And the World’s Worst CEO in 2013 is…

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And the World’s Worst CEO in 2013 is…

Former billionaire Eike Batista was chosen as an example of poor management

And the World’s Worst CEO in 2013 is…

Entrepreneur Eike Batista is going through a tunnel seemingly with no light at the end – and even with no end at all. In less than two years, he went from a symbol of an emerging Brazil to an example for the world of how not to run a business, or, in his case, several businesses. Batista was chosen the world’s worst CEO in 2013.


The ranking is done by Sydney Finkelstein, a professor of strategy and leadership at Dartmouth’s Tuck School of Business, in the U.S., and the author of Why Smart Executives Fail: And What You Can Learn from Their Mistakes. Finkelstein mainly takes into account companies’ financial metrics (such as market capitalization and stock prices) and the CEO’s degree of responsibility for the company’s poor performance.


J.C. Penney’s Ron Johnson, Blackberry’s Thorsten Heins, Sears Holdings’ Eddie Lampert and Microsoft’s Steve Ballmer round out the top 5 list of the world’s worst CEO’s, topped by Eike Batista. In 2011, Batista was ranked the eighth richest man in the world. At a certain point, he was worth over US$30 billion.

 

Batista’s companies’ market capitalization started falling after oil company OGX, the group’s main company, did not manage to renegotiate its debt with creditors.