個案資料
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ICICI Bank: Restoring Faith in Corporate Governance
內容大綱
In March 2016, the chief executive officer (CEO) of ICICI Bank Ltd. (ICICI), one of the largest private sector banks in India, was accused of non-disclosure and exploitation of conflict of interest by an investor. The CEO, who had successfully led the bank since 2009, had been featured in two Forbes lists of the most powerful women in 2017. Initially, the ICICI board of directors supported the CEO for two years, until March 2018, when Indian regulatory agencies including the Central Bureau of Investigation opened investigations. In January 2019, following the findings of an internal investigation report by ICICI, the newly appointed chairman of the ICICI board terminated the CEO over non-disclosure of conflict of interest. The board chairman also demanded the return of all bonuses and stock options received by the CEO since her appointment in 2009. Was the ICICI board chairman right to take strict action against the CEO for non-disclosure of conflict of interest? What could he do to improve governance practices at ICICI?
學習目標
This case is intended for an undergraduate- or graduate-level course on business ethics, corporate governance, or management control systems. This case will help students learn about non-disclosure of conflict of interest issues, and how boards of directors must perform their duty when dealing with an accused CEO. After completion of this case, students will be able to<ul><li>understand conflict of interest situations and how they are related to corruption;</li><li>analyze different types of boards of directors and the biases they may suffer from;</li><li>critically analyze whether chief executive officers should be monetarily penalized when fraud is reported; and</li><li>examine the ideal governance structure for a board of directors to work efficiently and avoid fraud.</li></ul>