Forbes has made the top ten worst CEO of the expiring year

Forbes has made the top ten worst CEO of the expiring year

Moscow. December 29. Forbes magazine and Professor at Dartmouth College, Sidney Falkenstejna the fifth time made the list of the ten worst CEOs of the year.

The drafters decided not to give any specific places in the “top ten”, because to determine who is worse: the head of the pharmaceutical company that raised the price of vital medicine for 5000%, or supervisor petroleum Corporation, a corruption scandal which has had a negative impact on the economy of the whole country, it was not easy.

It is noted that only four out of ten CEOS included in the list, lost their positions as a result of their mistakes and miscalculations, while the rest continue to lead the companies and blame anyone but themselves. It is also noteworthy that three of the representatives of the list are the heads of companies from the health care industry.

Turing Pharma: Martin Shkreli – “an example of corporate greed”

In the past year 32-year-old head of the pharmaceutical company Turing Pharmaceuticals Martin Shkreli demonstrated a bright example of how greedy for profit the CEO can see the chance to earn even terminally ill people.

Shkreli, who previously worked in a number of hedge funds, in February 2015 started a company to buy the rights to drugs and subsequent increase in prices. For $50 million Turing Pharma acquired the rights Darapim drug that is used to treat toxoplasmosis in patients with diagnoses such as cancer and HIV. After that, the price of the drug jumped from $13.5 per pill to $750, that is, at 5455%.

Moreover, the businessman of Albanian origin in response to allegations of inhuman behavior has repeatedly and publicly claimed that to reduce prices for essential drugs is not going to.

In the end, U.S. authorities have arrested “the greedy CEOS 2015” in December for a number of irregularities in previous posts. On 18 December he resigned as Director General Turing Pharma.

Valeant, Michael Pearson – “the new Enron?”

This is followed by one of the leader manufacturers of pharmaceuticals Michael Pearson, who heads Valeant since 2010 to this day. Pearson is accused of wrong election strategy for the company, which consists in a sharp reduction in the cost of developing new drugs, buying rights to other medications and excessive pricing, and fraud reporting.

In October, research firm Citron Research published an article that Valeant intentionally sent retailers more drugs than they can sell, for the overstatement of revenue. Company representatives deny the charges, and the authorities are investigating. A number of journalists began сравниватьValeant with the energy company Enron, bankrupted in 2001, after the scandal of falsification of financial statements.

As a result, the value of securities Valeant fell from $262 per share in August to $70 in November, and Pearson lost his billionaire status.

Pertobras: Maria das Gracas foster “from rags to riches and back”

Maria das Gracas did a magnificent career, from the inhabitants of the favela into the head of a huge oil and gas state Corporation. She came to work in Pertobras in 1978 as an Intern, and in January 2012 became CEO of the company.

However, in the past year she had to leave the organization after a corruption scandal, involving the most senior representatives of government and business in Brazil. According to the prosecution, the largest construction companies of Brazil bribed the leadership of Petrobras in exchange for getting favorable orders in the amount of about $23 billion.

Itself das Gracas not accused of being involved in corruption schemes, however, in the opinion of the shareholders and the public should know about them and to put an end to them. In February she resigned as head of the company. An additional factor was that as a result of the scandal, the entire economy of Brazil experienced additional pressure, and thousands of people lost their jobs.

Volkswagen: Winterkorn – “admit responsibility, deny any involvement”

The scandal with understating of indicators of harmful emissions in car production Volkswagen has become one of the loudest in 2015. The company, in the beginning of the year hoping to become one of the leaders of the world market, threatening billions of dollars in fines and other costs associated with recall over 11 million cars. A few days capitalization of the automaker fell by a third.

At the end of September Martin Winterkorn, who led the company since 2007, announced his resignation. He admitted his responsibility in connection with the manipulation of the emissions, however, stated that he was not privy to them.

However, the German authorities are conducting an investigation in respect of the most senior leaders of Volkswagen, suspecting them of fraud. Individual check began regulators around the world.

Takata: Shigehisa Takada – “pillows of insecurity”

Faulty airbags produced by the Japanese company Takata Corp. have killed at least eight people and caused hundreds of injuries. In the event of a collision, these airbags are able to open up with excessive force, causing injuries to passengers.

Despite the fact that accusations of malfunction of pillows sound not one year, the head of the firm Shigehisa Takada made a public apology in June 2015. However, his company still had not completed the investigation of the causes of the tragic incident.

According to the head of Ministry of transport of the USA Anthony Fox, “Takata has produced and sold products with defects, refused to acknowledge the presence of defects and provided timely information to the authorities, its clients and the community.”

Only in the United States because the Takata airbags have been recalled 34 million vehicles.

Other nominees

In addition, the top ten worst CEO of the year 2015 according to Forbes entered Elizabeth Holmes, youngest billionaire of the world after Mark Zuckerberg. Founded her company Theranos, who developed an innovative method of diagnosis using blood tests, and demonstrated impressive results. An additional caveat is that the Theranos Board of Directors are such well-known personalities like former heads of the U.S. Department of state Henry Kissinger and George Shultz, and former senators and high-ranking military officials.

There was a place in the list and for the head of Yahoo! Marissa Mayer. Once one of the largest Internet companies in the world, Yahoo! and are unable to adapt to modern realities. According to analysts, its most valuable asset is not core business and a stake in China’s Alibaba. Also during the reign of Mayer left the company many valuable staff, plus the company has spent $3 billion on acquisitions, of which successfully it is possible to recognize only the purchase of the site Tumblr.

Completing the top ten, the former CEO of United Continental airlines Jeffrey Smisek, 92-year-old food producer Dole Food David Murdock and co-founder of Dating app Tinder’s Sean red. The main “merit” was remarkable last interview with the Evening Standard in which he openly talked about his sex life, used the term “sodomy” to describe attraction to smart women and said that every day receives 20 messages from her mother.