The Worst CEOs of 2016

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John Stumpf

9. John Stumpf
> Company: Wells Fargo & Co. (NYSE: WFC)
> 3-yr stock price change: 21.21%
> CEO tenure: June 2007 – October 2016

John Stumpf recently stepped down from his role as CEO of Wells Fargo as a result of the scandal involving the bank’s ethically questionable sales tactics. The third largest bank in the United States is currently under investigation by the Department of Justice for sales practices during Stumpf’s tenure. The scandal received significant media attention as Stumpf was grilled by a bipartisan team of lawmakers on Capitol Hill. Though Stumpf earned tens of millions of dollars in his nearly 10 years at the head of the bank, he did not receive a severance package upon his voluntary retirement.

Since Stumpf’s departure, Wells’ COO, Tim Sloan, was elected CEO, and the company’s share price has climbed by over 20%.

Walter Robb

10. Walter Robb
> Company: Whole Foods Market Inc. (NASDAQ: WFM)
> 3-yr stock price change: -45.58%
> CEO tenure: May 2010 – December 2016

After more than half a decade as co-CEO of high-end grocery store chain Whole Foods Market, Walter Robb will step down at the end of 2016. Going forward, the company will be headed by current co-CEO and co-founder John Mackey.

Under Robb, the grocery chain expanded from 12 stores to more than 460. However, it has also been embroiled in several scandals in recent years. Whole Foods was accused in 2015 of overstating the weight of pre-packaged items in New York City locations and for overcharging customers in Los Angeles in 2014. Additionally, due in large part to increasing competition, which led to declining profits, the company’s share price has been roughly halved in the last three years. Robb will receive a $10 million severance payment and a lifetime discount at the supermarket chain.

Ursula Burns

11. Ursula Burns
> Company: Xerox
> 3-yr stock price change: -27.8%
> CEO tenure: July 2009 – present

Beginning at Xerox as a summer intern in 1980, Ursula Burns has worked in various positions at the company for well over three decades, eventually taking the reigns from Anne Mulcahy in 2009. The transition occurred as the company reported falling sales in the face of the global recession, and things would get worse under Burns’ leadership.

Under Burns, Xerox acquired Affiliated Computer Services, expanding the company’s reach into the business services sector. Since then, Xerox revenue has fallen from $20 billion in 2013 to $18 billion in 2015. Xerox plans to split its operations in two: a business process outsourcing company and a printer business company. Burns will not head either entity.