Al Dunlap was by no means massive on people-pleasing.
“You’re not in business to be liked,” stated the manager dubbed “Chainsaw Al” because of his penchant for mass layoffs. “If you want a friend, get a dog.”
Dunlap, also known as “Rambo in pinstripes”, ultimately ran afoul of the Securities and Trade Fee, however not earlier than taking a giant chew out of company America by his ruthless downsizing type.
The previous chairman and CEO of Sunbeam was one many controversial prime executives who’ve boldly shoved their manner into the highlight.
Whereas some CEOs hold a low profile as they perform their duties, others attain near-rockstar ranges of recognition.
Tesla (TSLA) Elon Musk has by no means been accused of being a shrinking violet, seeing as how he purchased a complete social media platform — as soon as Twitter, now X — and remade it in his personal picture.
Musk cranked out controversy as he campaigned for Donald Trump through the 2024 presidential race after which helmed the broadly criticized Division of Authorities Effectivity, which did a large Dunlap-style job lower on the federal authorities.
Reynolds/AFP through Getty Photographs
Palantir CEO Alex Karp has a historical past of creating controversial statements.
Musk slams pay-package critics
A Gallup ballot launched in August indicated that the richest man on this planet was additionally probably the most hated man in America.
And talking of wealthy, Musk is nicely on his technique to turning into the world’s first trillionaire after holders of greater than 75% of the electric-vehicle maker’s shares permitted a large pay package deal, a transfer that even prompted a watch roll from the pontiff.
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“If that is the only thing that has value anymore, then we’re in big trouble,” stated Pope Leo XIV, in accordance with the Related Press.
Musk, nevertheless, made his case for the mammoth paycheck final month through the tech firm’s third-quarter earnings name.
“I just don’t feel comfortable building a robot army here and then being ousted because of some asinine recommendations from ISS and Glass Lewis who have no freaking clue,” Musk stated, referring to the 2 largest proxy advisory companies, which each gave the thumbs right down to the proposed pay package deal.
“I mean, those guys are corporate terrorists,” he added. “This is a fundamental problem for corporate governance. They’re not voting along the lines that are actually good for shareholders.”
The 2 companies didn’t instantly reply to requests for remark.
Palantir (PLTR) CEO Alex Karp additionally has raised eyebrows — and hackles — various occasions with his slicing remarks.
Along with describing about “wokeness” as a “thin pagan religion,” Karp just lately stated he liked the concept “of getting a drone and having light fentanyl-laced urine spraying on analysts that tried to screw us.”
Market strategist: Investing in Tesla is investing in Musk
Jay Woods, chief market strategist at Freedom Capital Markets, described each Tesla and Palantir as “cult-like” shares.”
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“Without Elon Musk there is no Tesla,” Woods instructed TheStreet Professional’s Chris Versace through the Shares & Markets podcast. “If you’re an investor in Tesla, you’re not investing in the electric cars. You’re investing in Elon Musk.”
Woods stated the give attention to Tesla is on autonomous driving however “there is so much under the umbrella that is Tesla.”
The “robotics aspect of it, to me, the sky is the limit,” he said. “But you need to let them cook. And this pay package is something that will drive him and drive investors to get on board.”
Jeffery Gordon, co-director of Columbia Law School’s Ira M. Millstein Center for Global Markets and Corporate Ownership, described the concept of a celebrity boss as “a mixed bag.”
“Elon Musk is today’s poster child,” he said. “He once built Tesla brand loyalty. He now seemingly has degraded it, but he has held onto a retail stockholder base. Jeff Bezos built Amazon, then left and afterwards has become a celebrity ex-CEO.”
“I guess the most important recent positive example is” Apple (APPL) Co-Founder Steve Jobs, “who did not venture into the political or social realm but became a celebrity through his creative flair and marketing.”
Looking back, Gordon noted General Electric’s (GE) Reginald Jones, whom Gordon called “a corporate statesman of the 1960s and ’70s.” As CEO from 1972 to 1981, a turbulent time in society and enterprise, Jones sought to develop cooperation between the enterprise group and authorities.
Gordon additionally talked about Jones’s successor, Jack Welch, “famed in his time but much criticized later.” Welch was dubbed “Neutron Jack” — a reference to the neutron bomb — in the 1980s for eliminating employees while leaving company infrastructure intact.
“What I think is interesting is how few CEOs offer themselves up to the celebrity limelight,” Gordon said.
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