Decade's Top 10 Executive Ethics Scandals, USA, The Wall Street Journal
http://online.wsj.com/article/SB10001424052748704388504575419331472193418.html
Hewlett-Packard's Mark Hurd is the latest in a list of corporate leaders felled by personal ethical lapses in recent years. Here are some of them.
1. Robert Moffat, senior vice president at International Business Machines Corp
Robert Moffat, a
former senior vice president at International Business Machines Corp., left the
company in 2009 after becoming ensnared in big insider trading case involving
the hedge fund group Galleon and other corporate executives and traders on Wall
Street. Earlier this year, Mr. Moffat pleaded guilty to criminal charges related
to passing on inside information to Danielle Chiesi, a woman with whom federal
prosecutors have alleged he had an intimate relationship. (See related article.)
2. John Browne, chief of oil giant BP
John Browne, the
former chief of oil giant BP PLC, resigned in 2007 after he admitted lying to a
judge while trying to prevent a British newspaper from exposing details about
his personal life. (See related article.)
3. Steven J. Heyer, chief executive of Starwood Hotels & Resorts Worldwide Inc
Steven J. Heyer was ousted as chief executive of Starwood Hotels & Resorts Worldwide Inc. in 2007, after the board of directors received an anonymous letter accusing him of creating a hostile work environment. The letter alleged, for example, that Mr. Heyer made inappropriate physical contact with a female employee outside a restaurant bathroom, on at least one occasion. Mr. Heyer denied engaging in any impropriety. (See related article.)
4. Chris Albrecht, the CEO of Time Warner Inc.'s Home Box Office unit
Chris Albrecht, the CEO of Time Warner Inc.'s Home Box Office unit, left the company over an incident for which he pleaded no contest to battery against his girlfriend. Mr. Albrecht at the time said he was leaving because he did not want his "personal circumstances" to distract the company. (See related article.)
5. Mark W. Everson , president and CEO of the
American Red Cross
Mark W. Everson was ousted in 2007 as president and CEO of the American Red Cross due to his affair with a female subordinate. Mr. Everson said he was leaving "for personal and family reasons." (See related article.)
6. Patricia Dunn resigned as chairman of Hewlett-Packard
In 2006, Patricia Dunn resigned as chairman of Hewlett-Packard after launching a private and secretive investigation into leaks to the press by the H-P board. (See related article.)
7. Harry Stonecipher, CEO Boeing Co.
In 2005,
Boeing Co. replaced then-CEO Harry Stonecipher after emails revealed a
relationship with a female executive at the company. Boeing said at the time
that Mr. Stonecipher, who was then married, was fired not for having an affair,
but for violating Boeing's code of conduct. Mr. Stonecipher acknowledged his
conduct. (See related article.)
8. Thomas M. Coughlin , vice chairman of Wal-Mart Stores Inc
In 2005, Thomas M.
Coughlin resigned his post as vice chairman of Wal-Mart Stores Inc. amid
allegations that he abused expense accounts and fabricated invoices to obtain
reimbursements totaling as much as $500,000. A year later, he pleaded guilty to
federal wire-fraud and tax-evasion charges. (See related article.)
9. L. Dennis Kozlowski, Tyco International Ltd,
Tax evasion also
felled L. Dennis Kozlowski of Tyco International Ltd, who resigned in 2002 after
he was caught evading New York sales taxes on purchases of artwork. He was later
convicted of stealing tens of millions in unauthorized compensation from the
company. (See related article.)
10. Mark Hurd , CEO of Hewlett-Packard
Mark Hurd resigned Friday as CEO of Hewlett-Packard after a board investigation of sexual-harassment allegations turned up expense irregularities. Though the company said he hadn't violated its policy on sexual harassment, Michael Holston, H-P's general counsel, said Mr. Hurd had demonstrated a "profound lack of judgment that seriously undermined his credibility and damaged his effectiveness."
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