A new study on business leaders has found that CEOs in North America are increasingly getting fired for “ethical lapses.”
The “CEO Success study,” released by PricewaterhouseCoopers’ (PWC) consulting branch, says there has been an increase in the number of Canadian and American CEOs leaving their positions due to improper conduct.
An “ethical lapse” was defined as scandal or improper conduct by the CEO or other employees, including fraud, bribery, insider trading, environmental disasters and sexual indiscretions.
The study, which looked at the world’s 2,500 largest companies, found that ethical lapses were responsible for 1.6 per cent of all CEO turnovers in the U.S. and Canada between 2007 and 2011, but that number rose to 3.3 per cent between 2012 and 2016.
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