National Stock Option Amnesty Month
The VAR Guy woke up this morning with a grand vision that solves all of the current stock option backdating scandals. Instead of torturing investors week by week with new stock option probes, it’s time for corporate boards and CEOs to prepare for “National Stock Option Amnesty Month.”
Under this radical program, CEOs and corporate boards would spend now through December 31 investigating their stock option programs. If they discover any backdating issues, the CEO will agree to step down on January 1, 2007.
Imagine that: A single day where every company comes clean and moves forward. CEOs who resign would simply say they’re leaving to “spend more time with their families.” Investors, customers and partners would all be big winners. Executive search firms would be flooded with new opportunities to fill. (But would they have any CEO candidates to fill them?)
Has The VAR Guy lost his mind by suggesting National Stock Option Amnesty Month? Perhaps. But it can’t be worse than the current situation. From McAfee to Sapient to United Health, stock option backdating scandals are pure torture.