Why billionaires are leaving the CEO post?
The richest billionaire in the world, Jeff Bezos, surprised everyone in February by announcing his decision to step down as CEO of the company he created 27 years ago. But he is just one of those entrepreneurs who decided step down.
Why are founders moving away from operational business management at their peak time, and how has the pandemic affected this?
On the day that Chinese online retailer Pinduoduo announced it had surpassed giants such as Alibaba and Amazon in terms of active users, founder Colin Zheng Huang announced his decision to step down as chairman of the board of directors. Before that, in June, Zheng Huang had already left the post of general manager. What made the entrepreneur, whose fortune is estimated at $ 50 billion by Forbes, to leave at the height of his success?
As Forbes.ru notes, it is almost always difficult for a CEO to resign, but it is even more difficult for number one employees to decide on it. The Pinduoduo founder may have been influenced by the increased focus on his company, as well as the entire Chinese tech sector. But Zheng Huang is not the only company founder who has decided to leave recently.