Our CEO and his wife have made a settlement with India’s version of the Securities and Exchange Commission, as announced yesterday. Without admission of any guilt or wrongdoing, he and his wife paid a substantial penalty. The charges were related to the purchase of Ranbaxy and insider trading. The charges are simple, even as lay people, we know you can’t trade based on non-public information. Ask Martha Stewart, it’s basic Business 101.
Should this have happened in the US, he would have been immediately terminated. Repeat: immediately, and, the company would have completely distanced themselves from him. It’s also possible/likely he would have been arrested.
Instead, we find that our CEO is in India this week and that the Company stands behind his integrity.
That, my friends, is the more concerning issue.
In a country with rampant corruption, our CEO was, let’s be real here, convicted by the government. That says a lot, their SEC must have had him ‘right in their sights’ with very strong evidence because this doesn’t happen in India with near the frequency as it does in the US or other countries.
The fact that numerous press and reporting agencies published this case yesterday, and that there’s been no announcement to us is, beyond belief. This is published globally, but shhh, maybe those stupid, lazy Americans don’t read.
It again demonstrates the arrogance of the company and its complete disregard and flat-out disrespect for its US employees.
But his continued employment today sends a clear message that Sun is above the law. Not to mention integrity, trust and humility are completely disregarded.
Should this have happened in the US, he would have been immediately terminated. Repeat: immediately, and, the company would have completely distanced themselves from him. It’s also possible/likely he would have been arrested.
Instead, we find that our CEO is in India this week and that the Company stands behind his integrity.
That, my friends, is the more concerning issue.
In a country with rampant corruption, our CEO was, let’s be real here, convicted by the government. That says a lot, their SEC must have had him ‘right in their sights’ with very strong evidence because this doesn’t happen in India with near the frequency as it does in the US or other countries.
The fact that numerous press and reporting agencies published this case yesterday, and that there’s been no announcement to us is, beyond belief. This is published globally, but shhh, maybe those stupid, lazy Americans don’t read.
It again demonstrates the arrogance of the company and its complete disregard and flat-out disrespect for its US employees.
But his continued employment today sends a clear message that Sun is above the law. Not to mention integrity, trust and humility are completely disregarded.