The chief financial officer must be the most ethical person in his or her company. Each stakeholder of a company – employee, investor, management, customers, suppliers, and the greater community – relies on the CFO for integrity and transparency. As such, it is not surprising that the CFOs are more likely than other employees to face ethical dilemmas in the course of executing their responsibilities. In this program, our guest speaker, Howard Root will discuss his experience he faced when a disgruntled former employee made a false accusation, the trial that ensued and the end result. He will address ethical leadership and what kind of whistle-blower policies CFOs should be considering.
After attending the program, attendees will understand:
- Identify attributes of a “typical” defendant/subject
- Understand whistleblower protections
- Identify risks posed by subordinates and former employees
- Recognize recent trends in enforcement and investigations
- Understand the role of compliance
- Understand ethical dilemmas with securities holdings
Howard Root started his career as a corporate lawyer but soon turned into an entrepreneur and never looked back. He founded the Minnesota medical device company Vascular Solutions in 1997 and continued to run it for 20 years, inventing and launching over 100 new cardiovascular devices and creating over 650 U.S. jobs along the way. In February 2017, Howard sold Vascular Solutions to Teleflex for $1 billion.
The motivation behind the sale of Vascular Solutions is a true-life legal nightmare. It started out as a false accusation by a disgruntled former employee, and culminated five years later in a San Antonio courtroom with “not guilty” verdicts on all charges after a five-week criminal trial. Even a single guilty verdict would have excluded Vascular Solutions from selling any of its medical devices in the U.S. and sent Howard to prison for years. This was a federal criminal prosecution over the words spoken by a few of the company’s salespeople about an FDA-cleared medical device that constituted only 0.1% of the company’s sales and never harmed a single patient, yet required a defense team of 121 lawyers at a cost of $25 million.
Click here to learn more about CFO Leadership Council.
To register for this program, simply complete the online form. Current CFO Leadership Council members may attend this program for free. Non-member senior financial executives who are CFOs, Vice Presidents of Finance, Directors of Finance and Controllers (or the like) are welcome to attend this program for $60.
Please note that service providers or any executives who are not senior financial executives (CFOs, Vice Presidents of Finance, Controllers, Directors of Finance, etc.) will not be admitted attendance to this event. The CFO Leadership Council reserves the right to decline any registration.
For more information about this program or The CFO Leadership Council, please contact Mary Christensen, Marketing Director, Minneapolis/Saint Paul Chapter at firstname.lastname@example.org.
If you would like to cancel your ticket or request a refund, please contact email@example.com. Refunds are available up to 24 hours prior to the program.
Instructional method: Group-Live
Recommended CPE Credits: 1.5 CPE credits in Ethics
Experience Level: Basic
Prerequisites/advance preparation: None
The CFO Leadership Council is registered with the National Association of State Boards-of-Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors (Sponsor ID 109063). State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org