Russell Simmons Stepping Down, Business Strategy
Russell Simmons the founder of the prestigious music label Def Jam and CEO of Rush Communication who has a net worth of over 300 million is now stepping down from all of his businesses.
When I first read about this I had numerous thoughts. Three of them being so, does that mean he did it? Was he about to retire anyway? And he is a smart man, more information may come out and he is getting ahead of it and stepping down to potentially save his businesses.
Get Raven Davis’s stories in your inbox
Join Medium for free to get updates from this writer.
He made this announcement just a day after it was announced Matt Lauer had been fired from Good Morning America. Women are becoming more comfortable with coming out about sexual incidences and companies and customers are cutting ties and support of companies and people who are being exposed.
Take a look at the Weinstein company is looking to shut down or sale the company after an extensive list of women came out and reported Harvey Weinstein for sexual assault and inappropriate behavior.
Multiple companies are cutting and “reviewing” ties with the Hollywood movie powerhouse. Including Apple and Hatchette books.
Moreover, no other company wants to be associated with working with sexual predators or being seen as a company that supports such wrong doings. Russell Simmons stepping down from his companies could possibily be a strategic busniess move that will save his companies and their reputation.
