Post by
Dale327845 on Feb 02, 2024 2:12pm
Article
Yesterday I copied and pasted an article from the Finacial Times here , even tho it said quite plainly not to do any sharing - ok my bad. And my post was removed. Anyway you can easily find the article by Googling FT. The article in question was about the firing of Endeavour's CEO , a short time ago. Nothing much we don't already know, but it did write about the sexual stuff quite a lot. And I asked the question: why don't these guys that seem so libido driven, just pay for it. I am sure in London you can get a great hooker for maybe $5,000 US a nite which is peanuts compared to the $30 million our former CEO just lost, and thinking about it , maybe a couple hundred million more over the next years - he is young and was well paid. (This is not to forget the close to couple billion us shareholders have lost in market cap, which yes hopefully we get back quickly) .
But on thinking more about it , and reading the article again, the words 'sexual misconduct' , and 'sexual harassment' were used. To be clear nothing has been proven, and in fact Endeavour did have some lawyers look into it and they said no problem ( their impartiality is in question however).
So maybe just lots of smoke. But the next word after misconduct etc. is assault and that is when it gets really serious. So my portraying this as a possible sexual dalliance could be way off base.
I think that it is wonderful that guys like Weinstein lost everything - jail and probably broke, or Epstein - dead; just too bad it didn't happen much sooner. These days it does - happen quickly. Again to repeat, nothing has been proven, and perhaps never will be, but now the best thing a company can do if a CEO is under plausible suspicion is to fire him quick. Where the CEO controls the board and hangs on, the company comes under suspicion as well and great reputational harm to the company often occurs. And it becomes a big distraction for often a long time.
My guess is then that 'whistle blower' , as they called it in the FT article, wasn't satisfied with the investigation, and perhaps was going to go public, maybe even to the police. And then the board did exactly the right thing and moved quickly. The improper payment thing was not the reason, but was something they had proof of , so was used as the motivation for the firing.
Unless the former CEO is dumb enough to contest his firing, the facts will stay unknown. And my guess is that with the big money losses he has had , he wouldn't come close to the money Endeavour would be able to throw at a lawsuit of wrongful dismissal . A final thought I had , re how much money he might not have, is someone on this forum said something about how his wife might not be too happy with him losing $30 million over ,well, whatever it was. Thing is a wife can and often does forgive a sexual dalliance , sexual harrassment (if that occured) is another ball of wax, kettle of fish , etc. Pretty hard to live with someone like that I would think. If I were the wife I would have placed a freeze on all the accounts I could at this point, and be going after a 50+/50- splitting, given the possible circumstances.