I am also of the view that when a long term CEO like Michael...

I am also of the view that when a long term CEO like Michael suddenly up and retires even though he is not overly old by the modern standard, indicates bankruptcy is not to far away. I think Michael wanted to get out while the going is good (no actually when it’s bad but not worse) rather than be behind the wheel when the thing goes over the cliff.

Let’s face it, we won’t be getting anybody good as CEO. Why? An established CEO won’t take it on. Even somebody who want to be a first time CEO won’t want to drive it over the cliff on their debut. An internal candidate? Not on your life, they will be pulling the ejection handle soon anyway.