C-suite resignations continue as more CEOs resign in 2023
By Zion Rufus
The exodus of leaders across industries have continued into 2023 as more executives announce their resignation or intention to step down before the end of this year.
On Tuesday, M&C Saatchi’s CEO, Camilla Kemp announced that she will be leaving the agency at the end March. Kemps had worked alongside Ben Golik, another C-suite officer who left at the end of 2022. Twitter CEO Elon Musk who spoke at the World Government Summit in Dubai last Wednesday revealed plans to step down as Twitter CEO by the end of 2023.
YouTube CEO Susan Wojcicki also says she’s stepping down. Wojcicki, who joined YouTube as CEO in 2014 said she was stepping down to start a new chapter focused on her family, health, and personal projects. The CEOs of Salesforce and Slack both announced they were stepping down. Starbucks owner and CEO, Howard Schultz will be stepping down in April 2023.
“What we are seeing is a reiteration of the fact that nothing stays still. Not all resignations are as a result of a company’s poor performance or other scandalous reasons. Nothing stays still, and neither should you,” said Lanre Basamta, a renowned author and marketing professional told MARKETING EDGE.
“And this isn’t limited to C-suite officials. What I have noticed is that everything moves and changes fast; the business landscape, customer dynamic, consumer trends etc. If the customers and the business environment is changing, why should you stay stuck? So move with the times, pay attention to the trends, learn new knowledge, take new training, and change jobs a few times, just never stay stuck please.
In 2022, Deloitte reported around 70% of high-level executives are seriously considering quitting their jobs, largely to improve their emotional well-being. Recent reports by Challenger, Gray & Christmas showed that over 650 CEOs left their jobs in 2022, including Meta’s Sheryl Sandberg and Jeff Zucker from CNN. Founders and co-Chief Executive Officers of Jumia Technologies, Sacha Poignonnec and Jeremy Hodara also stepped down from their positions in 2022. Other executive resignations include FedEx, Domino’s Pizza, Shell, Gap, American Airlines, Pinterest, and many more.
Nigeria also recorded a large number of resignations across sectors in 2022 as experts in C-Suite levels, and professionals with high-paying jobs left the country in droves. Owing to the current economic hardship, and worsening insecurity, this japa trend has evolved to a national talking point in 2023 as thousands of young Nigerians leave the country in search of a better life abroad.
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