CEO Of the company is the most senior person Of a company he holds a lot power than any other employee. Although, a CEO is not the only one responsible for a company’s success or failure but the members of the company are also included in it but all blame goes to the CEO,but their decisions mainly ruin the company.
Today We Discuss On The Five Worst CEO’S Of All Time.These People Ruined the multi million companies and force companies to get sold.
Nokia Mobile CEO: Stephen Elop:
Stephen Elop can be called A Microsoft Trojan Horse CEO(someone Who was put there by Microsoft to work for Microsoft in Nokia).Most Prominent tech blogger call him the King of thieves. He Got many rewards from Microsoft under his CEO career which make him in the top of the list.the timeline of the events of his career are as as follows.
Microsoft Trojan Horse and a King Of Thieves
He was a vice president at Microsoft before becoming the CEO of NOKIA.as far as his leadership is concerned he single handedly ruined the world;s best mobile phone company to complete failure.he convinced board of directors very easily by saying that Nokia is different from other android phone manufacturing companies but in reality he was benefiting Microsoft.
Stephen Elop was just trying to assist Microsoft. He said that windows phone had potential to carry Nokia which was still the world largest mobile phone company.he thought that windows phone are more smoother and Microsoft wanted people to use windows phone so that Microsoft would get benefits but it led to destroy Nokia.
He Forced Nokia To Make Windows,an Incomplete OS
however Nokia was working for Microsoft Nokia was used to increase windows phone market share.which was an incomplete OS mainly people like windows on PC not on mobiles because it isn’t a mobile OS.Windows Phone Didn’t even have a copy or paste feature it had a great back and front camera but the Windows store only had 100 popular apps. Nokia brand name was destroyed due to the Windows Phone.
Yahoo CEO-Marissa Mayer:
Yahoowasone of the oldest search engine providers and a competitor to Google.The Company Tried To compete with google.But google move ahead when it released Android,PlayStore And other ventures which left yahoo at the end of the page.Marissa Mayer was a former google employee who joined yahoo in 2012. Since he took the charge of the company the company’s financial status started to decline.
Her Shopping Spree Included 53 Companies Which Cost $3 Billion
She Hired Top Executives from other companies and letter fired them from yahoo. Giving away millions in ust compensation.Marissa Spent $3 billion in a wild buying spree.out of all the companies that yahoo bought under her leadership only tumblr was able to get little success.Instead Of She Would Go for Netflix or Snapchat, she acquired 53 other companies during his careership as CEO in yahoo.she thought that company would get back his popularity but it only decreased the company’s financial status.
She made all acquired companies shut down wasting all of the company’s money
Yahoo’s business value became less than zero before it got sold to Verizon for just $4.8 billion a few days ago.For Company which had such a global business spent $3 billion,these companies were needed to be given for free except for Tumblr.
Compaq CEO –Eckhard Pfeiffer:
The Story of Compaq and Eckhard Pfeiffer is probably the worst thing you could hear in any industry. Eckhard Was The CEO Of Famous Company Compaq,it was started in 1982 and was one of the first computer manufacturing companies in the world.it produced one of the best computers in the market.When They entered the market they were able to push IBM Out.
Expensive Expansion Plans Ruined The Company
Eckhard took over the company as CEO IN 1991.The Company Would Have Great had it stayed within its core business.but Eckhard Had Some Other Plans For The Company He Wanted To Expand Compaq.he was unware of the DEC-owned altavista’s value.It Was a famous search engine before yahoo and google.as Compaq changed its focus.Dell steal the low-end market share. Eckhard was sacked by BOD(Board Of Directors).then company fall down and failed to recover Compaq was bought by HP in 2002.
Hp CEO Carly Fiorina:
Carly Fiorina claims that she did many things for things the company, but during her leadership all hp got was failure economic loss and fall.She Claims that she made more jobs,increasing customers day by day making HP A leader in every market it looks like she is justifying herself for a us presidency candidate.
She Became CEO OF HP in 1999 as soon as she became the CEO of HP she was wanting to buy price-water-house-coopers for almost $14 billion. A newspaper wrote about it and therefore Carly needed to withdrew that deal.soon after that IBM bought that company for just $4 Billion.
She Was about to buy company worth $4 billion for $14 billion
Some time later she sat her eyes on Compaq computers.HP bought Compaq in 2002 for almost $19 billion the company didn’t worth that much coz company was already in loss.The decision proved to be controversial from the start as the board members weren’t satisfied, the son of co-founder of hp Walter Hewlett. They said that buying Compaq will dilute HP core business which is office supplies and printers.
The Board of directors proved to be right as Dell got the hold of pc market again and pc has to lay off almost 17,000 employees so from here we can say that she provided some jobs.However, hp revenue started to decline every day since then.
When Fiorina Was Fired, HP’s Market Value increased by $3 billion.
Her story of being CEO Was Written by Carol J.Loomis who wrote 6700 word article,2005 fortune cover story titled “Why Carly’s big bet is Failing”.A few weeks after this story was published she was fired by HP Board of directors.When This News went public company gain almost $ 3 billion of market value that day.
Apple CEO John Sculley:
John Sculley was Made CEO of apple in 1983.From starting he considered Steve Jobs As A Rival The Founder of the company was his rival. Therefore he is considered as the worst CEO Of All Time.
John Was hired due to its experience in many other companies his marketing skills were also great.He was head of pepsico nad introduced The pepsi challenge campaign.Steve Jobs forced John To leave pepsico and join apple.John could be a great addition to apple due to its experience which does not have any experienced employees like steve jobs.
Within Two years, He convinced board to remove Steve from all managerial responsibilities. Steve also had marketing skills and this posed a threat to johns Position.
Johns jealousy lose apple billions and cost him his job.
He Always believed in expensive marketing campaigns but he always lacked any technical knowledge which was need for a company like apple.He tried to start camera and cd player business but all he got was failure.
John Loosed His Job in 1993 after bringing down apple from one of the top companies to a terrible computer manufacturer which was later uplifted By Bill Gates providing funds to apple.
It is not that company losed billions due to these CEO’S but employee also played a role to force company to lose billions. But after all the blame always goes on to the Chief.