"CEOs, once admired as the bastion of ethical leadership, are today in decline and disgrace," writes PR counselor Fraser Seitel. "The unmistakable conclusion from the spate of recent damning disclosures is that the 'credible CEO,' like the 'trusted Catholic priest' or the 'entertaining Woody Allen movie,' is an endangered species." Seitel explains why faith in CEOs is at "an all time low" by pointing to examples of "the CEO species that cheats, swindles, steals or embezzles" including Tyco International's Dennis Kozlowski; Alfred Taubman, the billionaire former owner of the Sotheby's auction house; Adelphia Communications CEO John J. Rigas; and, of course, Enron's Ken Lay.
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