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Accountability of top managers

Shin Jae Kim (skim@tozzinifreire.com.br) is the head of the Compliance & Investigation practice at TozziniFreire Advogados in São Paulo, Brazil.

The 19th annual CEO Success study by PwC’s Strategy& pointed out interesting data.[1] The forced turnover rate of CEOs continued to be around 20%, as in the previous years. However, the study indicated for the first time that more CEOs were forced to leave their offices for ethical lapses. This turnover rate surpassed financial performance or board struggles as motives for dismissal.

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