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Majority Think CEOs Terminated for Non-Performance Related Issues

WEST PALM BEACH, Fla. - Not all CEO terminations are created equal. With a number of high-profile CEOs being relieved of their duties recently, Credit Union Times' expired voting poll asked the following question: What do you think leads to most credit union CEO terminations? The poll drew a record...

By Staff Writer | Updated on February 03, 2004

WEST PALM BEACH, Fla. – Not all CEO terminations are created equal. With a number of high-profile CEOs being relieved of their duties recently, Credit Union Times’ expired voting poll asked the following question: What do you think leads to most credit union CEO terminations? The poll drew a record 545 respondents, and the results indicate that the majority believe that CEOs are terminated for falling out of favor with the board for non-performance related reasons. Coming in second however was termination due to performance. Next up was termination because someone was working behind the scenes to take over the CEO position, followed by the board feels the need to make a change. The official results are as follows: * CEO falls out of favor with the board for reasons other than performance 43.49% * CEO falls out of favor with the board for performance-related reasons 24.4% * Someone is working behind the scenes to become CEO 20.37% * Board feels the need to make a change 1.74%

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