During an informal dinner with my old classmates yesterday in Phuentsholing, I bumped into one of the journalists who had been trying to cover FCB scandal. Our casual conversation about the case revealed that there is a huge corporate scandal behind sugar and rice missing from FCB. From this perspective, the shifting of ultimate financial obligation from the corporation itself to helpless individual and the FCB CEO, shamelessly walking as if nothing has ever happened is nothing short of case study for Government and corporate bodies to ponder upon. How did this society give birth to such a fascist????
If it were anywhere around the world, the CEO should have resigned on moral grounds but here we are, facing a not-so-gentleman. Looks like he is waiting for his skin to be tanned till the last inch with corporate misgivings. So many employees are being threatened, moved , treated unfairly just in the name of change.
There is a deep revelations of fraud, deception and outright robbery by senior management and this has not only frightened the staff but has also now disgusted the public while galvanizing government and the FCB Board members into belated displays of severity with corporate wrongdoing.
It may not sound significant, but there is a demand for such scandals be prevented in future as good corporate governance become another parallel culture. In particular the role of corporate boards of directors - too often revealed by scandal to have been inattentive at best or complicit at worst in the misdeeds of management - has come in for highly critical scrutiny. It calls for investigators, journalists, thinkers and decision makers about the kind of people we put at the helm.
Have we done ourselves any good?????