The board of SLM Corp., known in many circles as Sallie Mae, announced the appointment today of a new chairman and company CFO. They must have forgotten the other change they need to make: CEO Albert L. Lord.
From the category archives:
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A Mission for Turbulent Times -and for Times of Turbo Populism
Sound governance is not some abstract ideal or utopian pipedream. Nor does it occur as a result of accidents or sudden outbreaks of altruism. It happens only when leaders lead with integrity, when directors actually direct and when major organizations are held to the highest standards of accountability by vigilant stakeholders and informed individuals. We argue here for a return to these and other more enduring truths in the running and leadership of major corporations and public institutions. As we have predicted on numerous occasions on these pages, it has been the absence of these attributes, and the failure of key governance guardians and regulatory gatekeepers to prevent the galloping vices of widespread greed and excess, that have brought the world to the brink of the worst economic crisis since the 1930s, and created the rise of what we call turbo populism. Read more about us.
Panic on Wall Street/Outrage on Main Street
Commentary and insight on the greatest economic crisis since the 1930s and the greed, governance failures and regulatory shortcomings that created it.
Read how excessive compensation has contributed to corporate breakdowns and financial crisis and how boards need to move dramatically to restore sanity to CEO pay.
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