Noting South Africa’s 50 million population, with 5.6 million people HIV-positive, Yogan joked, “As I get older, I’m believing more and more in a cookie-cutter approach.” There’s something to that, though local context is extremely important.
- Rethinking the Cookie Cutter: Observations from the International AIDS Society Conference, SkollFoundation.org, July 27, 2017.
3. cookie-cutter excuses:
MICHAEL WOODFORD was sacked as president of Olympus last year after he revealed a $1.7 billion accounting cover-up. The board of the Japanese cameramaker lied about the mystery for weeks. When the truth at last came out, the board kept their jobs and the whistleblowing boss lost his. Mr Woodford called it a “black comedy”. In no other developed market, he lamented, could this happen....
For many, the Olympus scandal highlighted the need for more checks and balances. Mr Woodford (pictured), whose angry memoir is to be published this month, likens Japanese boardrooms to “Alice in Wonderland”. They need more assertive shareholders and regulators, and more independent directors, he reckons.
Keidanren, Japan’s big-business lobby, appears to have drawn the opposite conclusion. Olympus had three external directors, a high number for Japan. (Never mind that they were largely tame; Mr Woodford recalls them acting like “children in a classroom” when the then chairman, Tsuyoshi Kikukawa, called for a show of hands to oust him.) The problem, in Keidanren’s view, was too much external scrutiny.
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