3 June 2002: Tyco's CEO resigns ahead of a tax indictment
On June 3, 2002 Dennis Kozlowski resigned as chief executive of conglomerate Tyco International amid a tax investigation, and the shares tumbled. He was soon charged with avoiding sales tax on expensive art, and later convicted of looting the company with another executive. Details like a $6,000 shower curtain made the case a symbol of the era's corporate excess.
The lesson: Lavish executive spending is a red flag; how management treats small sums reveals how it treats yours.
Could you have called it at the time? The wheel picks the year, you pick the position, ten seconds a pick.
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