Sleepless Nights for CEO‘s
Wednesday, October 16th, 2002 Auto Liability Property Risk Management Workers' Compensation“Uneasy lies the head that wears a crown.” King Henry’s 15th century lament over his lack of sleep may well be shared these days by a number of 21st century CEO’s, as investors call for their heads in the wake of plummeting earnings reports and a free fall in company share prices. In one nine-day period last September no less than four company heads were forced out. Bob Mendelsohn, Director and Group CEO of the U.K.’s Royal & Sun Alliance, on Sept. 12. The next day Gianfranco Gutty, resigned as the Chairman of the Board of Italy’s largest insurer, Generali SpA. In the week that followed Lukas Mühlemann stepped down as Chairman and CEO of Credit Suisse, the parent company of the Winterthur Group, and, proving that the carnage wasn’t exclusively European, Paul Batchelor was forced out as the CEO of Australia’s AMP.
