Let me start by saying first and foremost the paychecks and severance packages are beyond ridiculous. Like fucking unconscionable.
Now, that being said yes, when the CEO rightly or wrongly (typically rightly) becomes the fall guy their career is over. If they manage to get another job it probably won’t be in a leadership position, and if it is it would be with a much smaller organization that simply won’t be able to pay them the big bucks. The best a CEO can hope for after a public downfall is to be put out to pasture.
I don’t feel sad for them. While their golden parachute might represent literally the last money they will ever make it’s more than enough to live off of for the rest of their lives.
There’s an even bigger picture, though. Their personal reputation is ruined, but so is their family name. With the amount of money and prestige they were building up they may have had aspirations of positioning their kids as the elites of the future. Family money and connections could have ended up with their children some day becoming Senators and Congressmen. If they end up taking the fall, their public failure will sully their name for a couple of generations.
The kind of people that become CEOs of high-profile companies are a special breed of psycho. They’re willing to accept huge piles of money to roll the dice on their own career and the reputation of themselves, their children, and their grandchildren on the off chance they manage to avoid the chopping block until retirement.
Let me start by saying first and foremost the paychecks and severance packages are beyond ridiculous. Like fucking unconscionable.
Now, that being said yes, when the CEO rightly or wrongly (typically rightly) becomes the fall guy their career is over. If they manage to get another job it probably won’t be in a leadership position, and if it is it would be with a much smaller organization that simply won’t be able to pay them the big bucks. The best a CEO can hope for after a public downfall is to be put out to pasture.
I don’t feel sad for them. While their golden parachute might represent literally the last money they will ever make it’s more than enough to live off of for the rest of their lives.
There’s an even bigger picture, though. Their personal reputation is ruined, but so is their family name. With the amount of money and prestige they were building up they may have had aspirations of positioning their kids as the elites of the future. Family money and connections could have ended up with their children some day becoming Senators and Congressmen. If they end up taking the fall, their public failure will sully their name for a couple of generations.
The kind of people that become CEOs of high-profile companies are a special breed of psycho. They’re willing to accept huge piles of money to roll the dice on their own career and the reputation of themselves, their children, and their grandchildren on the off chance they manage to avoid the chopping block until retirement.