How could AT&T Board not know about the Zucker-Gollust relationship?
How long has the SOX requirement been in place to have an effective whistleblower process at public companies? Nearly twenty years. The new CEO at NBC not knowing there was a long-term problem at CNN shows how ineffective NBC’s processes are in policing corporate cultural issues.
Yes, the whole point of SOX was it improve the corporate culture so we could avoid issues that would affect the valuation of public stock. Maybe the SEC should open an investigation of AT&T concerning its compliance with SOX Section 404!
My message to AT&T is that if you going to ask the public for money to run your enterprise you need to take having good values seriously.