Friday, March 16, 2012

Strange Wave of Massive Resignation Globally

By Nicholas Contompasis

The implementation of Dodd-Frank occurred on September 19th 2011. Now, if you notice this chart, which tracks resignations within the banking and financial industry, you’ll see a great surge of executives bailing out in the fourth quarter of 2011 and it continues into the first quarter 2012. This is no mystery if you understand the penalties and reporting requirements this new Act enforces.

The mass exodus hasn’t stopped and continues to gain momentum as these executives realize that if they don’t quit they could end up in jail. Further indications show they could go to jail, even though they’ve resigned, depending on their political influence. Example, will former MF Global chief executive and former Governor Jon Corzine go to jail for his stealing of over a billion dollars? Of course he won’t! But, many who worked for him will.
Many conspiracy theorists on the internet are pushing ideas that these people are resigning for more farfetched reasons. But, anyone that’s been following this new strict Act understand that the capital formation industry is now under attack by an Act that was basically adopted by American socialists in congress during their two year majority rein (2008-2010) in all three branches of the U.S. government.
The Dodd-Frank Act comically was named after the two individuals who were more responsible for the derailing of our capitalist economy than any other politicians besides former President Bill Clinton. The naming of the Act is now seen by many in the capital formation industry as a whitewashing of their own fraudulent and treasonous acts. You could say they were saving their own hides by pointing the finger at everybody else.
To now, threaten former executives for merely following the rules of the road during this unprecedented era of growth is laughable. To now, at this critical point of economic uncertainty throw a wet blanket over the industry that has created more jobs globally over the past sixty plus years is a direct attack on our American way of life and could result in dire consequences.  
But, it’s starting to happen and everybody’s disconnecting phones and leaving no forwarding address!!!

Taken from the Securities and Exchange Commission website -
“The Dodd-Frank Act
Background: Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act makes numerous changes to the registration and reporting and recordkeeping requirements of the Investment Advisers Act of 1940. Among these is the requirement that advisers to most private funds (hedge funds and private equity funds) register with the Commission. Historically, many of these advisers had been exempt from registration under the so-called “private adviser” exemption. The Dodd-Frank Act replaces this exemption with several narrower exemptions for advisers that advise exclusively venture capital funds and advisers solely to private fund with less than $150 million in assets under management in the United States. Foreign private advisers and advisers to licensed small business investment companies also are exempted.
The Dodd-Frank Act provides the Commission with the authority to collect data from registered investment advisers about their private funds for the purposes of the assessment of systemic risk by the Financial Stability Oversight Council. In addition, the Dodd-Frank Act modifies the allocation of responsibility for mid-sized advisers between state regulators and the Commission.
The definitional and transitional rules became effective on July 21, 2011. The implementing rules generally become effective on September 19, 2011.
On October 31, 2011, the SEC adopted rules (jointly with the CFTC for dually-registered advisers) requiring advisers to hedge funds and other private funds to report information for use in monitoring systemic financial risk.”


I urge you to read his work before preceding further in this thread. 
If true, a huge exodus of the top brass from the financial sector would mean.... well, I am not sure, but it sure seems important. Upon reading his work, there was always the nagging thought in the back of my mind that, "Maybe there aren't more resignations, it just seems that way because either (a) the media are reporting on them more frequently or (b) we are just paying more attention." This thought has been raised in each of his updates, but nobody seemed to be able to quantify what is a reasonable number of resignations. 
In the most recent update, I posted a comment, wherein I used the EBSCOhost Business Premier database to search for articles that contained the world "Resign". You can see my chart in Gab1159's thread, but saying that the results were inconclusive is being generous. 
Then I had an idea. The Securities Exchange Act of 1934 requires that publicly traded companies must report to the SEC whenever a member of the Board or certain officers resign. Also, the SEC has a database named EDGAR that is open to the public. After a little research, I discovered that corporations must report said resignations on Form 8-K, Item 5.02. From there, it was a simple matter of searching only Form 8-Ks within a specific range of dates, and including the boolean search terms "Resigns" and "Resignation". 
I felt this would at least offer us a baseline comparison to see if there is truly an uptick in resignations, or if it just appears that way. I think you will be interested in the results. 

A few details I should point out. One, these results are not broken down by industrial sector, but encompass all "SICs" or Standard Industrial Classifications. Also, when dealing with such a large number of results, EDGAR gives an approximation on the number of filings. For example, in 2Q 2008 there may have been 1786 filings, but it gives me 1800 as the approximate result. 
I must admit, when I started compiling the data, I did not believe I would find much. Possibly a slight upswing in the number of resignations, but I am simply blown away by the results.
The chart included does not cover the first quarter of 2012, yet the resignations continue. I have included those resignations and links to reputable news sources reporting the event. 

Start:This list chronicles all top level resignations since the start of 2012. 
Presented below are four categories:

Banking & Financing (includes insurance)
Government (includes public services)
Companies & Businesses

Info:While it’s not unusual for a top level executive/politician/industry leader to resign, it IS highly suspect when a great number of them are resigning at the same time. 
All taking place in a very short amount of time as well.
Also note how most of the resignations are taking place in the banking & financing world. 
Different sources are saying that these ‘mass resignations’ are indicative of a larger trend leading towards ‘mass arrests’ of criminal and corrupt elites which are soon to follow. 
For more detailed information on these occurrences, please head to the ‘about’ page. 
Note:The links are all shortened URLs, so just copy-paste the link into your browser bar in order to view them. If you’re using Chrome, you can select the entire string, right click and then choose ‘go to (URL name)’.
In the event that a news article has been removed from its page, please do let me know and I’ll replace that link with a new one. 
Credit:Much credit goes out to:
American Kabuki of for his many findings

Banking & Financing:3/13/12 (ABU DHABI) CEO of National Bank of Abu Dhabi Michael Tomalin to retire

3/13/12 (ISRAEL) Osem Investments Ltd. CEO Gazi Kaplan steps down

3/13/12 (USA) Eaton Vance CFO and treasurer Robert J. Whelan steps down

3/13/12 (UK) Chairman Mike Wooderson of Mithras Investment Trust to step down
3/13/12 (USA) President of PHH Mortgage Luke Hayden resigns

3/13/12 (USA) Company treasurer of PHH Mortgage Mark Johnson resigns

3/13/12 (AUSTRALIA) Westpac Group head of corporate affairs David Bell steps down

3/13/12 (UK) Head of systemic trading Qiang Dai to leave Capula Investment Management LLP

3/12/12 (USA) CME Group Inc. CEO Craig Donohue to step down at year end

3/12/12 (USA) CEO of the electronic broking business ICAP David Rutter step downs

3/12/12 (USA) Lehman Brothers Holdings Inc. CEO Bryan Marsal resigns title, remains on as Adviser**

3/12/12 (UK/IRELAND) Allfunds bank head of UK and Ireland Alan Gadd to step down

3/12/12 (USA) John Lewis Partnership Pension Trust, head of investments Andrew Chapman resigns

3/12/12 (KUWAIT) Gulf Bank chairman Ali Rashaid Al Bader to resign

3/12/12 (GERMANY) CVC Capital Partners co-founder Steve Koltes steps back

3/12/12 (USA) SVG Capital private equity veteran Nicholas Ferguson to retire

3/12/12 (USA) SVG Capital private equite veteran Edgar Koning to retire

3/12/12 (SOUTH AFRICA) DBSA CEO Paul Baloyi resigns

3/10/12 (TURKEY) Deputy CEO of Turkish lender Garanti Bank Tolga Egemen quits

3/09/12 (BERMUDA) MD of Vestar Capital Partners Sander Levy resigns from board

3/09/12 (AUSTRALIA) Bank of Queensland CFO Ram Kangatharan to leave the bank.

3/09/12 (USA) Cerberus Capital Management LP, CEO Robert Nardelli resigns, also from Freedom Group Inc.

3/09/12 (SOUTH AFRICA) African Bank Investments Ltd. company secretary Yashmita Mistry resigns

3/09/12 (UK) Deutsche Bank PWM, head of discretionary management, Kypros Charalambous steps down

3/09/12 (UK) Deutsche Bank PWM UK head Martyn Surguy quits

3/09/12 (UK) Alexis de Rosnay co-head of Lazard investment banking, quits

3/09/12 (HONG KONG) BofA Merrill Lynch debt capital market banker Leonard Ng resigns

3/09/12 (SOUTHEAST ASIA) BofA Merrill Lynch debt capital market banker Jimmy Choi resigns

3/09/12 (SOUTHEAST ASIA) BofA Merrill Lynch debt capital market banker K.J. Kim resigns

3/09/12 (NZ/AUSTRALIA) CEO of St George bank (subsidiary of Westpac) Rob Chapman leaves

3/09/12 (USA) REIT Corporate Office Properties Trust CEO Randall M. Griffin to leave

3/09/12 (MONGOLIA) Mongol Bank president Alag Batsukh resigned

3/08/12 (UK) Invesco Trimark Ltd. portfolio manager Dana Love resigns

3/08/12 (GERMANY) Clearstream Banking AG Katja Rosenkranz to leave Deutsche Börse Group

3/08/12 (USA) Bristol County Savings Bank president E. Dennis Kelly retires

3/08/12 (USA) CBOE executive Patrick Fay put on leave amid SEC probe

3/08/12 (USA) chief investment officer Alan Brown of Schroders steps down

3/07/12 (USA) Mark Astaire quits Bank of America Merrill and heads to Barclays Capital

3/07/12 (AUSTRALIA) CEO Tim Wildash of Australia’s largest ATM operator Customers Ltd, resigns

3/07/12 (FRANCE) head of Société Générale Private Banking Daniel Truchi to step down

3/07/12 (USA) Pascal Villiger, senior private equity portfolio manager at the $145 billion California State Teachers’ Retirement System resigns

3/07/12 (SINGAPORE) CEO Timothy McCarthy of Japan’s Nikko Asset Management steps down

3/07/12 (CHINA/GLOBAL) UBS senior Asia economist Jonathan Anderson quits

3/07/12 (GLOBAL) Goldman Sachs Group’s Phil Beatty resigns as head of European power trading

3/07/12 (PAKISTAN) Chairman Ali Raza of National Bank of Pakistan resigns

3/07/12 (DUBAI) Dubai’s DME CEO Thomas Leaver resigns

3/07/12 (UK) Goldman Sachs International senior executive Yoel Zaoui steps down

3/07/12 (UK) Goldman Sachs International senior executive Christopher French steps down

3/07/12 (UK) Goldman Sachs International senior executive David Wildermuth steps down

3/07/12 (UK) Goldman Sachs International senior executive Matthew Westerman steps down

3/06/12 (USA) USA Technologies’ Bradley Tirpak resigns from board

3/06/12 (USA) Director Philip Kanas of Sterling Green Group resigns 

3/06/12 (JAMAICA) Executive director Rohan Barnett of Jamaica’s Financial Services Commission (FSC) resigns

3/06/12 (JAMAICA) Executive director Patricia Sutherland of Jamaica Money Market Brokers (JMMB) resigns

3/06/12 (FRANCE) Blackstone Group’s Paris office leader Jean-Michel Steg to step down

3/05/12 (NEW ZEALAND) Chairman and director of Insured Group Bill Jeffries quits

3/05/12 (ETHIOPIA) Dashen Bank CEO Leulseged Teferi forced to retire, shocks many

3/05/12 (USA) Head of proprietary trading Mike Stewart leaves JP Morgan

3/05/12 (SPAIN) President Laura Gómiz of investment bank Invercaria resigns (Spanish link)

3/05/12 (UK) CEO of ASTL (Association of Short Term Lenders) Adrian Bloomfield quits

3/05/12 (USA) Reliance Bancshares chairman Patrick Gideon resigns

3/05/12 (UAE) Al Rajhi Bank CEO Abdullah bin Sulaiman Al Rajhi quits

3/05/12 (POLAND) GTC real-estate developer’s chairman Eli Alroy resigns

3/05/12 (UK) Jupiter fund co-manager John Hamilton steps down

3/05/12 (UK) Jupiter fund co-manager Tony Nutt steps down

3/05/12 (UK) Finance director of Lord Sugar’s private holding company Colin Sandy steps down

3/03/12 (AUSTRIA) Volksbank AG CEO Gerald Wenzel contract not to be extended

3/03/12 (USA) Wells Fargo & Co. board director Mackey McDonald retires

3/02/12 (HONG KONG) New Century Group Hong Kong Ltd Wilson Ng resigns

3/02/12 (USA) Deutsche Bank Student Loan CEO John Hupalo resigns

3/02/12 (CHINA) China Construction Bank Corp, the assistant general manager and head of corporate banking Mickey Mehta quits

3/02/12 (USA) Chairman of Citigroup Inc. Richard D. Parsons resigns

3/02/12 (BANGLADESH) 33 insurance directors simultaneously resigned from various top level posts

3/02/12 (UK) Lloyd’s international director Jose Ribeiro quits

3/02/12 (Southeast Asia) Deputy Managing Director Renzo Viegas resigns from RHB Bank

3/01/12 (USA) Florida Venture Forum (Venture Capital) Executive Director Robin Lester quits

3/01/12 (SINGAPORE) UBS Singapore’s head of business development James Tulley resigns

3/01/12 (USA) Piscataqua Savings Bank CEO Jay Gibson retires

3/01/12 (MALAYSIA) Elaf Bank chief executive Jamil El Jaroudi quits

3/01/12 (USA) PineBridge’s (global investment manager) Win Neuger steps down as CEO

3/01/12 (ITALY) Head of Italy’s banking association ABI Giuseppe Mussari resigns

3/01/12 (BOTSWANA) Barclays Bank of Botswana Managing Director Wilfred Mpai resigns

3/01/12 (INDONESIA) Head of Carlyle Group Southeast Asia Anand Balasubrahmanyan resigns

2/29/12 (CHINA) Citic Resources Chairman Mi Zengxin resigns×9c7

2/29/12 (AUSTRALIA) Perpetual Head of Equities Matt Williams steps down

2/29/12 (UK) Honister Capital CEO Richard Pearson steps down

2/28/12 (HONG KONG) Hang Seng Bank CEO Margaret Leung Ko May-yee quits

2/28/12 (CHINA) Bank of China International ECM global head Marshall Nicholson quits

2/28/12 (SINGAPORE) DBS security head Jim Pasqurell quits

2/28/12 (HONG KONG) Bank of America’s Asia-Pac. head of global markets Brian Canniffe resigns

2/28/12 (BELGIUM) KBC’s CEO Jan Vanhevel retires

2/28/12 (IRELAND) State Street Global Advisors Cash Funds plc director Keith Walsh resigns

2/28/12 (CANADA) Ontario Securities Commission chairwoman Peggy-Anne Brown quits

2/28/12 (SRI LANKA) Sri Lanka Com Bank CEO Amitha Gooneratne retires

2/28/12 (SOUTH AFRICA) Redifine Income Fund Director Gerald Leissner resigns

2/28/12 (ITALY) UniCredit Chairman Dieter Rampl not available for a new mandate

2/28/12 (UK) Bank of England Sir David Lees re-appointed Chair of Bank of England

2/27/12 (GERMANY) Deutsche Bank Americas chief Seth Waugh steps down

2/27/12 (BAHRAIN) Khaleeji Commercial Bank CEO Ebrahim Ebrahim quits

2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Michel Péretié steps down

2/27/12 (MALAYSIA) Elaf Bank CEO Jamil El Jaroudi resigns

2/27/12 (INDIA) Kotak Mahindra Bank managing director Falguni Nayar quits

2/27/12 (GERMANY) Equiduct chairman Artur Fischer steps down

2/27/12 (BAHRAIN) – Mumtalakat Holding [Sovereign Wealth Fund] CEO Al Zain resigns

2/27/12 (IRAN) Bank Melli CEO Mahmoud Reza Khaavari resigns – flees to Canada!

2/27/12 (IRAN) Bank Saderat CEO Mohammad Jahromi resigns

2/27/12 (UK) Lloyds Banking Group Glen Moreno steps down

2/25/12 (AUSTRALIA/NZ) Goldman Sachs Chairman Stephen Fitzgerald quits

2/24/12 (INDIA) ICICI Bank general counsel Pramod Rao resigns

2/24/12 (USA) CEO of Seattle Chamber of Commerce Phil Bussey resigns

2/24/12 (HONG KONG) Co-head Kwang Meng Quek of Citigroup Bank Global Real Estate resigns

2/24/12 (NEW ZEALAND) FSF Executive Director Kirk Hope resigns

2/24/12 (USA) Evercore Partners Head Eduardo Mestre steps down

2/24/12 (USA) Vice Chairman & Director of Apollo Global Henry Silverman resigns

2/23/12 (UK) Goldman Sachs partner Luca Ferrari retires×9twmv

2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank

2/23/12 (SCOTLAND) Royal Bank of Scotland Group director John McFarlane resigns.

2/22/12 (USA) Goldman Sachs Hedge Fund Group chief Howard Wietschner retires

2/22/12 (SWITZERLAND) The Six Swiss Exchange operating chief Urs Derendinger resigns

2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Selima Ahmad resigns

2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Musabbir Ahmad resigns

2/21/12 (BANGLADESH) Nitol Insurance Co. Ltd director Abdul Matlub resigns

2/21/12 (BANGLADESH) City General Insurance Co. Ltd director Geasuddin Ahmad resigns

2/21/12 (BANGLADESH) Social Islami Bank Limited director Taslima Akter resigns

2/21/12 (JAPAN) Citigroup Global Market’s CEO Brian Mccappin resigns (last article in list)

2/21/12 (ARGENTINA) Central Bank of Argentina (BCRA) General Manager Benigno Velez resigns

2/20/12 (USA) First Financial Northwest director Spencer Schneider quits

2/20/12 (RUSSIA) Head of Russian Bank Regulator Gennady Melikyan steps down

2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns

2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd. deputy CEO Zvi Itskovitch resigns

2/20/12 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorporation, Inc. and Seneca National Bank

2/18/12 (PAKISTAN) The Bank of Azad Jammu & Kashmir executive Zulfiqar Abbasi resigns

2/17/12 (USA) Goldman Sachs CEO Lloyd Blankfein steps down

2/17/12 (BULGARIA) NHIF director Neli Nesheva resigns

2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass resigns

2/16/12 (UK) The Financial Services Authority Margaret Cole is to step down

2/16/12 (GHANA) Databank Group executive chair Ken Ofori-Atta steps down

2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks managing director Geoffrey Calvert quits

2/16/12 (AUSTRALIA) ANZ Bank Australia CFO Peter Marriott resigns

2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns

2/15/12 (WORLD) World Bank CEO Zoellick resigns

2/15/12 (SLOVENIA) Nova Kreditna Banka Maribor CEO Andrej Plos resigns

2/15/12 (SLOVENIA) Nova Ljubljanska Banka d.d. CEO Bozo Jasovic resigns

2/15/12 (KENYA) Govenor of Kenyan Central Bank Njuguna Ndung’u
to Resign

2/14/12 (NICARAQUA) Nicaraqua Central Bank President Antenor Rosales resigns

2/14/12 (USA) North Carolina bank commissioner Joseph A. Smith Jr. resigns

2/14/12 (UK) Social finance pioneer Malcolm Hayday quits Charity Bank

2/13/12 (KUWAIT) Kuwait Central Bank CEO Sheikh Salem Abdulaziz Al Sabbah resigns

2/12/12 (KENYA) Renaissance Capital Chief Executive Patrick Mweheire resigns

2/10/12 (KOREA) Korea Exchange Bank chief Larry Klane steps down

2/10/12 (INDIA) Tamilnad Mercantile Bank CEO A K Jagannathan resigns

2/09/12 (UKRAINE) National Bank of Ukraine deputy governor Volodymyr Krotiuk quits

2/07/12 (USA) Bank Of America’s Mortgage Business Chief Barbara Desoer retires

2/07/12 (INDIA) Kotak Mahindra Bank Falguni Nayar quits

2/06/12 (AUSTRALIA) CEO Chris Ryan of Australian fund manager Perpetual resigns

2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:

2/05/12 (USA) Morgan’s investment banking chairman Joseph Perella quits

2/05/12 (USA) Morgan Stanley investment banking Tarek Abdel-Meguid quits

2/01/12 (SOUTH AFRICA) ABSA [Barclay’s Bank] deputy CEO Louis von Zeuner resigns

2/01/12 (UK) Llyods Banking Group Tim Tookey leaving end of February

1/30/12 (UK) Butterfield Private Bank head Danny Dixon steps down

1/29/12 (PORTUGAL) Banco Santander chairman Nuno Amado resigns

1/29/12 (NEW ZEALAND) New Zealand Reserve Bank governor Alan Bollard to step down

1/25/12 (USA) Fortress CEO Daniel Mudd quits amid lawsuit

1/21/12 (GREECE) Institute of International Finance negotiator Charles Dallara quits

1/21/12 (GREECE) Institute of International Finance negotiator Jean Lemierre quits

1/20/12 (JAPAN) Normura’s head of wholesale banking Jasjit Bhattai quits

1/19/12 (SPAIN) Spanish bank Santander’s Americas chief Francisco Luzon quits

1/12/12 (UK) Lloyds’ head of wholesale Truett Tate quits

1/11/12 (INDIA) More directors of the Beed district bank resign

1/10/12 (USA) Managing director at Morgan Stanley Ed Marhefka resigns

1/09/12 (SWITZERLAND) SNB chairman Philipp Hildebrand resigns

1/05/12 (UK) Saunderson House CEO Nick Fletcher steps down

1/04/12 (USA) President and CEO of PHH Corp. (mortgage) resigns (referral link)

1/03/12 (USA) Suffolk Bancorp president & CEO J. Gordon Huszagh steps down

1/03/12 (UK) Arbuthnot Banking Group: Neil Kirton resigned from the Board

1/03/12 (UK) Arbuthnot Banking Group: Atholl Turrell left the Board.

1/01/12 (NIGERIA) United Bank for Africa Plc Victor Osadolor resigns

1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Galia Maor steps down

Governments:3/13/12 (PORTUGAL) Secretary of State for Energy Henrique Gomes resigns

3/13/12 (USA) University of California, Berkeley chancellor Robert J. Birgeneau to retire end of the year

3/13/12 (USA) Minnesota State Senator Chris Gerlach to retire

3/13/12 (USA) Veteran New York state lawmaker Daniel J. Burling to retire

3/12/12 (USA) Commissioner William S. Haraf of California’s Department of Financial Institutions resigns

3/12/12 (SLOVAKIA) former Prime Minister Mikulas Dzurinda quits as party chief

3/12/12 (USA) FBI executive assistand director Shawn Henry steps down

3/12/12 (INDIA) Health Minister Rajeev Bindal resigns from Dhumal cabinet

3/11/12 (MALAYSIA) Minister Shahrizat Abdul Jalil steps down amid ‘Cowgate’ scandal

3/11/12 (UK) Bill of rights commissioner Michael Pinto-Duschinsky resigns

3/11/12 (SINGAPORE) SAF Chief Guards Officer colonel Nelson Yau Thian Hock abruptly resigns

3/11/12 (GREECE) Greek socialist leader George Papandreou steps down

3/10/12 (USA) Chicago Crime Commission Chief Jody Weis resigns

3/09/12 (BULGARIA) Chief of staff of Bulgarian social policy minister Totyu Mladenov resigns

3/09/12 (USA) Weber State University pres. F. Ann Millner to step down×878jw

3/09/12 (SOUTH KOREA) Secretary General of main opposition Democratic United Party Im Jong-seok resigns

3/09/12 (USA) South Carolina Lt. Gov. Kenneth Ard resigns amid probe

3/09/12 (USA) Rep. Jimmy Naifeh retires from House of Representatives

3/09/12 (USA) State Rep. and former Kirkland mayor Deb Eddy retires

3/09/12 (MALAYSIA) Chairman of Securities Commission Malaysia Tan Sri Zarinah Anwar retires

3/09/12 (N. IRELAND) Ulster Unionist Party leader Tom Elliot quits

3/09/12 (INDIA) MLA R. Selvaraj resigns from assembly and Party District Committee

3/08/12 (CANADA) Nunatsiavut Minister of Education and Economic Dev. Susan Nochasak resigns

3/08/12 (NORWAY) Chief of ministry of family and equality issues Harald Nyboen resigns

3/08/12 (IVORY COAST) Ivory Coast’s prime minister Guillaume Soro and his cabinet resigns

3/08/12 (USA) Chuck Hassebrook main primary opponent in U.S. Senate – abruptly quits

3/08/12 (USA) Democrat David Pollock quits Ventura County House race

3/07/12 (INDIA) Cabinet Secretary Shashank Shekhar Singh takes premature retirement

3/07/12 (ARGENTINA) Transport Secretary Juan Pablo Schiavi resigns

3/07/12 (INDIA) Uttarakhand chief minister B C Khanduri resigns

3/07/12 (USA) Democratic State Rep. Deb Eddy to retire

3/06/12 (CANADA) MLA Hector Goudreau resigns as Alberta’s head of policy committee

3/06/12 (LIBERIA) Liberia’s main opposition leader Winston Tubman retires from politics

3/06/12 (INDIA) Digambar Kamat resigns as chief minister of Goa

3/06/12 (AUSTRALIA) Magistrate Grant Lalor quits the ACT Magistrates Court

3/06/12 (AUSTRALIA) LNP branch president George Andrew resigns

3/06/12 (CONGO) Entire government of Democratic Republic of Congo headed by Adolphe Muzito resigns

3/06/12 (INDIA) Senior Congress MLA Tarvinder Singh Marwah resigns as Parliamentary Secretary to Chief Minister Sheila Dikshit

3/05/12 (USA) Minnesota senator Geoff Michel quits

3/05/12 (USA) Utah House minority leader David Litvack quits

3/05/12 (NORWAY) Minister Audun Lysbakken resigns

3/05/12 (U.K) Conservative MP Mark Pritchard quits as deputy chairman

3/04/12 (TAIWAN) Top Taiwan agricultural official Hsu Tien-lai quits over allegations of bird flu cover-up

3/03/12 (COLOMBIA) Chief prosecutor Vivianne Morales resigns

3/03/12 (ETHIOPIA) General Bacha Debele Combat Engineering head at Ministry of Defence on forced leave

3/03/12 (USA) Majority Leader Cantor’s aide Brad Dayspring departs unexpectedly

3/02/12 (USA) U.S. House Democratic Rep. Norm Dicks quits

3/02/12 (USA) United States Senate’s Olympia Snowe quits

3/02/12 (USA) South Carolina State University President George Cooper resigns

3/02/12 (UK) Labour MP Eric Joyce to step down

3/02/12 (JAPAN) Nuclear Safety Commission chairman Haruki Madarame to step down

3/02/12 (CANADA) Alberta Chief of staff Stephen Carter steps down

3/02/12 (USA) Monmouth University president Paul Gaffney II to retire

3/01/12 (IRELAND) Éamon Ó Cuív deputy leader of Fianna Fáil resigns

3/01/12 (CANADA) B.C. Liberal director Tariq Ghuman resigns

3/01/12 (UK) Labour MP Marsha Singh steps down

3/01/12 (UK) British politician Baroness Jenny Tonge resigns

2/29/12 (LESOTHO) Prime Minister Pakalitha Mosisili resigns

2/29/12 (PUERTO RICO) Major Puerto Rican politician Hector Ferrer resigns

2/28/12 (THAILAND) PM’s Secretary General Bantoon Supakvanit resigns

2/27/12 (SWITZERLAND) Geneva State Councilor Mark Muller resigns

2/27/12 (AUSTRALIA) Senator Mark Arbib resigns 

2/26/12 (USA) Georgia Democratic party chief of staff Page Gleason resigns

2/24/12 (HAITI) Haitian Prime Minister Garry Conille resigns 

2/24/12 (HONDURAS) Honduran Cabinet Minister resigns – third in two weeks 

2/24/12 (GHANA) Education Minister Betty Mould-Iddrisu resigns

2/23/12 (AUSTRALIA) Foreign Affairs Minister Kevin Rudd resigns from Cabinet 

2/23/12 (UK) Chief Executive of CQC Cynthia Bower resigns 

2/23/12 (KENYA) PNU Secretary General Kiraitu Murungi resigns 

2/22/12 (INDIA) Kripashankar Singh resigns as Mumbai Congress chief

2/22/12 (ISRAEL) PM’s top media advisor Yoaz Hendel resigns 

2/22/12 (USA) Idaho GOP senator John McGee resigns

2/22/12 (LEBANON) Labor Minister Charbel Nahhas resigns 

2/20/12 (GERMANY) German President Christian Wulff resigns 

2/20/12 (NETHERLANDS) Dutch Opposition Leader Job Cohen resigns 

2/17/12 (UGANDA) Gender Minister Syda Bbumba resigns over corruption scandal

2/17/12 (UGANDA) Gender Minister Khiddu Makubuya resigns over corruption scandal

2/16/12 (USA) MCSE director Dan Doyle resigns under scrutiny

2/06/12 (ROMANIA) Romanian prime minister and cabinet resign en masse 

2/03/12 (UK) British Energy Secretary Chris Huhne resigns 

2/02/12 (BRAZIL) Brazil Cities Minister Mario Negromonte resigns

1/30/12 (USA) New Jersey commissioner Thomas Considine steps down

1/18/12 (PERU) Vice President Omar Chehade resigns amid corruption charges

1/18/12 (UKRAINE) Finance Minister Fedir Yaroshenko resigns

1/09/12 (USA) White House Chief of Staff Bill Daley resigns

Companies & Businesses:3/13/12 (RUSSIA) Billionaire Viktor Vekselberg resigns as chairman of aluminium giant Rusal

3/13/12 (CHINA) President Li Yong of leading internet company Netease resigns

3/13/12 (DENMARK) Group EVP of FLSmidth & Co. Christian Jepsen to resign

3/13/12 (UK) CEO Philip Whiteman of UK’s leading sector skills council Semta to retire

3/13/12 (USA) Tech chief of Cablevision Jim Blackley to exit

3/13/12 (USA) President/CEO Paul Aiello of Infrax Systems Inc. (energy) steps down

3/13/12 (GERMANY) Pfleiderer AG board member Hans Theodor Pfleiderer steps down

3/13/12 (UK) VP of international marketing at Starbucks Brian Waring to leave

3/13/12 (AUSTRALIA) Sensis CEO Bruce Akhurst resigns

3/13/12 (SOUTH AFRICA) CEO of 1Time Airline Rodney James resigns

3/13/12 (GERMANY) Chief executive of Empresaria’s German subsidiary Klaus Wrezounik steps down

3/13/12 (UK) Director of National Express (transport) Miranda Curtis steps down

3/12/12 (USA) Silicon Laboratories CEO Necip Sayiner to exit×473bz

3/12/12 (USA) EVP at Telepictures (Warner Bros.) Lisa Hackner resigns

3/12/12 (BRAZIL) President of Brazilian Football Confederation Ricardo Teixeira resigns over corruption charges

3/12/12 (AFRICA) Chairman Phil Edmonds resigns at Africa Medical Investments

3/12/12 (DENMARK) DONG Energy (oil & gas) CEO Anders Eldrup steps down

3/12/12 (UK) Non-exec director of Verder Management Richard Phillips resigns

3/12/12 (USA) New Regency (film) COO/CFO Louis Santor resigns

3/12/12 (AUSTRIA) Wolford AG CFO Peter Simma to step down

3/12/12 (USA) President and CEO of Federal-Mogul Jose Maria Alapont to retire

3/12/12 (CROATIA) Non-exec director of Cubus Lux (tourism & development) Christian Kaiser resigns

3/12/12 (CROATIA) Non-exec director of Cubus Lux (tourism & development) Eli Abramovich resigns

3/12/12 (USA) CSO Frederic Randall of United Online Inc. resigns

3/12/12 (USA) Chief technology officer Robert Stephens leaves Best Buy

3/12/12 (AUSTRALIA) CEO of media company PHD Barry O’Brien exits

3/12/12 (UK) CEO of Daily Bread (a subsidiary of Britannia Industries) Kaushik Roy quits

3/12/12 (PHILLIPINES) Director of Alaska Milk Corp. Michael Randall Utyengsu resigns

3/12/12 (PHILLIPINES) Director of Alaska Milk Corp. Ramon Esguerra resigns

3/11/12 (USA) Crystal Cathedral fouder Rev. Robert H. Schuller and wife Arvella resign from megachurch board

3/10/12 (USA) Heron Lake BioEnergy CEO Bob Ferguson to retire

3/09/12 (USA) SVP of sales and marketing Bruce R. Bower resigns from Implant Sciences

3/09/12 (USA) Former CEO of Diamond Foods Inc. Michael J. Mendes quits

3/09/12 (USA) Former CFO of Diamond Foods Inc. Steven M. Neil quits

3/09/12 (USA) Media group Time Inc’s CMO Stephanie George resigns

3/09/12 (USA) Media group Time Inc’s EVP of consumer marketing and sales Steve Sachs resigns

3/09/12 (FRANCE) Areva’s head of mining Sebastien de Montessus resigns

3/09/12 (NETHERLANDS) T-Mobile Netherlands CFO Hans van Leeuwen resigns

3/09/12 (NETHERLANDS) T-Mobile Netherlands marketing director Henrik Kasteel resigns

3/09/12 (USA) EVP of Allegheny Technologies David Hogan to retire

3/09/12 (Not Specified) Shipping group Goldenport CEO Christos Varsos resigns

3/09/12 (USA) Editor-in-chief of Billboard (Prometheus Global Media) Danyel Smith resigns

3/09/12 (USA) Deputy editor of Billboard (former Forbes media writer) Lou Hau resigns

3/09/12 (USA) Publisher at Billboard Lisa Ryan Howard resigns

3/08/12 (USA) Cablevision marketing EVP Jonathan Hargis resigns

3/08/12 (USA) CEO of Medi-Cal Ventura County Earl Greenia unexpectedly resigns

3/08/12 (USA) EVP of Pandora Jessica Steel to exit

3/08/12 (HONG KONG) Hysan Development CEO Gerry Yim resigns

3/08/12 (USA) Tom Goodman to retire as senior VP and COO of HudBay Minerals Inc.

3/08/12 (USA) Chief executive and director Richard Balfour-Lynn of MWB Group (property developer and investor) resigns×3n5nk

3/07/12 (USA) EnviroLogix president and CEO Bruce Ferguson to retire

3/07/12 (GLOBAL) CANSO director General Graham Lake steps down

3/07/12 (USA) Executive director of Texas Railroad Commission (oil & gas) John Tintera resigns 

3/07/12 (THAILAND) President of the TCEB Akapol Sorasuchart resigns

3/07/12 (INDIA) News director of P7 News channel Satish Jacob resigns

3/07/12 (AUSTRALIA) Property tycoon Kevin Seymour resigns as chairman of Watpac

3/07/12 (CHINA) 8Telecom’s CFO Li Jianguo resigns

3/07/12 (AFRICA) CEO Peter Kingston of Tower Resources (oil & gas) steps down

3/07/12 (AUSTRALIA) Kagara (mining) board member Kim Robinson steps down

3/07/12 (CHILE) Antofagasta PLC (mining) CEO Marcelo Awad resigns

3/07/12 (CANADA) Sean O’Brien president of W.W. Grainger Inc’s Canadian subsidiary resigns

3/07/12 (NEW ZEALAND) ZESPRI board member Ray Sharp resigns

3/06/12 (USA) Priority Health CEO Kim Horn resigns

3/06/12 (USA) Parker Drilling Co. CEO David Mannon resigns

3/06/12 (USA) Director of ISS National Lab Nonprofit Jeanne Becker resigns

3/06/12 (GUYANA) Operational head of the OLPF project Sesh Sukhdeo resigns

3/06/12 (UK) Chairman Colin Maclean of Royal Berkshire NHS Foundation Trust steps down

3/06/12 (Not Specified) Head of Yahoo! Labs Prabhakar Raghavan quits

3/06/12 (RUSSIA) CEO Rustem Mirgalimov of OAO Razgulay Group resigns

3/06/12 (RUSSIA) Integra Group chief executive Antonio Campo steps down

3/06/12 (RUSSIA) CEO Konstantin Sobolevskiy of High River Gold Mines Ltd resigns

3/06/12 (THAILAND) Nation Multimedia Group (NMG) chairman Thanachai Theerapatvong resigns

3/06/12 (USA) Director Philip Kanas of Sterling Green Group resigns

3/05/12 (SRI LANKA) Chairman of Godrej & Boyce Jamshyd Godrej steps down from Haldia Petrochemicals Ltd.

3/05/12 (CANADA) Patrick Daniel president and CEO of Canadian energy company Enbridge Inc. to retire

3/05/12 (USA) Foursquare co-founder Naveen Selvadurai resigns×6c7v2

3/05/12 (INDIA) CEO of Madison Media Punitha Arumugam quits

3/05/12 (Not Specified) Senior VP and CFO of Pinnacle Airlines Corp. Ted Christie resigns

3/03/12 (USA) Robert Van Antwerp Jr. resigns from Micheal Baker Corporation board

3/02/12 (AUSTRIA) Andreas Bierwirth to leave executive board of Austrian Airlines

3/02/12 (SOUTH AFRICA) COO Debbie Zwane-Chikura of Gijima resigns×55q

3/02/12 (USA) President Robert Silverman of 1-800-GET-THIN marketing firm resigns

3/02/12 (CANADA) Director Javier Durand of Zincore Metals Inc. resigns

3/02/12 (UK) Alan Qualtrough editor of Western Morning News quits

3/02/12 (USA) NQF president Janet Corrigan resigns

3/02/12 (ZIMBABWE) CEO Joe Mutizwa of Delta Corp resigns

3/02/12 (AUSTRALIA) STI Lilyfield managing director Ian Kingham resigns

3/01/12 (USA) CEO Ron Bliwas of DRTV company A. Eicoff & Co. resigns

3/01/12 (CANADA) Chairman of Nutrition North Advisory Board Elizabeth Copeland steps down

3/01/12 (USA) Silicon Labs CEO Necip Sayiner to step down

3/01/12 (USA) Senior vice president & CFO of Blue Dolphin Energy Company (oil), Thomas McReynolds Jr. resigns

3/01/12 (USA) CFO Jeremy Hemann of YTB International Inc. resigns

3/01/12 (USA) Director Angelo Viard of Morgan Creek Energy Corp (oil) resigns

3/01/12 (GLOBAL) Initiative CEO Richard Beaven resigns

3/01/12 (Not Specified) VIASAT Board Member Micheal Targoff resigns

3/01/12 (SPAIN) Chairman Petra Mateos Aparicio of satellite operator Hispasat resigns

3/01/12 (BRAZIL) CEO Ronaldo Labrudi dos Santos Pereira of Magnesita Refratários resigns

3/01/12 (USA) Bioethicist Glenn McGee resigns from Celltex Therapeutics and American Journal of Bioethics

2/29/12 (UK) James Murdoch Executive Chairman of News International, steps down

2/29/12 (USA) President Roy MacLaren of tobacco giant Villiger-Stokkebye resigns

2/29/12 (INDIA) Varun Berry CEO of PepsiCo India Foods resigns

2/29/12 (KENYA) Chief Executive of Ogilvy Kenya Koome Mwambia resigns

2/29/12 (MEXICO) CEO & President of Ruiz Foods Bryce Ruiz resigns

2/29/12 (USA) President Kenneth Glover of Dimensions Healthcare System quits

2/29/12 (CHINA) New World China Land Chairman & Executive Director Cheng Yu-Tung resigns

2/29/12 (CHINA) New World China Land director Chow Kwai-cheung resigns

2/28/12 (Not Specified) Nam Tai Electronics CEO Yeoh Teck Hooi resigns

2/28/12 (ESTONIA) Skype’s manager Sten Tamkivi resigns

2/28/12 (USA) Mark LaNeve, marketing chief at Allstate, resigns

2/28/12 (Not Specified) Sanjiv Ahuja, CEO and founder of LightSquared resigns

2/28/12 (USA) President & CEO of Republic Companies Parker W. Rush resigns

2/28/12 (Not Specified) Legacy Reserves LP CFO Steven Pruett resigns

2/28/12 (USA) AOL Chief Technology Officer Alexander Gounares resigns

-> Entire Olympus board resigns (14)  –  List:

2/27/12 (JAPAN) Olympus representative director Shuichi Takayama resigns

2/27/12 (JAPAN) Olympus director Haruhito Morishima resigns

2/27/12 (JAPAN) Olympus director Masataka Suzuki resigns

2/27/12 (JAPAN) Olympus director Kazuhisa Yanagisawa resigns

2/27/12 (JAPAN) Olympus director Takashi Tsukaya resigns

2/27/12 (JAPAN) Olympus director Kazuhiro Watanabe resigns

2/27/12 (JAPAN) Olympus director Shinichi Nishigaki resigns

2/27/12 (JAPAN) Olympus director Hironobu Kawamata resigns

2/27/12 (JAPAN) Olympus director Yasuo Hayashida resigns

2/27/12 (JAPAN) Olympus director Hiroshi Kuruma resigns

2/27/12 (JAPAN) Olympus director Junichi Hayashi resigns

2/27/12 (JAPAN) Olympus corporate author Tadao Imai resigns

2/27/12 (JAPAN) Olympus corporate author Jakoto Shimada resigns

2/27/12 (JAPAN) Olympus corporate author Yasuo Nakamura resigns

2/27/12 (USA) Director of Icahn Enterprises Vincent J. Intrieri resigns]

2/25/12 (USA) Fortune 500 company Harsco CEO Salvatore Fazzolari resigns 

2/23/12 (UK) A4e chairman/founder Emma Harrison resigns, corruption allegations 

2/23/12 (NORTHERN IRELAND) UTV chairman John McGuckian and two others resign as directors 

2/23/12 (AUSTRALIA/NZ) APN company director Pierce Cody resigns 

2/23/12 (MALAYSIA) Berjaya Corp. chairman Tan Sri Vincent Tan quits

2/22/12 (USA) President of Paramount Animation (film) David Stainton resigns

2/22/12 (USA) Johnson & Johnson CEO William Weldon resigns 

2/22/12 (USA) Andarko Petroleum Corp. CEO Jim Hackett resigns 

2/22/12 (SOUTH AFRICA) Auction Alliance boss Rael Levitt resigns 

2/22/12 (INDIA) President Pavan Varshnei quits ABP Group 

2/13/12 (USA) CFO of pharmaceutical company AmerisourceBergen, Michael DiCandilo unexpectedly resigns

2/09/12 (CHINA) CEO Huang Zhong Xuan resigns from China Sky Chemical Fibre

2/01/12 (JAPAN) Sony Corp’s CEO Howard Stringer to be replaced

1/25/12 (USA) President and COO of Starz Entertainment and Starz Media Bill Myers suddenly resigns

1/20/12 (USA) Sam’s Club CEO Brian Cornell resigns

1/18/12 (USA) Yahoo co-founder Jerry Yang resigns

1/11/12 (USA) Draftfcb chief growth officer Nick Paul resigns

1/06/12 (SINGAPORE) President and CEO of SMRT Group Saw Phaik Hwa resigns

Arrests & Investigations:3/13/12 (EUROPE) Senior salesman Nicholas Kyprios at Credit Suisse fined 210,000 pounds by the FSA

3/13/12 (UK) Ex-Murdoch aide Rebekah Brooks re-arrested along with her husband and four others

3/12/12 (USA) Banks’ lawyer accuses MBIA chief of insider trading

3/11/12 (INDIA) Former Maharashtra minister Suresh Jain arrested in housing scam

3/11/12 (UK) Businessman Kautilya Pruthi held for mega fraud

3/10/12 (CHINA) CAD arrests former independent director of China Sky in ongoing investigation

3/09/12 (NIGERIA) Task force chairman embezzles N21 billion – to be arrested

3/09/12 (USA) South Carolina governor Ken Ard indicted on seven counts

3/08/12 (USA) Former bank manager Pamela Kay Cobb accused of fraud

3/08/12 (BULGARIA) Bulgarian judge sues interior minister Tsvetan Tsvetanov for Libel

3/08/12 (UK) Former CEO of Rupert Murdoch’s British newspaper operation Rebekah Brooks arrested


3/07/12 (INDONESIA) Ex-Citigroup Indonesia banker Inong Malinda Dee sentenced to 8 years in prison for client theft

3/06/12 (USA) Billionaire R. Allen Stanford convicted in $7 Billion investment fraud scheme

3/06/12 (Not Specified) Ex-Porsche CFO Holger Haerter charged with fraud

3/06/12 (USA) Biden campaign donor Christopher Tigani sentenced to two years in prison for campaign funding, tax crimes

3/05/12 (USA) FDA chemist Cheng Yi Liang sentenced for 5 years in prison for insider trading

3/04/12 (INDIA) CID Crime arrests CEO and MD in Gujarat bank fraud case

3/02/12 (USA) Senior Morgan Stanley investment banker William Jennings arrested

3/02/12 (JAPAN) NTT East president Toshiyuki Takeuchi arrested alongside employee

3/01/12 (USA) Former CEO of MUS Dunard Morris indicted for embezzlement & fraud

3/01/12 (HONG KONG) Hong Kong’s chief executive Donald Tsang faces corruption probe

3/01/12 (SOUTH KOREA) Financial chief Kim Seung-yu of Hana Financial Group faces probe

3/01/12 (UK) Defence editor of Sun Newspaper Virginia Wheeler arrested over corruption claims

3/01/12 (SUDAN) Arrest warrant for defence minister Abdel-Rahim Mohamed Hussein

3/01/12 (UK) FSA arrests three in insider dealing investigation

Ongoing (JAPAN) Olympus scandal involves 7 arrests of various CEO’s and top executives

2/29/12 (USA) Banks may face charges from SEC (U.S. Securities and Exchange Commission)

2/28/12 (USA) U.S. Justice department conducting criminal probe of world’s biggest banks

2/28/12 (AUSTRALIA) Bank manager Colin John Carleton jailed nine years for $3m theft

2/27/12 (NIGERIA/UK) Former governor of Delta State (oil) James Ibori pleads guilty

2/24/12 (NEW ZEALAND) 4 Lombard directors found guilty of Securities Act charges

2/17/12 (CHINA) China Sky Chemical Fibre under police investigation

2/16/12 (UK) Royal Bank of Scotland senior equities trader Jason Edinburgh arrested

2/16/12 (UK) Royal Bank of Scotland director equities bus. Vincent Walsh arrested

2/16/12 (UK) Marex Spectron senior trader Michael Elsom arrested

2/15/12 (UNITED KINGDOM) Hedge fund boss whose explosive emails finally caught up with him

2/09/12 (USA) Rep. Spencer Bachus faces insider-trading investigation

2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal

2/02/12 (VENEZUELA) Banking Crisis: Arne Chacon arrested for Banking Corruption 


tojoflaherty said...

They are getting their personal lives in order for TEOTWAWKI 2012?

tojoflaherty said...

They are getting their personal lives in order for TEOTWAWKI 2012?

Annie Gaddis said...

Could any of this have to do with Sharia Law?


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