Here it comes the list of 20 worst CEOs of all times – source Conde Nast Portfolio magazine. It is kind of funny to read about these superstars how they performed amazingly well to deceive shareholders and associates in their own company. I don’t blame Vikram Pandit too much, because of he doesn’t had much in his hand when he took over Citigroup, the ship was already on its way to get drowned. Anyways, few of the big scandals before recent recession were World-com and Enron of course. We always tend to forget things as they come in news….I wonder how many in South Asia does even care of sub-prime fiasco in the US. But yes, no doubt countries in this region are affected badly because of the mess in US economy and people have lost jobs in the companies which are heavily dependent on US economy.
The magazine rightly booked rank one to Dick Fuld, this man has immense intellectual skills to drive Lehman into a dustbin…I wonder why these people are given Golden parachutes, they dont deserve it in the first place. Nothing against anyone, but how does a company’s CEO manages to manipulate things at this level and that too for a public company, and then one fine day its price deteriorates in a glamorous way and everyone then notice the Company and the CEO.
Yesterday, Reliance Power registered 188% profit growth, any layman who will look at this change will say “ouch”…even then the scrip didn’t do well….no big movement. I believe there could be two reasons, the promoters have no money to invest in their company {given recession} or probably the results are misleading. The second thing could very well be true, given Satyam’s infamous case. My fingers are crossed for the day when there will be Indian faces in the list of 20 worst CEOs across the Globe.
Vivek Misra
