New book from ousted HP CEO
TEXT OF STORY
MARK AUSTIN THOMAS: Carly Fiorina hits the bookstores today. Her memoir “Tough Choices” chronicles her time as CEO of Hewlett-Packard. Rachel Dornhelm reports.
RACHEL DORNHELM: After the Enron and WorldCom melt downs, Congress enacted the Sarbanes-Oxley reforms.
They were meant to swing more oversight responsibility to company boards.
Securities lawyer Lance Kimmel says this came to a head around the time Carly Fiorina was ousted.
LANCE KIMMEL: Sarbanes Oxley may have allowed certain board members to feel more emboldened that they were a little bit safer in speaking up, because it was going to be difficult in a Sarbanes-Oxley environment for there to be retribution.
Kimmel says Sarbanes-Oxley has mainly helped businesses be more functional, but ironically at HP, with its long-term struggle of personalities, the slight shift could have accelerated the scandal
Kimmel expects Fiorina’s book will add more details to a story that will likely take a long time to tell.
I’m Rachel Dornhelm for Marketplace.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
