It’s quiz time, readers. On average, whose career lasts longer: an NFL player or a Fortune 500 CEO?
Believe it or not, the average NFL career (if you make the opening day roster as a rookie) lasts almost seven years … exceeding the 4.6 years a corporate leader stays on his job. Both are well-compensated, and both certainly face large amounts of stress. Of course, when an NFL player stays too long on the job, he typically only hurts himself and might cost his team a few million dollars. When corporate CEOs don’t know when to quit, they can put billions of dollars in stock market wealth in jeopardy, along with countless jobs.
The following five CEOs are among those executives who should exit the C-suite (or should have the door shown to them by their boards of directors) because they’re already causing some serious damage, or because it won’t be long before they do.
As a note, JPMorgan (JPM) CEO Jamie Dimon, under whose tenure the bank has paid tens of billions in fines, isn’t on the list. Though Sen. Elizabeth Warren (D-Mass.) recently called for his ouster, Dimon, considered by many to be one the savviest operators on Wall Street, isn’t going anywhere baring some as-yet unknown scandal. Also missing are Best Buy (BBY) CEO Hubert Joly and his counterpart at JCPenney (JCP), Myron Ullman, who are on the hot seat but not truly endangered yet.
These CEOs are on truly thin ice for a variety of reasons, and it’s time for them to shape up or ship out. In no particular order…