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It's so convenient for everyone if this is all on Conrad. Mr Sacks did an excellent job of throwing Conrad under the bus, but as COO for 16 months, a board memb
by throwaway-zcs 11y ago
It's so convenient for everyone if this is all on Conrad. Mr Sacks did an excellent job of throwing Conrad under the bus, but as COO for 16 months, a board member and with a desk adjacent to Conrad and a seasoned guy, it strains credulity that he didn't know. There's some schaudenfreude here (and an anonymous account) because these guys all acted like they were smarter than everybody else. I hope regulators do a real investigation and I suspect Mr Sacks will come out more culpable than he would have you believe.
- manigandham 11y agoThis isn't about whether Sacks knows or had involvement - it's about how to repair the situation. Conrad had to be the fall guy and Sacks is the best replacement available: already hired, has leadership experience, knows the business, and has plausible deniability via Conrad.
- mathattack 11y agoMy guess on this situation... You have a group of people sitting around the table saying, "If we do nothing, the value of the company goes to zero. We have to do something visible and credible." Conrad had to agree to jumping on his sword - as the largest shareholder, he has the most to lose if the company goes under. So he jumps on the sword, and lets everyone kick him while he's down, because it increases the likelihood that the company survives. I have no real information though, so for all I know he could have been stabbed in the back instead.
- bsder 11y agoYeah, I suspect Conrad is falling on the sword to save the company. I suspect if it goes to a real investigation, lots of people at Zenefits are in deep trouble.