to the existing management team and invested in electric vehicles. He stepped down in 2018 and was replaced by Herbert Diess.