The Madeleine Brand Show for May 14, 2012

A record number of Monday resignations?

Yahoo scott thompson

Noah Berger/AP

Scott Thompson, who in January 2012 was named CEO of Yahoo Inc., poses for photos at PayPal's offices in San Jose, Calif. Yahoo shareholder and New York hedge fund manager Daniel Loeb questioned Thompson's qualifications and integrity after exposing a misrepresentation about the executive’s education. The fabrication was confirmed by Yahoo Inc. on Thursday, May 3, 2012 and Johnson resigned on Monday, May 14, 2012.

Monday. Back to work. Back to school. Nose to the grindstone. You resign yourself to the long week ahead.

But this Monday another type of resignation is dominating headlines as an exceptional amount of job quitting has taken place.

For example, Scott Thompson, CEO of Yahoo, resigned. He was outed for padding his resume. And after only having held the job for four months. No details have emerged about his severance package.

After the widely reported botched deal that cost JPMorgan Chase $2 billion, Ina Drew, the chief investment officer at JPMorgan Chase, has resigned.

Richard Schulze, the founder of retailer Best Buy, is stepping down as chairman of the company. An investigation found he knew the firm's former CEO, Brian Dunn was having a relationship with a female employee, and failed to alert other members of the board. Brian Dunn resigned last month. Best Buy also announced today that Mr. Dunn will receive a severance package worth $6.6 million.

Steve MacNamara, chief of staff to Florida Governor Rick Scott has resigned after allegations of misconduct, including charges he steered lucrative state contracts to friends.

Newspaper publisher Gannet has announced that its chief financial officer has resigned. He's abandoning the news business to work for the big government technology contractor, Computer Sciences.

Finally, six Buddist monks in South Korea have resigned after they were discovered drinking and smoking at an illegal high stakes poker game last month.

Just a few of the examples of why today may go down in history as resignation Monday.


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