Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
October 20, 2022: -A leading manager at Kakao Corp., the operator of South Korea’s ultimate mobile page, KakaoTalk, will resign. His resignation comes following a fire at a data center due to a mass outage over the weekend and coming in between its messenger’s 53 million users worldwide.
Co-CEO Namkoong When apologized after the outage and said he would leave.
“I feel the heavy burden of responsibility more than this incident and will step down from my place as CEO and lead the emergency disaster task force witnessing the aftermath of the incident,” Namkoong added at a press conference at the office in the outskirts of Seoul.
“We will do our best to restore our users’ faith in Kakao and make sure incidents such as these never occur again,” he added.
Namkoong is appointing a CEO in March, according to the company’s website. Kakao reported 47.5 million active users in South Korea in the second quarter. That’s over 90% of South Korea’s population of 51.74 million people as of November 1, 2021.
Hong Eun-take, who led the company alongside Namkoong as co-CEO, will remain the sole authority of the company, according to the company’s filing.
“We sincerely feel guilty to all those that own suffered from the disruptions during the outage,” Hong stated as he turned alongside Namkoong.
Shares of the company are trading 4% higher in South Korea’s session after the press conference.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
In the fast-paced business world, corporate leaders often find themselves at the crossroads of risk and reward, where bold decisions …
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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