So it goes like this. A new CEO is hired. He quickly appoints a number of long time “business associates” to the Board of Directors – with no industry experience – which insulates himself from any true accountability or concern of being voted off the island. The good ol boy network at work like a well oiled machine. The company is publicly traded and the message boards were buzzing for months even years but nothing happened. And that is the story. A weak CEO continually paid significantly more money than he was worth — new options replacing underwater options all the while business is dwindling down to just about nothing. And his friends on the Board receiving a chunk of change.
Bosse – regarding your last post, you’re a dreamer!
Add A Comment