It is perhaps fitting that we are coming up on the one-year anniversary of the Business Roundtable’s Restatement of Corporate Purposes, which was signed by 181 corporate leaders and widely-praised for its expansion of corporate ethics and values. But I am sorry to say that not much has really changed. Some of this lack of action could be excused by the COVID-19 crisis and the...
Corporate boards need to devote more energy to oversight and improvement of corporate culture and compliance. Over the last ten years, we have witnessed corporate scandals and misconduct that could have been prevented or, at least, mitigated by a corporate board’s proper oversight, and management of a company’s culture and compliance program. All too often, corporate boards fail to identify potential red flags of serious...
The business headlines are filled with the latest corporate scandal – Uber’s defective culture, CEO misconduct and reprehensible comments by supervising board members. Uber is just one of several significant companies caught in the headlines. Wells Fargo has been caught in another scandal just when it was thought to be dealing with the sales incentives scandal. Many high-profile companies are facing difficulties, usually self-inflicted from...
