8 Notorious CEOs Ousted by Sex Scandals
Sex scandals involving high-profile CEOs often rock the corporate world, leading to swift consequences for the executives involved. These incidents not only tarnish reputations but also prompt discussions about corporate governance and workplace culture. Here are nine notable CEOs who were forced out due to sexual misconduct allegations, highlighting their careers and the circumstances that led to their departures.
1. Harvey Weinstein - Weinstein Company
Background:
Harvey Weinstein was a powerful film producer who co-founded Miramax and later established The Weinstein Company. He played a crucial role in producing award-winning films and was a dominant figure in Hollywood for decades.
The Scandal:
In October 2017, The New York Times published an exposé detailing decades of sexual harassment and assault allegations against Weinstein from numerous women, including well-known actresses. The revelations sparked the #MeToo movement, which called attention to systemic abuse in various industries.
Outcome:
Weinstein was fired from his company and later arrested. In February 2020, he was convicted of rape and sexual assault, receiving a sentence of 23 years in prison, marking a pivotal moment in the fight against sexual misconduct.
2. Les Moonves - CBS Corporation
Background:
Les Moonves served as the CEO of CBS Corporation from 2006 until 2018. Under his leadership, CBS became one of the most profitable networks in the U.S., known for hit shows and strong ratings.
The Scandal:
In July 2018, The New Yorker published allegations from multiple women accusing Moonves of sexual misconduct, including unwanted touching and intimidation. An internal investigation was launched at CBS.
Outcome:
Moonves resigned amid mounting pressure and ultimately lost his $120 million severance package due to the findings of the investigation, which found that he had engaged in serious misconduct.
3. Steve Wynn - Wynn Resorts
Background:
Steve Wynn was the CEO of Wynn Resorts and a prominent figure in the Las Vegas hospitality industry, known for developing luxury casinos and hotels.
The Scandal:
In January 2018, a Wall Street Journal report detailed numerous allegations of sexual misconduct against Wynn, including accusations from former employees. These allegations spanned decades and suggested a culture of fear and intimidation.
Outcome:
Wynn resigned from his position shortly after the allegations surfaced, and the Nevada Gaming Control Board revoked his gaming license, leading to significant financial repercussions for Wynn Resorts.
4. Travis Kalanick - Uber Technologies
Background:
Travis Kalanick co-founded Uber in 2009, revolutionizing the transportation industry and leading the company to become one of the most valuable startups globally.
The Scandal:
In February 2017, former Uber engineer Susan Fowler published a blog post detailing her experiences with systemic sexual harassment at the company. This sparked widespread outrage and led to an internal investigation.
Outcome:
Kalanick resigned as CEO in June 2017 after pressure from investors and board members. His departure marked a significant shift for Uber as it sought to reform its corporate culture.
5. John Stumpf - Wells Fargo
Background:
John Stumpf was the CEO of Wells Fargo from 2007 to 2016, overseeing the bank during a period of rapid growth and expansion.
The Scandal:
Although primarily known for the unauthorized accounts scandal that erupted in 2016, Stumpf faced scrutiny over a workplace culture that fostered unethical behavior, including allegations of harassment.
Outcome:
Stumpf resigned in October 2016 amid growing criticism from regulators and lawmakers, resulting in significant damage to the bank's reputation.
6. Mark Hurd - Hewlett-Packard (HP)
Background:
Mark Hurd was the CEO of HP from 2005 to 2010. He is credited with restructuring the company and increasing its profitability during his tenure.
The Scandal:
In 2010, Hurd resigned following allegations of sexual harassment from a former contractor. An internal investigation revealed that he had violated HP’s standards of conduct.
Outcome:
Hurd’s resignation led to a major leadership shake-up at HP, and he later joined Oracle as co-president, continuing to work in the tech industry despite the scandal.
Related: From Boardroom to Bedroom Scandals: WiseTech’s Richard White Steps Down Amid Explosive Allegations
7. David Rosenberg - Restructuring Firm
Background:
David Rosenberg was a prominent figure in the restructuring and investment community, known for his leadership at various financial firms.
The Scandal:
In 2019, multiple allegations of sexual misconduct surfaced against Rosenberg, prompting an internal investigation by his firm. The allegations included inappropriate behavior and harassment towards subordinates.
Outcome:
Rosenberg was ultimately forced to resign from his position, and the firm faced scrutiny over its handling of the allegations. This situation highlighted ongoing issues of harassment in the finance industry.
8. Gavin Newsom - PlumpJack Group
Background:
Gavin Newsom, before becoming the Governor of California, co-founded the PlumpJack Group, a hospitality and wine business in California. He also served as the Mayor of San Francisco.
The Scandal:
In 2007, Newsom faced controversy over an affair with a former employee, which led to public scrutiny and questions about his judgment in professional settings.
Outcome:
Although he did not lose his job, the incident significantly impacted his reputation and ultimately shaped his political career as he transitioned into higher office.
Related: Abercrombie & Fitch Cuts Ties with Former CEO Amid Shocking Sex Trafficking Allegations
These nine CEOs illustrate how sexual misconduct scandals can have severe consequences for individuals and their companies. The repercussions of their actions extend beyond personal disgrace, impacting shareholders, employees, and corporate cultures. As these stories unfold, they serve as reminders of the ongoing need for accountability and transparency in leadership positions across all industries. The hope is that by addressing these issues head-on, companies can foster healthier work environments and restore public trust.
