Bankers' convictions raise questions, industry observers say
The convictions of two Commerce Bancorp Inc. executives on federal corruption charges raise some important questions for leaders of the prosperous, growing company, experts said.
"Where was the board? And where is the board now?" asked corporate-governance specialist and shareholder activist Nell Minow.
Commerce founder and President Vernon W. Hill II and his board of directors need to "make sure everyone gets the memo that there is zero-tolerance for this kind of behavior," said Minow, founder of the Corporate Library, a research firm in Portland, Maine.
See full Article.
Posts
