How We're Fixing Up Tyco  

Oleh:

Pillmore, Eric M.

Jenis: Article from Bulletin/Magazine - ilmiah internasional
Dalam koleksi: Harvard Business Review bisa di lihat di link (http://web.b.ebscohost.com/ehost/command/detail?sid=f227f0b4-7315-44a4-a7f7-a7cd8cbad80b%40sessionmgr114&vid=12&hid=105&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&jid=HBR) vol. 81 no. 12 (2003), page 96-104.
Topik: fixed field; CEO; corporate governance; corporate responsibility; leadership; shareholders relations

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Perpustakaan Pusat (Semanggi) Nomor Panggil: HH10.23 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Among all the companies that were touched by scandal in 2002, Tyco was uniquely positioned to serve as a laboratory for governance reform. It had solid manufacturing businesses and, unlike Enron or WorldCom, it was not the victim of massive, systemic accounting fraud. Yes, there was serious malfeasance at the top, but undergirding the company was a foundation of profitable basic businesses. In this article, Tyco's first - ever senior vice - president for corporate governance describes the steps the company is taking to wipe the slate clean and restore shareholders' and employees' trust in its operations. The company began by bringing in a new CEO, Ed Breen ; hiring some 60 new senior executives ; swapping out the entire board of directors with individuals who boast strong backgrounds in operations as well as in finance ; and meticulously, systematically scrubbing all the books. Tyco's new board is clear about who has authority over which transactions and, with three executives within the company reporting directly to it, has a window into day - to - day affairs. Most important, Tyco is creating the conditions for good governance below the senior executive level, including a stronger boundary between finance and operations management.

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