Hollinger International and Conrad Black: The Corporate Governance Conundrum



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Code : GOV0015

Year :
2005

Industry : Publishing

Region : USA

Teaching Note:Not Available

Structured Assignment :Not Available

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Abstract: Hollinger International, the publishing division of Hollinger Inc., is an organisation based in USA that owns many newspapers. Lord Conrad Black (Black) was the Chairman and Chief Executive of Hollinger International who along with his friend David F Radler controlled the Hollinger Inc.'s operations through Ravelston, their private equity vehicle. In the year 2003, Tweedy Browne Co., a New York-based investment firm approached the Securities Exchange Commission to conduct a corporate governance review of Hollinger International. Black was forced to resign in November 2003. The report accused Black and his associates of robbing the company of millions of dollars. The final outcome of the Hollinger case is far from decided.

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Pedagogical Objectives:

  • To understand how an inactive board, an ineffective audit committee and a dominant CEO (Chief Executive Officer) can damage the corporate governance structure, which can be detrimental to shareholders' interests
  • To discuss the role of directors and whether they should be held financially accountable for neglecting their responsibility to protect the interests of minority shareholders.

    Keywords :Corporate Governance Case Study, Chicago, Newspaper, Ravelston, Hollinger International, Conrad Black, Barbara Amiel Black, Richard Perle, Tweedy Browne, Richard Breeden, Securities Exchange Commission, Corporate governance, Minority shareholders.

    Contents :
    An Overview
    Scandal Surfaces at Hollinger International
    The Waves of Scandal
    The Findings by SEC


    Case Introduction >>


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