Carol Hansell Comments on MDC Partners Departure
July 23, 2015
The “crisis” created by a regulatory probe of MDC Partners Inc. is far from over despite the departure this week of chief executive Miles Nadal and his repayment of more than $20 million in previously claimed expenses and retention bonuses, legal and governance experts say.
. . .
…Carol Hansell, a governance expert and founder of Hansell LLP, said she did not want to directly address the situation at MDC, but she said companies caught up in regulatory probes can apply good governance measures to help control the situation.
. . .
…“That process is particularly important where the conduct of the CEO is at issue,” Hansell said. “In those circumstances the board should not be relying on advice from counsel who has advised the CEO or management team.”
. . .