Missing the Point: Lessons From Novartis: Shareholders Win the Compensation Revolt but Lose the Ethics Revolution
February 22nd, 2013
Board Matters, Corporate Matters, Crisis Management, Ethics and Leadership, Ethics in the News, Governance, Accountability and Transparency, Uncategorized
The actions and commentary surrounding the recent shareholder revolt over the proposed $78 million payment to departing Novartis Chairman Daniel Vasella offer a range of ethics and governance lessons. These are critical across all sectors from corporate to non-profit to governmental. My purpose is never to attack an individual leader, an organization, or commentators. My intent here is learning, especially as it seems inconceivable that this kind of situation could continue to occur following the relentless say on pay and other ethics events of 2012. (more…)