When a CEO abruptly quits...

As a shareholder nation, we're cynical enough--as we should be--to raise our eyebrows when a CEO abruptly steps down. Recall Jeff Skilling's surprise departure from Enron way back when. So when Tyson Foods CEO Dick Bond said he was leaving the big meat producer, effective immediately, shocked investors tanked the stock.

Financial Week quoted one expert saying, "When there is that kind of abrupt change, that tells me that maybe something else is going on." This is a situation that all boards should seek to avoid. He was under a bit of pressure because the entire food industry was struggling. He had repeatedly rebuffed calls by analysts to slash production. Sarbanes-Oxley requires that he sign off on all earnings. While some think food industry is improving, maybe he looked into the future and saw that he might not want to sign off. Who knows?

For more:
- here's the Financial Week article