“You can’t do this to me, I built this company.” Stammered Norman Osborn played by Willem Dafoe in Spiderman, 2002. This is a common occurrence. When a founder’s passion overshadows their management skills, the result is that they are unfit to lead the enterprises that their start-ups become.
Here are some founders that were kicked out of their own company
Steve Jobs (Apple)
Steve Jobs was well-known for a number of accomplishments. Without a question, he was one of the most influential people in the field of technology. He was also recognized as Apple’s genius and the man who founded the world’s largest technology firm and guided it to glory after co-founding it with his friend Steve Wozniak from the ground up.
Income is critical in any organization, but it was even more important in a technological firm that was already publicly traded at the time. And the Macintosh’s catastrophic sales figures were the cherry on top of a few years in which Jobs squandered too much money on projects like the Apple Lisa, which failed to acquire traction in the market, resulting in too many losses and progressively eroding the board of directors’ faith.
Sculley was the one who decided to fire Steve Jobs from Apple’s Macintosh division, thereby evicting the co-founder from his home.
Jack Dorsey (Twitter)
Twitter was established in 2006 by Jack Dorsey, Evan Williams, Biz Stone, and Noah Glass. Dorsey was named CEO early on in the company’s history, but it wasn’t long before criticism of his bad management style, lack of communication with board members, and inability to solve the company’s continually malfunctioning servers arose. In 2008, co-founder and chairman Evan Williams fired Dorsey. In 2015, he rejoined the firm.
Jack Dorsey announced his resignation as CEO of Twitter in an email to his Twitter followers on November 29th. Dorsey stated three reasons for his decision to quit in the email. His faith in Parag Agrawal, his named successor as CEO, and Bret Taylor, the newly appointed Board Chair, was the first and second reasons. The final rationale he offered was for the Twitter crew.
Travis Kalanick (Uber)
His retirement came after a tumultuous few months at the firm, which included a slew of sexual harassment, macho culture, and top management departures.
Following the tragic death of his mother in a boating accident, Mr. Kalanick announced that he would be taking an indefinite leave of absence.
Travis Kalanick, the wealthy founder of the Uber ride-hailing network, has undoubtedly constructed one of Silicon Valley’s titans.
However, in recent months, he has issued a series of public apologies for his own and his leadership team’s actions.
Martin Eberhard (Tesla Motors)
Tesla Motors, an electric vehicle firm situated in San Carlos, California, was created by Eberhard and Tar penning in 2003. Nikola Tesla was the inspiration for the company’s name. Martin took over as the company’s first CEO.
With a $6.35 million investment in April 2004, Elon Musk was elected chairman of the board. When PayPal was purchased by eBay in 2002, Musk earned $165 million as the top shareholder. In the summer of 2007, Eberhard stepped down as CEO of Tesla Motors. In December 2007, he departed.
Following Eberhard’s departure, Michael Marks was appointed CEO. In October 2008, Elon became the company’s CEO. Eberhard sued Musk on May 26, 2009, accusing him of attempting to “rewrite history by falsely claiming that he was the founder or developer of Tesla Motors,” organizing his dismissal in 2007 and seizing control of the firm.
Jerry Yang (Yahoo)
The internet directory was launched in 1994 by Yang and his co-founder David Filo. During the 2000s, Yang benefited from Yahoo’s ascent, which saw the company’s market capitalization reach over $22 billion.
With Google’s supremacy, the company encountered upheaval, and Yang was chastised for rejecting a $44.6 billion bid from Microsoft to buy Yahoo. Yang had to resign from his job in 2009 due to this, as well as various changes in leadership. He served on the Yahoo Board of Directors until 2012 when he resigned.