Ron Marshall (CEO): Borders
Why this quit is big: Leaving Borders among rumors of financial turmoil and a path toward insolvency, Ron Marshall departs after accepting the CEO position at Great Atlantic & Pacific Tea Co.9 Marshall is credited with reducing the company’s debt, cutting its expenses and building the publishing community’s confidence in the struggling retail chain. Abandoning of Borders as the book business is in turmoil, and as electronic book sellers are luring consumers away from book purchases at physical stores, does contribute to the rumors of Borders demise.
Why it’s not as big as our Top 10: Even though he only served a year in his post as CEO of Borders9, this was not the most shocking news of 2010. Marshall transitioned from, and to, a completely different industry. He was not likely to single-handedly save the already troubled vestige of publishing. It brings into focus that it was most likely the lack of succession planning which caused his hasty arrival and departure. In truth, his hiring was more regrettable than his quit.
The Associated Press. “Former Borders CEO Ron Marshall to Lead A&P”. 27 January, 2010.