Top Corporate Blunders of 2023
Here's our City desk’s rundown of the top 15 corporate missteps in 2023:
1. Judge Dismisses Dyson’s Case
James Dyson, known for supporting Brexit, was upset by media reports about moving his company to Singapore. He sued the Mirror for libel, but the judge ruled the article was an honest opinion.
2. BP’s Bernard Looney Exits
Outgoing CEO Bernard Looney of BP lost his bonus over undisclosed workplace relationships.
3. Marston’s Controversial Property Sale
Marston’s pub company sold an iconic tilted pub, the Crooked House, which later burned down under suspicious circumstances.
4. Tesco Recalls Moth-Contaminated Stuffing
Tesco had to recall a festive stuffing mix found to possibly contain moths.
5. Central Banker’s Regrettable Comment
Bank of England’s lead economist Huw Pill faced backlash for candidly speaking about British economic hardships.
6. CAB Payments IPO Tanks
CAB Payments’ stock plummeted by 73% following a profit warning, earning Bloomberg’s "worst IPO of the year" title.
7. Fake $1B Investment Statement Rocks LSE
A false press release about a $1 billion investment in ChatGPT’s OpenAI briefly appeared on the LSE website.
8. Rachel Reeves’ Plagiarism Faux Pas
Labour’s Rachel Reeves faced criticism for her book passages lifted from Wikipedia.
9. EG Finco’s £500 Billion Accounting Error
The Issa brothers’ company mistakenly reported a €591 billion loan in its accounts.
10. Web Summit CEO Apologizes and Resigns
CEO Paddy Cosgrave stepped down from Web Summit after retracting controversial statements about Israel.
11. Entain’s CEO Departs Amid Criticism
Jette Nygaard-Andersen left Entain after utilizing the company’s private jet excessively.
12. Amigo’s Failed Business Pivot
Bankrupt lender Amigo attempted to transform into a streaming service, which unsurprisingly failed.
13. Hotel Chocolat’s Takeover Offer Goof
Hotel Chocolat prematurely sent out an eccentric bee-themed press release regarding a sweet takeover offer from Mars.
14. Water Firm’s Secret Task Force Exposed
Severn Trent’s Liv Garfield secretly proposed a scheme to align with Labour to resist nationalisation, but the plan was leaked.
15. NatWest CEO Resigns Over Farage Story Leak
Alison Rose stepped down from NatWest after leaking information about Nigel Farage’s bank accounts, creating a huge media controversy.
James Dyson, known for supporting Brexit, was upset by media reports about moving his company to Singapore. He sued the Mirror for libel, but the judge ruled the article was an honest opinion.
2. BP’s Bernard Looney Exits
Outgoing CEO Bernard Looney of BP lost his bonus over undisclosed workplace relationships.
3. Marston’s Controversial Property Sale
Marston’s pub company sold an iconic tilted pub, the Crooked House, which later burned down under suspicious circumstances.
4. Tesco Recalls Moth-Contaminated Stuffing
Tesco had to recall a festive stuffing mix found to possibly contain moths.
5. Central Banker’s Regrettable Comment
Bank of England’s lead economist Huw Pill faced backlash for candidly speaking about British economic hardships.
6. CAB Payments IPO Tanks
CAB Payments’ stock plummeted by 73% following a profit warning, earning Bloomberg’s "worst IPO of the year" title.
7. Fake $1B Investment Statement Rocks LSE
A false press release about a $1 billion investment in ChatGPT’s OpenAI briefly appeared on the LSE website.
8. Rachel Reeves’ Plagiarism Faux Pas
Labour’s Rachel Reeves faced criticism for her book passages lifted from Wikipedia.
9. EG Finco’s £500 Billion Accounting Error
The Issa brothers’ company mistakenly reported a €591 billion loan in its accounts.
10. Web Summit CEO Apologizes and Resigns
CEO Paddy Cosgrave stepped down from Web Summit after retracting controversial statements about Israel.
11. Entain’s CEO Departs Amid Criticism
Jette Nygaard-Andersen left Entain after utilizing the company’s private jet excessively.
12. Amigo’s Failed Business Pivot
Bankrupt lender Amigo attempted to transform into a streaming service, which unsurprisingly failed.
13. Hotel Chocolat’s Takeover Offer Goof
Hotel Chocolat prematurely sent out an eccentric bee-themed press release regarding a sweet takeover offer from Mars.
14. Water Firm’s Secret Task Force Exposed
Severn Trent’s Liv Garfield secretly proposed a scheme to align with Labour to resist nationalisation, but the plan was leaked.
15. NatWest CEO Resigns Over Farage Story Leak
Alison Rose stepped down from NatWest after leaking information about Nigel Farage’s bank accounts, creating a huge media controversy.
