The Impact of CEO Departures on Share Prices: A 'Succession' Twist.
TL;DR Summary
The death of a CEO can cause huge share price swings when they depart, as seen in the fictional media conglomerate Waystar Royco in HBO's "Succession." Real-life precedent includes Apple's Steve Jobs, whose announcement of indefinite medical leave in 2011 caused shares to fall as much as 6%, wiping tens of billions off the company's valuation. However, there have also been examples of a share price rally following the death of a CEO, as investors see it as a company decoupling from a deadweight boss.
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