Toxic leadership has brought Eskom and other public sector organisations to the brink of collapse. Should Eskom fail, it would be bigger than the failure of US energy company Enron nearly 20 years ago, said forensic investigator Paul O’Sullivan, speaking at a CFO Talks debate on toxic leadership in Midrand this week.
The surge in corporate scandals is symptomatic of the rise of toxic leaders, said Nicolaas van Wyk, CEO of the SA Institute of Business Accountants (Saiba). “I’m a Christian, but whenever I see someone whip out a Bible in the boardroom, I become suspicious. We need to be far more vigilant in our dealings in business and insist on a return to goodness and the rule of law.”
A study of 261 senior professionals in the United States found that 21% had clinically significant levels of psychopathic traits. That’s equivalent to the rate of psychopathy in the prison population, versus about 1% in the general population. Read more on Accounting Weekly.