This week I have a special five-part podcast series where I am joined by Amii Barnard-Bahn to review some of the top business leadership failures of 2019. Today, we conclude our series by considering some of the leadership failures of the Swedish telecom company Ericsson in connection with its stunning FCPA enforcement action of over $1bn in fines and penalties. Some of the issues we explore in this podcast include:
- Ericsson is the second largest FCPA settlement of all time.
- Why is telecom such a riskiest industry for FCPA violations?
- This matter had shockingly simple bribe schemes together with an appallingly weak control system and compliance culture.
- Thus far, the communications from leadership thus far seem to be driven by legal, lack depth and have a defensive tone. They recently brought in a new CCO and revamped their compliance team.
- The company will have a monitor for 3 years.
Amii Barnard-Bahn, JD, PCC, CCEP, CCEP-I is an executive coach who specializes in accelerating the success of legal and compliance executives and their teams. A leadership columnist for Compliance Week and Fellow at the Harvard Institute of Coaching, Amii previously shaped company culture and strategic initiatives as an executive (CAO, Chief Compliance Officer, and Chief Human Resources Officer) at companies such as McKesson and Allianz. Forbes has recognized Amii as “one of the top coaches for legal and compliance executives.”
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