In May 2009 The Economist published an article entitled “Second Life; Wall Street’s Chief Executives.” This article discussed the phenomena of executives who led their companies into disaster being offered high-paying positions with similar responsibilities despite the fact that they seem to have poor histories as executives.
Generally baffled by this trend, the author quotes Dennis Carey who has a possible explanation for the resurrection of these proven failed execs.
‘Such fallen stars have plenty of useful experience, to be sure. “Someone who fumbled in the last play is likely to hold the ball tighter,” says Dennis Carey of Korn/Ferry, an executive-recruitment firm.’
Tags: Dennis Carey