Finlay ON Governance made its way into the top business story in the New York Post today. I’m quoted by reporters Zachery Kouwe and Paul Tharp in connection with Citigroup’s handling of the events (and its staggering losses) that culminated in the resignation on Sunday of former CEO Charles O. Prince.
Governance experts said the brunt of the blame for Citigroup’s problems and turmoil rests with its 13 directors, excluding Prince, who collectively earned $43.8 million in compensation last year.
“Directors are not like some kind of 1950s housewife who was always the last to learn about the misadventures of her husband,” said J. Richard Findlay, head of The Centre for Corporate & Public Governance.
“Their job is to oversee the CEO and to be aware of key events in strategy and risk at every stage along the way,” Findlay added.
It’s nice to be in New York again, even if it is just the virtual me. The on-line version of the article is available here.