2urb - If the SEC finds insider trading with BK 25M stock transactions which he clearly executed well after he knew of the security flaw and before the public......
BK will be hanging that framed letter on his prison cell wall.
People need not joke about this insider trading issue. BK did it and everyone knows it. At what point does the board of directors force BK to step down is the only question left.
BK should get a large raise for doing what hasnt been possible recently, creating bipartisanship in washington as one GOP senator joins a democrat colleague in sending their memo to the SEC urging an investigation. Truly, perhaps BKs crowning achievement for 2017, he should frame that letter and hang it in his mansion with the $25M he gained from insider trading.
As one of those cast-off by a relatively quiet “efficiency” action last year, I am surprised to see BKs actions, particularly when year after year our required ethics training drilled us about avoiding these insider situations. Not surprised though, it’s the same things we daily see our politicians and media/entertainment heads practicing.
“Intel took most of the heat by not getting ahead of the news and because it quickly flipped to the CEO’s untimely divestiture of virtually every Intel option he had (over $25M worth). The implication was that even Intel’s CEO, Brian Krzanich, didn’t think the firm would weather this. Regardless, the optics are horrible, and now Intel’s CEO is yet another problem the firm must recover from.
Every executive in the industry is talking about this. Perception regardless of the corporate guidelines not broken is simply a laughable example of BKs attitude and intelligence, or should we say greed/arrogance and stupidity
This very much defines the current situation of intel.
What is it we are told about ethics in our annual WBT training?
BK what a role model to be proud of
No Intel executive (before BK) in its almost 50 year history has triggered an SEC insider trading investigation. Regardless of legality, there's no great vote of no-confidence in the company's future than BK's big stock sale. HE should be fired but the BoD are pussies.
I think in his arrogance BK stopped caring about optics as he defended getting double digit raises while employees got canned or 2% raises - even as he trailed the S&P 500 during his tenure... but applying the same indifference externally isn't working out so well, where outsiders can call his abusive behavior more sharply than an existing internal employee.
This is karma, and BK deserves every bit of it, as a current employee, I hope he is paraded out like the thousands that he callously fired while engaging on a hiring spree. Time and again, we are trained that perceptions matter, and for a CEO to sell every share that he is able to sell creates bad optics, but to go forward with such as sale while these bugs were being worked, and lets not forget how quiet things are around 10nm... is horrible optics.
Andy Bryant is complicit also, a dinosaur that never much liked technology, I have no idea why he doesn't just move on, let the company put this sordid chapter behind it.
Good that even Wallstreet Journal has an article, good read.
What an idiot the CEO is, talk in all the technological circles about what to not do, BK is a role model for stupid!