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Mar 23, 2007 -- Another CEO goes down
This is not the best time to be a corporate executive who is squandering peoples money. The CEO of Citigroups Wealth Management Office was recently let go. Todd Thomson is the most recent exec to be fired for misusing stockholders money. He flew the corporate jet all over, used Citi money for lots of personal ventures and spent thousands to decorate his office. The company stockholders werent having it. Maybe were about to see a new era in corporate America, where people are actually held responsible for their actions. When these big wigs are riding high on the hog theyre spending your money. Its a publicly owned company, so the money is yours. The problem is that the CEO handpicks personal cronies who sit on the board, so those people dont take issue with the spending. Its not fair. CEOs should put the worth of the stockholders first and should treat workers with respect. When that happens, employees are happy and companies make money.
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