Home Business NewsBusiness I QUIT: The 5 big business bosses who resigned this year amid scandals

I QUIT: The 5 big business bosses who resigned this year amid scandals

by LLB Editor
4th Dec 15 11:28 am

Think about the biggest resignations of the year and Ed Miliband, Nick Clegg and Nigel Farage spring to mind.

But the dog-eat-dog world of business too saw some high-profile resignations, take a look at these five:

1. Who: Martin Winterkorn, CEO, VW

Martin Winterkorn VW

When: September 2015

Why: Winterkorn stepped down following the scandal around the emissions of VW’s diesel cars. An investigation by the Environmental Protection Agency (EPA) concluded that many VW cars being sold in America were fitted with a “defeat device”, software that could detect when they were being tested and faked performance to improve results.

Replacement: Matthias Müller, former CEO of Porsche AG.

> Read: VW used the same fraudulent emissions tech in Europe as in US, company admits

2. Who: Camila Batmanghelidjh, CEO, Kids Company

Camila Batmanghelidjh

Camila Batmanghelidjh, founder of Kids Company

When: July 2015

Why: Camila Batmanghelidjh founded charity Kids Company 19 years ago to help underprivileged children and their families. In August this year, Kids Company closed after allegations of financial mismanagement and sexual offences came to light.

Replacement: No replacement

> Read: “I’m worried people might kill themselves” – Inside the collapse of Kids Company


3. Who: Dov Charney, CEO, American Apparel

When: January 2015
Why: Charney was fired from American Apparel in January this year after it emerged he misused corporate funds. This wasn’t the first time Charney got himself into hot water. In 2004, Charney was accused of sexually harassing female employees. The ethical clothing company filed for bankruptcy in October 2015.

Replacement: Paula Schneider

> Read: 5 scandals surrounding sacked American Apparel boss Dov Charney that you need to know about


4. Who: Sepp Blatter, president, FIFA

Sepp Blatter and his scaly hands

When: October 2015

Why: Fifa president Sepp Blatter was given a 90-day provisional suspension after members of the football organisation’s ethics committee accused him of signing a contract “unfavourable” to football’s governing body. He was also accused of making a “disloyal payment” to Uefa president Michel Platini.

Replacement: none

> EXCLUSIVE: Qatar fights back – “No workers have died on Qatar World Cup projects”


5. Who: Richard Price, CEO, BHS

Richard Price, former CEO, BHS

When: March 2015

Why: Richard Price announced his resignation from BHS after the retailer lost 800,000 shoppers in the past five years. Sir Philip Green, owner of the 87-year-old chain, sold it to investment fund Retail Acquisitions for £1. At the time of the sale, BHS was debt-free but had made a £69.6m loss on £675.7m of sales in 2013.

Replacement: None

> Read: Sir Philip Green has sold BHS for £1 – here are 6 key facts about its new mysterious owner


Now read:

Cheap as chips: 5 iconic businesses sold for £1


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