Several new, highly public developments showcase prominent executives being subjected to significant financial penalties, loss of employment and reputational damage arising from allegations that they bore responsibility for corporate scandals to which they contributed, directly or indirectly.
Even though these developments are unique in their nature and scope, the sheer magnitude of the penalties asserted and the intensity of the media coverage are likely to attract significant attention in the executive community. They’ve been page-one news; people are noticing and boards may be expected to react.
McDermott’s Michael Peregrine authored an article for Forbes in which he discusses how the spotlight on individual accountability is getting a little bit brighter.
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