PPRuNe Forums - View Single Post - easyJet accused of "severe" boardroom failings - Gaurdian Article.
Old 18th Mar 2002, 18:41
  #7 (permalink)  
phd
 
Join Date: Aug 2001
Location: At home
Posts: 144
Likes: 0
Received 0 Likes on 0 Posts
Post

Fly Right - 'corporate governance' is about running your business professionally, ethically legally, and safely. Some companies that have not managed to do this recently which spring to mind include Enron, Allied Irish Bank, Barings Bank, Railtrack, Independent Insurance, London Underground, Exxon, etc. etc. etc. Some of these companies have paid the ultimate price and are no longer in business - the others have learned their lesson the hard way. Boards of Directors of stock market listed companies are nowadays expected to comply with the guidelines for managing business risks (operational, financial, environmental and human risks) as set out in the Combined Code on Corporate Governance prepared by the Turnbull Committee following the Barings collapse. Those that do not meet these standards are flying on a wing and a prayer and may be inline for a wheels up landing. I wish EZY and Stelios every success but companies must learn the lessons of history and control their business risks properly if they are to survive and prosper.
phd is offline