The Worst CEOs in the Telecom Industry
Printer Print Email Email
Joseph P Nacchio
The Worst CEOs in the Telecom Industry
Nacchio was the CEO and the Chairman of the board of Qwest Communications International from 1997 to 2002. He came into scrutiny after rumors of insider trading started flowing in during the early 2002. Being the CEO of the company he had firsthand knowledge of the diminishing financial prospects of his company, and instead of letting the stakeholders know this situation he decided to use the information to make himself rich. He sold a majority of his stocks way before the price fell from $38 to below $2. This, plus the accounting scandal during his term, which the company was fined for, has made sure a position will be reserved for him in the worst CEOs of the telecom industry list. The court found him guilty for 19 counts of Insider trading, fined him millions, ordered him to forfeit the money he made from this and send him to prison. A much deserved punishment, without doubt.

Digital Supply Chain Transformation – Winning the AI/ML Way