CEO Today Magazine April 2018 Edition

www.ceotodaymagazine.com 16 SPECIAL FEATURES CONTROVERSY AND THE DEATH OF THE EXECUTIVE By Louisa Rochford A person in a position of leadership will have a plethora of factors, problems and objectives buzzing around their head at all times. Among the vital things to keep track of on a day-to- day basis is productivity, the depth and quality of their management, business and industry knowledge, investors, profits… and the list goes on. But some have been most challenged in a far different arena: likability. As Owler’s list of most liked CEOs indicates, the top three are Craig Jelinek of Costco, Arne Sorenson of Marriott and Richard Fairbank of Capital One. The main thing these three have in common: lack of global scandal and infamy. Even the lowest on the list don’t have that kind of calamity attached to their name. In comes those that have widespread notoriety for their unfavourable actions that lead to worldwide criticism. Ajit Pai is one such businessman, the Chairman of the Federal Communications Commission (FCC) and the face of Net Neutrality’s repeal. Put in place to ensure internet service providers didn’t discriminate pricing depending on user, content, website or platform, Net Neutrality prohibits the largest providers like AT&T, Comcast and Verizon—at which Pai previously served as Associate General Counsel— from prioritising their services over others. SaveTheInternet, a website created in Net Neutrality’s defence, explains fully the daily impact it plays in our lives without us realising and the importance of its maintenance. However, on December 14th 2017, the repeal was approved despite worldwide protests and criticism. The day before the hearing, Pai released a video entitled 7 Things You Can Still Do on the Internet After Net Neutrality, in which he danced to the Harlem Shake and purchased a lightsabre online, which only added to the distaste working against Pai’s favourability. The creators of the Harlem Shake even threatened to sue Pai over its use, and Mark Hamill criticised him on Twitter, calling him “profoundly unworthy 2 wield a lightsaber-A Jedi acts selflessly for the common man-NOT lie 2 enrich giant corporations.” He inevitably cancelled his attendance to various events due to the reaction of the public and alleged threats he received as the result. As of February 2nd 2018, Congress has 60 days to stop the repeal with the Congressional Review Act— after which, they will be unable to, and the rules as informed by the FCC to the senate will be repealed. Even more widely loathed is former businessman and current convicted felon, Martin Shkreli. His reputation as the most hated man in America first budded in September 2015, when the company he founded, Turing Pharmaceuticals, obtained the manufacturing rights to Daraprim, a drug used in prevention for malaria and treat toxoplasmosis. He subsequently repeated a previous controversial action from 2014 when he hiked the price of tiopronin – a drug that treats cystinuria, a rare disease — from $1.50 to $30 per pill. In this case, he raised Daraprim’s price from $13.5 to $750 per pill, or by a factor of 56. This stark change in price was immediately criticised by the Infectious Diseases Society of America, the HIV Medicine Association and the Pharmaceutical Research and Manufacturers of America. Consequently, it was also criticised by then-presidential candidates Hillary Clinton, Bernie Sanders and even Donald Trump, who referred to Shkreli as a “spoiled brat.” As Business Insider reported, Shkreli defended his actions as a means to make a profit on the drug, with Trump continuing: “I thought it was a disgusting thing, what he did. I thought it was a disgrace.” Shkreli finally faced retribution for his various controversial actions in December of 2015 onwards, which involved innumerable charges of securities fraud. He was ordered to forfeit assets worth $7.4 million on 5th March 2018, and later that week, he was ultimately sentenced to seven