Corporate governance advocate Douglas Y. Park Quote from MF Global Collapse
Palo Alto, CA (PRWeb) November 30, 2011
Tags Douglas Y. Park, corporate governance lawyer based in Silicon Valley, and head DYP Advisors, recently gave an interview to the magazine company secretary of the fall of a brokerage firm MF Global. MF Global has recently filed for bankruptcy protection after losing a big bet on the European debt.
Tags: Jon Corzine, former chairman of Goldman Sachs and U.S. Senator from New Jersey, was CEO of MF Global at the time the petition for bankruptcy of the company. One of the questions that arose about Mr. $ 12,000,000 Corzines work package. Due to the large severance former CEO of Hewlett-Packard Leo Apotheker and Gene Isenberg Recruitment of Industries, critics have questioned the reasons for these compensation packages.
Mr. Park gave his opinion on a large severance of the CEO, whose performance is questionable: Boards are the adoption of these types of packaging and it is not clear what the reasons to do so. In fact, no clear reasons of economic or financial decision. “
Tags: Mr. Park continued: If you examine how directors and presidents are connected through a network of board you’ll be surprised, social relationships and expectations that come into play with these kinds of compensation packages, and it makes every other board that this trend is seems okay to board members.
Tags: Mr. Corzine has decided to discontinue payment for the work they are entitled.
Tags: In response to a question about the possible legal consequences for Mr. Corzine, Mr. Corzine said Park will face many legal issues, including several investigations by state authorities (CFTC, SEC, FBI) and the appeal, the bankruptcy trustee. A trustee court Corzine and other top executives of MF Global. In addition, board members can be invited and heard.
Tags: Mr. Park was mentioned in the corporate governance problems in large publications, including TheWallStreetJournal.com, Time.com, Agenda, Financial Times service for corporate directors and Reuters.
Tags: DYP Advisors Q:
Tags: DYP Advisors provides legal services, business information that helps managers, investors and the Board to address issues of corporate governance, corporate law and strategy. The company is applying its extensive experience in business and the right of the main challenges. Our cost effective, high value added services and your competitive advantage. You can find more information about the company in http://www.dypadvisors.com.
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