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CEO Letters Evade Truthfulness

CEO Letters Evade Truthfulness

by Rick Turoczy on May 22, 2006

Laura Rittenhouse, author of Do Business with People You Can Trust: Balancing Profits and Principles, has been monitoring CEO candor for a while now. Based on a survey of CEO letters to shareholders last year, she has noted: “The passage of Sarbanes-Oxley legislation in 2002 was intended to promote clear and transparent disclosure, but only 24% of the companies in our 2005 survey were awarded top marks in candor, down from 57% in the 2002 survey. While many executives are certifying their results to comply with Sarbanes-Oxley, they are also publishing virtually unintelligible shareholder letters. If they cannot candidly articulate their goals and results, then how can they credibly walk their talk?”

CEO Letters Evade Truthfulness

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