You Know Your Legislation Has Gone Awry When . . .

I got an unbelievable email today. It read:

I've been assisting my clients on their BOD searches (especially CFO/Audit Committee/Sarbanes-Oxley types).

Examples of my current candidates interested in
Board opportunities:
-Former PeopleSoft CFO
-Former Intuit CFO
-Former Novell CFO
-Former LSI Logic CFO
-Former Redback Networks CFO
-Former NVIDIA CFO
-Former Sanmina CFO
-And I have other candidates similar to these, in most
industries (ie, Semiconductor, Software, Networking,
Biotech, etc)

Let me know if you have an interest in talking with
any of them in regards your current Board openings.

Ridiculous. I am deeply skeptical of the broad efficacy of Sarbanes-Oxley in combatting corporate corruption. Worse yet, look at what it has spawned. Never before have former CFOs been in such demand. That can't be a good sign.

Comments

[Nick Batchelor]

80:20 Software (www.80-20.com)is an interesting example of an early stage software company benefiting from Sarbanes-Oxley. They have a product called Leaders Online which is being used by Fortune 500 companies to manage the information going to board members are provide an electronic paper trail to confirm that board members behaved in a diligent manner. Might not drive an industry off the back of fear, but might just build a solid software offering?