Worst CEO Mishaps of 2012

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Aubrey McClendon- Former CEO of Chesapeake Energy

  • Had several huge conflicts of interest: (1) borrowed $500 million
    for personal use from EIG Global Energy Partners (2) ran a secret $200 million hedge fun trading oil and gas (3) used company jets for personal use, had employees do personal work for him, and had a corporate sponsorship deal with the NBA team he owned, Oklahoma Thunder
  • Company stock down 20% this year.

Brian Dunn - former CEO of Best Buy
• Squandered $6.4 billion on share buy-backs.
• EPS and sales have fallen, cash reserves down 85%.
• Was unable to improve customer service and online offerings,
leading to five years of decline stock price and market share loss to Walmart, Amazon, Apple, and other online sellers.

Robert Diamond - Former CEO of Barclays

  • Oversaw Barclays’ involvement in international scheme by banks to manipulate interbank lending rates for their own benefit.
  • Paid $450 million to American and British regulators in settlement of interest rate fixing charges.

Stuart Gulliver - Former CEO of HSBC

  • Director over activities at one of world’s largest banks which ended in a record $1.92 billion settlement over money laundering charges.
  • Company faced allegations of transferring billions of dollars to countries like Iran, making it possible for Mexican Drug Cartles to move money through HSBC’s U.S. branches
In : Business

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