The Weiderhorn Indictment Puts Corrupt CEOs on Notice

Ethisphere Chief Strategy Officer and Executive Chair of the Business Ethics Leadership Alliance Erica Salmon Byrne explains some of the key governance takeaways and implications from the developing story of Andrew Weiderhorn, the former CEO of casual dining company Fat Brands, who has been indicted for looting his own company. Weiderhorn, a convicted felon who did time in 2004-2005, is accused of orchestrating nearly $47 million in bogus personal loans from Fat Brands to fund his lavish lifestyle, as part of a long-running pattern of fraud and tax evasion.
2:56: A failure of organizational or personal ethics?
4:32: Drawing the line between redemption and risk management
5:57: The red flags of a 'rubber stamp board
10:28: Corporate looting is not a 'victimless crime'
12:44: Best practices for first-time CEOs and Directors
USDO-CDCA press release: tinyurl.com/2s3aduzc
Oregon Live Coverage: tinyurl.com/2s73x96v
Franchise Times Coverage: tinyurl.com/5n9ywvma
Free Governance Resources: www.ethisphere.com/resources
#ethics #whitecollarcrime #indictment #weiderhorn