Post by account_disabled on Mar 12, 2024 3:35:30 GMT
Nowadays, some company managers are being fired not only for not showing financial results, but for committing ethical misconduct within a company.
According to a study cited by La Vanguardia and presented by the consulting firm PwC, after analyzing the data of the top executives of the 2,500 largest listed companies in the world, 39% of the CEOs of large companies who were forced to They resigned in 2018 for ethical reasons.
Cause for dismissal of senior executives: ethical failures
Among the ethical failures that France Mobile Number List have been found to cause dismissal are: improper conduct, fraud, corruption, privileged information, environmental disasters, lies on the resume, sexual harassment, etc.
According to the PwC survey, "the increase in these types of dismissals reflects several social and government trends, including more aggressive intervention by regulatory and law enforcement authorities, new pressures for accountability over sexual harassment and assault sexual violence sparked by the rise of the #MeToo movement, and the increasing propensity of boards of directors to adopt a zero-tolerance stance toward executive misconduct.”
For The Washington Post, Bill George of Harvard Business School and former Goldman Sachs board member said that “Boards now feel they must hold their CEOs to the same code of conduct as their employees. It is a very important factor that did not exist ten years ago.”
According to data from La Vanguardia , if historical percentages are examined, a decade ago forced replacements due to ethical issues only represented 10% of the total. Since then the number of cases has multiplied by four. For the first time in 19 years since the study was carried out, the issue of incorrect behavior and practices of executives as a reason for forced dismissal has surpassed that of the company's poor financial results.
Some managers involved in ethical failures:
Carlos Ghoshn, of Nissan: He is accused of fraud and other crimes and is under house arrest.
Martin Sorrell, of advertising giant WPP: left the position due to inappropriate conduct and after an investigation into embezzlement.
CBS's Leslie Moves: Left office after sexual harassment allegation.
Brian Krzanich: He ended his experience at Intel after admitting to a relationship with an employee.
In general terms, there are more turnovers than ever because the replacement in these listed firms has reached record numbers. Last year the percentage rose to 17%. In Spain, companies such as Naturgy, DIA, OHL, BBVA and Abertis changed their directors last year and that year Endesa would have to be added.