1. Ronald D. Boire
> Company: Barnes & Noble Inc. (NYSE: BKS)
> 3-yr stock price change: 18.30%
> CEO tenure: September 2015 – August 2016
Ronald Boire stepped down as the head of Barnes & Noble in August 2016. He was the third departure in as many years. Boire lasted less than a year, assuming the CEO role in September, 2015, after previous CEO Michael Huseby moved to role of executive chairman. Boire’s tenure at the company was marked by failure. Like other brick-and-mortar retailers, Barnes & Noble struggles to compete with e-commerce sites like Amazon, a problem exacerbated by the rise of e-readers and e-books. Boire attempted to expand the company’s repertoire through games, puzzles, music, and more, but these appear to have made little difference in reversing the company’s fortunes. Barnes & Noble reported a $24.6 million loss in its fiscal 2016 year, which ended a few months before Boire’s departure.
2. Monty Moran
> Company: Chipotle Mexican Grill Inc. (NYSE: CMG)
> 3-yr stock price change: -28.15%
> CEO tenure: January 2009 – January 2017
Chipotle Mexican Grill’s problems began in 2015, when hundreds of customers and employees who had eaten at a location in Simi Valley, California became sick with norovirus. Issues related to contaminated food and health code violations at locations nationwide continued into 2016, sending the company’s share price plummeting.
In the wake of the fallout, the board decided to let go of co-CEO Monty Moran, who will depart in January 2017. Despite the fact that health code violations also occurred under founder and current co-CEO Steve Ells’s, watch, he will act as the company’s sole chief executive going forward.
3. Renaud Laplanche
> Company: LendingClub Corp. (NYSE: LC)
> 3-yr stock price change: -77.88%
> CEO tenure: 2006 – May 2016
LendingClub is the largest online lender by total volume in the United States. Earlier this year, the company’s founder, Renaud Laplanche was ousted amid scandal and a subsequent subpoena from the Justice Department. According to an audit conducted by an outside law firm, Laplanche failed to inform the board about his own investment in a LendingClub customer. After he stepped down, LendingClub’s share value was cut in half, and has yet to fully recover.
Within months of leaving the company, Laplanche started a new marketplace lending site called Credify Finance that will likely directly compete with LendingClub.
4. Terry Lundgren
> Company: Macy’s Inc. (NYSE: M)
> 3-yr stock price change: -32.07%
> CEO tenure: February 2003 – present
Terry Lundgren, CEO of Macy’s for well over a decade, will step down in early 2017, handing the top position to current company president, Jeff Gennette. The century-and-a-half old business has been struggling in recent years with slow mall traffic and growing competition from online retailers. Lundgren tried to improve Macy’s fortunes by closing stores and reducing costs. Still, the company has faced declining profits in the last two years, and investor confidence has slipped dramatically in the last year and a half.
With Lundgren out, shareholders are hoping Gennette will be able to overhaul the company’s business and reverse recent trends.