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Think of organizations that have been in the news in the last few years because of...

Think of organizations that have been in the news in the last few years because of scandals. Identify two organizations that had scandals due to compensation issues around incentives, base pay or benefits.

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Answer #1

1. Financial services company Wells Fargo

This company was involved in a scandal due to its aggressive incentive program where the front line employees of the bank manipulated the accounts of its customers in order to earn higher incentive payouts. The brokers of the company opened around 2 million fake bank accounts of customers without their knowledge or consent just to earn bonuses.

2) Valeant Pharmaceuticals

The company had paid its then CEO Michael Pearson an extraordinary amount of incentive compensation awards, primarily options and stocks) valued at $16 million for attaining some three year compounded total returns of the shareholders.

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