In November 2001 the then chairman-elect of Enron, Raymond Troubh, discovered first hand how to clean up a nonfunctioning, uninformed board that presided over what he calls an “economic tsunami ... the economic equivalent of 9/11.”
Troubh was present that fall day of 2001 when Enron directors were told “their baby was bankrupt, their published earnings were suspect, and their theretofore pristine reputations were likely to undergo serious denigration, stigma and damage,” the former investment banker and long-time professional director told the Council of Institutional Investors in California recently.
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