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Stock impact report

A reminder that titans of industry need oversight [CNN]

GE Aerospace (GE) 
Last ge aerospace earnings: 4/30 04:02 pm Check Earnings Report
US:NYSE Investor Relations: ge.com/investor-relations/overview
Company Research Source: CNN
Carlos Ghosn's arrest shows that even visionaries need oversight Ghosn, who was arrested on Monday over what Nissan called "significant acts of misconduct," served as both the CEO and chairman of Nissan until last year. And he holds both those titles at Renault, the French auto giant. Shares of both companies plunged on the loss of their visionary leader. When CEOs grab too much power, accountability and responsibility sometimes go out the window. That lack of oversight can lead to fraud, such as with the demise of Enron under Kenneth Lay or Tyco under Dennis Kozlowski. Other imperial CEOs, like Dick Fuld of Lehman Brothers, enabled reckless risk-taking that ruined their companies. John Stumpf failed to fix Wells Fargo's toxic sales culture . And Jeff Immelt made a series of bad decisions that have come back to haunt General Electric. "You need checks and balances," said Ralph Walkling, founder of the Gupta Institute for Corporate Governance at Drexel University. "The board's primar Show less Read more
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