Shocking CEO downfalls

Published On: Mar 01 2013 12:16:03 PM CST   Updated On: Jun 19 2014 07:45:12 AM CDT

American Apparel's controversial founder and CEO is the latest to make a shocking departure.

CEO Downfalls - Citigroup
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Vikram Pandit (Citigroup) -- He was forced out of Citigroup in October 2012 by new chairman Michael O'Neill despite strong earnings. According to The New York Times, O'Neill told Pandit he had readied three news releases -- one that said he had resigned immediately, one that said he would resign at the year's end and a third saying he had been fired without cause. O'Neill reportedly told Pandit the board had lost confidence in him, and the choice was his.

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