Wednesday, January 04, 2023
Instability
CEO for just eight months then a sudden resignation. The stock drops and the public wonders what has happened. This is instability that has engulfed Victoria's Secret, the purveyor of women's intimate apparel. It is a PR and financial crisis, and it will be resolved only when a new CEO is appointed who stays the course for more than two years and gives the company a defined direction. Employees and the public want a sense of control, faith in the CEO that she knows what she is doing and is guiding the company wisely. When a CEO abruptly leaves with no explanation, that trust is shattered and it takes time to rebuild. Meanwhile, the daily demands of business don't relent. The question for the company now is how to keep moving forward until a new CEO is in place.
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