When people in power are out of their depth?
There are effects of this move by Doug Ford that are not being discussed. He said; “this will come at no cost”. Well the pay out’s to directors is over $20,000,000. The share price is down and the cost to find replacement directors and a new CEO could be staggering. As if there is a line up at the door? No.
We see this time and time again where an inexperienced person takes on a role and acts rashly. Trump is the prime example but allow me to highlight a few others:
- US federal government
- Theranos board
- Equifax board
- Wells Fargo
There is a breakdown in communication and the people in charge are lost. We have seen this in the movies as well; “Hidden Figures” from 2017 where a woman scientist was instrumental in a space launch.
Even with a Chief Risk Officer as there was at Wells Fargo; he missed the signs, was too comfortable in his job or simply had not credentials. What a waste.