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A number of posters as well as JCrap expressed their surprise and concern about CEO's immediate resignation without reason.

I have seen at least two people in my career who have left in similar fashion - both incidents involved a significant damage to the reputation of the person.

The way it works is that the company wants to dismiss a worker but in a dismissal that would need to provide the reason why, in addition the worker would need to disclose to the next employer about the dismissal.

It may be in the best interest of both parties to opt for immediate resignation without reason, the company gives a letter of resignation to the worked and asks the person to sign it and out the door they go.

In other cases CEOs are ousted with immediate notice by the board usually while they are away because, if terminated, they are paid salary till the end of the contract term, while they would not be paid had they resigned. An example of this type was several years ago with a CEO of one of the best known telco corporations.