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Posted in 2016 contender | 0 comments

Priceline.com: Paul Hennessy (CEO)

Priceline.com: Paul Hennessy (CEO)

Why this is a big quit:

Losing Paul Hennessy in the middle of his implementation of a turnaround was a big deal for Priceline.com. After their prior CEO was forced to resign in 2015 after “personal relationship” with another employee, Priceline.com needed stability. Hennessy named his own terms, and delivered successful marketing campaigns, which began to increase revenue. However, the stability that Hennessy provided only lasted a year, before leaving to head a $168 million venture-backed car buying service. Why this is not as big as the top 10: Despite the volatility that Hennessy’s departure caused, his lack of tenure as CEO (only in the position for 14 months), and limited influence is not enough for him to make the top 10. His resignation did not cause tremendous financial or reputational loss. The company is also confident in his replacement, Brett Keller, who has a successful 17 year track record at Priceline.com.

 

Why this is not as big as the top 10:

Despite the volatility that Hennessy’s departure caused, his lack of tenure as CEO (only in the position for 14 months), and limited influence is not enough for him to make the top 10. His resignation did not cause tremendous financial or reputational loss. The company is also confident in his replacement, Brett Keller, who has a successful 17 year track record at Priceline.com.