Tyco and Corporate Malfeasance

Tyco and Corporate Malfeasance
Faced with the task of rebuilding investor and public confidence in Tyco, newly-appointed Edward Breen has invited an outside group to advise him as he takes steps to restore the company’s viability and reputation. Called to assist your consulting firm in this project, you have been asked to study the Tyco situation and prepare a report with the following content:

  1. Kozlowski certainly misused his authority in distributing bonuses, extending loans, and misreporting material items. How do you account for this behavior?
  2. Tyco’s Board of Directors and senior executives had legal obligations to fulfill. How do you account for the board’s failure to carry out its fiduciary duties? Why did they disregard corporate and federal reporting rules?
  3. As Tyco’s new CEO, Breen has to regain trust from shareholders, employees and the firm’s other stakeholders. What actions should he take immediately? Within the next year? Over the long term? What resources does he have at his disposal to enhance the reputation of the firm and turn it round?

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