January 13, 2009
Independent Directors and Satyam Computer
Sat yam Computer, a Indian company, has been exposed as a giant financial fraud. The government of India is attempting to reduce the damage and, effectively, has taken over the company. On the board were two Harvard academics. One, Krishina G. Palepu, is a Harvard business school profession with an expertise in, you guessed it, corporate governance. The other, Mangalan Srinivasan, is an adviser to and distinguished fellow of the Kennedy School, Harvard. Both had approved the company's efforts to purchase two subsidiaries owed by the sons of the founder (the crook). Whether this says something about Harvard, academics, independent directors, or experts in managementor "corporate goverance," I leave to you.
January 13, 2009 | Permalink
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