Where Boards Go Wrong- Hank Shea
Hank Shea, distinguished fellow at the University of St. Thomas School of Law and visiting professor at University of Arizona School of Law, talks with Markkula Ethics Center Executive Director Kirk O. Hanson about three common ways that members of corporate boards get in trouble: Three ways to get in trouble: 1) Most commonly, people make mistakes through acts of negligence or bad decision making, which creates civil liabilities. 2) An evolving area of the law deals with willful blindness, those cases in which a director is aware of problem and has the responsibility to do something about it but doesn't. Willful blindness can result in civil or criminal penalties. Outright wrongdoing by directors, such as fraud, can result in criminal penalties.