Backdating CEOs and CFOs More Likely to be Forced out of Jobs - NACD Directorship, 2/5/2013

http://www.directorship.com/backdating-ceos-and-cfos-more-likely-to-be-forced-out-of-jobs/

Accounting Today cites a new study that appeared in The Accounting Review, which found that top corporate executives who were implicated in the backdating of stock options "not only were likely to lose their jobs, but had a less than even chance of landing a full-time position at another firm." According to the paper, chief executives of companies implicated in options backdating were almost five times more likely to be discharged than were non-backdating chiefs of a control group of similar companies. In fact, 24.1 percent were forced out among the former versus 5 percent among the latter. "For CFOs," the study notes, "the comparable figures were 24.8 percent and 7.8 percent."