Dennis Kozlowski, the founder and former CEO of Tyco, was convicted in 2005 of stealing from his company to support a lavish lifestyle. Now on parole, he is being officially released from prison today.
In today's lesson, Catherine Neal, an associate professor at Northern Kentucky University, examines the man, and his legal case, in a new light. Neal says that a close look at the evidence suggests that Kozlowski did not in fact break the law. His real mistake was his failure to be transparent, and this became extremely problematic as Kozlowski was clearly not a good steward of corporate assets. This blunder left Kozlowski vulnerable to attack, Neal argues.
And that is why everyone who aspires to the position of CEO ought to pay attention to this case.