Supercomputer maker Silicon Graphics has lost its president and CEO, Mark Barrenechea – a longtime executive with a specialty in the software business – to enterprise content management software provider OpenText. SGI announced last Wednesday morning that Barrenechea would be stepping down at the company, which makes shared …
The unmissable CEO
"The news of Barrenechea's abrupt departure was not received well by SGI shareholders. The company's shares lost 14 per cent of their value on Wednesday, December 14 when the announcement was made, and are off a total of 25 per cent on Monday morning compared to the closing price of $14.03 on December 13."
Even in these days of the book of Jobs' it is worrying to see organisations so tied to the cult of CEO that the loss of a single individual will do this to their share price. Is this the equivalent of "http://harmful.cat-v.org/software/c++/I_did_it_for_you_all" (or similar) with CEOs building structures that are so dependent on them, their egos and their options that their exit is painful if not fatal