Note to C-suite execs: Squeezing every last incremental dollar of profit for your shareholders can be a recipe for disaster that ends in your unceremonious departure. John Riccitiello found that out the hard way when he "retired" with immediate effect as chairman and CEO of a stock-listed company called Unity Technologies after spotting what he thought was a golden opportunity to make bank off his paying customers.
His explosive change in prices last month unleashed a torrent of f-bomb-spiked criticism from clients, many of whom were sent fleeing into the all-too-welcoming arms of Unity’s rivals. It marks a cautionary tale of how to shatter years spent building up trust and goodwill essentially overnight.
