Wednesday, February 26, 2020

C-Suite Advisory

Top 5 Worst Executive Mistakes Of 2014: Biggest CEO Blunders

Donald Sterling

Whoops! Which chief executives made the most egregious blunders in 2014?

Charlie Harary, Founder and Chief Executive Officer of H3 & Co. reveals the worst executive mistakes of 2014.

Several on the list of 2014 screw-ups, like Donald Sterling, former Abercrombie & Fitch CEO Michael Jeffries, Eddie Lampert, former United Technologies CEO Louis Chenevert, and Uber’s Travis Kalanick.

Perhaps the most egregious error, Donald Sterling, the former L.A. Clippers owner’s racially-charged comments that surfaced last spring, were the worst executive gaffe of the year.

Donald Sterling, whose remarks were caught on tape and released earlier this year, was eventually forced to sell the NBA franchise.

Sterling’s situation reflects one of the biggest CEO concerns in 2014, said Charlie Harary.  “The lesson, though, people need to fully get this year, and this is for every CEO in the world, words can destroy,” Harary said on CNBC’s “Street Signs.”

“The world is changing,” he said. “People expect things from CEOs now.”

Travis Kalanick, the CEO of Uber, the controversial ride-sharing service, failed to “come out stronger” in response to the Uber’s controversies.

Here are 2014’s biggest CEO blunders: full ranking of the worst executive mistakes:

1. Donald Sterling, former Los Angeles Clippers owner

2. Michael Jeffries, former Abercrombie & Fitch CEO
Former Abercrombie & Fitch CEO Michael Jeffries retired from the company earlier this month amid sagging sales and continued furor over past comments implying the brand catered to attractive people.

3. Eddie Lampert, Sears CEO
At Sears, chairman and CEO Eddie Lampert exhibited flawed leadership.

4. Louis Chenevert, former United Technologies Corp CEO
Shortly before Louis Chenevert abruptly retired as CEO of United Technologies, he made a side trip to Taiwan to check on the construction of his 110-foot yacht.

5. Travis Kalanick, Uber, smartphone-based car service CEO
As he failed to “come out stronger” in response to the Uber’s controversies.

Please let us know who he missed.

Let us know if you think any of these CEOs don’t deserve to be there and if there are other bosses we should have included.

Dr. Amarendra Bhushan Dhiraj
Dr. Amarendra Bhushan Dhiraj is the CEO and editorial director at CEOWORLD magazine, the leading global business magazine written strictly for CEOs, CFOs, top managers, company directors, investors, senior executives, business leaders, and high net worth individuals.
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