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Monster CEO Resigns Over Options Scandal
The CEO of Monster, Andrew McKelvey, has resigned as a result of the options back-dating scandal that has plagued the company. McKelvey cited his inability to meet the demands of running the company while also devoting the hours required for the probe into the company’s options granting process. Given the fact that the probe is being handled by outside counsel and outside directors, it seems a little strange that McKelvey would have to spend an inordinate amount of time with the investigation. We’ll see.
[tags]Monster, Andrew McKelvey, Options Backdating, Options Scandal, Corporate Scandal, White-Collar Crime, Excessive Greed, Corporate Fraud[/tags]