Who are the absolute worst chief executives of 2012? Sydney
Finkelstein thinks he knows. The longtime professor at Dartmouth College’s Tuck
School of Business is the author of 11 books with such titles as Why Smart
Executives Fail and Think Again: Why Good Leaders Make Bad Decisions, so he
knows a thing or two about utter failure.
1. Brian Dunn, who resigned as chief executive of Best Buy
(BBY) in April after allegations surfaced that he had an inappropriate
relationship with a much younger subordinate...
2. Aubrey McClendon, the CEO of Chesapeake Energy (CHK) who
apparently has trouble keeping his company’s finances and his own apart..
3. Andrea Jung, who stepped down as chief executive of Avon
(AVP) in April but remains as chairman through the end of this year. Jung has
been unable to fix the company’s operational problems, failed to groom a
successor, and turned down a $10.7 billion offer from the beauty-care company…
4. Mark Pincus, the CEO of Zynga (ZNGA), the mobile gaming
company that brought the world Farmville, among other online distractions.
Zynga stock is down 75 percent so far this year, and the company is losing top
executive talent..
Two other executives—Mark Zuckerberg at Facebook and Andrew
Mason at Groupon (GRPN)—almost made the list. The rap on Zuckerberg is his
“massive ego,” while both men get demerits for immaturity and shares that move
in only one direction, and not the right one. Says Finkelstein: “There’s no
reason to believe they have the management skills to run a major public
company.”
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