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> By keeping [the CEO] out of the loop the CFO was able to hide the problems (including some irregularities involving private accounts and the corporate current
by woodchuck64 14y ago
> By keeping [the CEO] out of the loop the CFO was able to hide the problems (including some irregularities involving private accounts and the corporate current account) from his partner.
Seems like you're saying a good way to go bankrupt is to have a criminal CFO. Aye, that will do 'er.
- jacquesm 14y agoThat was a minor (if contributing) factor, the bigger problem was the unprofitable strategy of expansion. The irregularities were what triggered the review, the actions by the participants hastened the demise of the company but as far as I can see with the information I've got this one was unavoidable. Which totally sucks. Companies have survived with people raiding the till, but no company will survive basic un-profitability in the longer term.