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Sep
20

Many Losses by Ethic Violations by CEOs

Many Losses by Ethic Violations by CEOs
(Guidelines for Chief Executive Officers (CEO) series -5
By: Bhishma Kukreti (The Historian)
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अनीतिरेव सच्छिद्रं राज्ञो नित्यं भयावहम।
शत्रु संवर्धनं प्रोक्तं बलह्रासकरं महत। 15 ।( शुक्रनीति )
Aneetireva Sacchidra Ragyo Nityam Bhayavaham
Shatru Sanvardhanam Prktam Balhraskaram Mhat I 15 I (Shukraneeti)
[The biggest drawback of King (CEO) is to be unethical and by being unethical, there is increase in fear, enemies and there is sharp decrease in strength and accretion.]
It is proven fact that when a CEO /Chairman, president or owner of an organization violates the ethical means the CEO , the organization gets sever losses and there is loss of credibility of the individual as well as the organization besides, the monetary losses and closure of the organization too. Forbes .com rightly states “High profile downfalls of corporate CEOs are not a new phenomenon (1)”
forbes.com offers the example of 5 bad CEOS in a chapter ‘ 5Most publicized Ethics Violations by CEOs (1)-
Kenneth Lay of Enron – The downfall of Enron is well known fatc about non ethical acts by CEO Kenneth Lay that not only destroyed big giant corporation Enron but destroyed one of the biggest audit firm Arthur Anderson too.
Bernard Ebbers the CEO of WorldCom too destroyed the organization his repute by violating the ethics.
Canadian Conrad Black the CEO of Hollinger International destroyed the corporation by non-ethical acts.
The electronic and security giant Tyco was destroyed by unethical acts by its CEO Dennis Kozlowski
Scott Thompson the CEO of Yahoo (2012) was charged for forged degree .
In India, the ex-Bihar CM and ex Indian railway Minister Lalu Prasad Yadav got presentment for his corrupt acts or unethical means in fodders deal in Bihar. The reputation of Lalu is destroyed and his family members have to go tremendous pain and distress for his bad deeds.
It is true that shareholders and other stake holders expect high ethical means s from the CEOs.
References
www.forbes.com on investopedia dated 2/5/2013

Copyright@ Bhishma Kukreti, 2019
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