Tuesday , January 31 2023

Why top managers repeatedly fall into love stories – SonntagsZeitung


That too. The story of a love affair with a former executive council member of Patrik Gisel, a retired Raiffeisen boss, incredibly shakes his head in the economy. This is the last episode of a series of awkwardness that has been made by the former president of the third largest Swiss bank in recent months. Gisel first read about his relationship with his fallen foster father, Pierin Vincenz. But too late, he realized that he could not continue because of the scandals surrounding Raiffeisen Bank. And now he has a love affair with all members of the Supervisory Board. Laurence de la Serna resigned from the Raiffeisen board in mid-June, but it is unclear how long the contact has lasted. Gisel seems to have put the card on the table too late.

He is not the only one who puts his love for his head and neck at risk. In June, American chip maker Intel's Brian Krzanich had an affair with his colleagues. Last year, Priceline president Darren Huston was the same. In the United States, dating ban rules are more stringent here. In Switzerland, business leaders are participating in a love story at their company.

Other laws apply to the president of the company.

Some are company secrets, others are institutionalized. For example, Pierin Vincenz's wife led Raiffeisen's legal services. Dominique Biedermann, Managing Director of Investment Fund Ethos, also worked with the wife of the same company. Both were criticized later. Work is one of the most common places for couples to know each other. However, other laws apply to CEOs. They receive good pay. And they have to adhere to the restrictions: For example, not engaging in the company's work can lead to conflicts of interest.

The case of Patrik Gisel is the most brazen. Sitting as a member of the Supervisory Board is a desperate sin. Matthias Mölleney, head of the Human Resource Management and Leadership Center at the Zurich School of Economics, said: "Dependent relationships are not absolutely critical. Mölleney has been accompanied by several occasional cases during his career as a major employer. When faced, we observe the same pattern of behavior repeatedly among managers. "First, relationships are negated and ignored. And in the third stage, the executives are confident that they can separate their professional role and personal love story and control everything. "But actually there is one solution: one of the two parties looking for a job without a secondary relationship – quickly.

«Sometimes affair is considered part of power»

Because my boss is afraid of such results, I usually try to keep the case under the lid instead of immediately disclosing it as it is right. It is not uncommon, but I feel that it is supported by the business that takes care of the business carefully. "Closed circles, where the CEO moves, encourage such behavior, which sometimes appears as part of the power," says Bernhard Bauhofer, a reputation management specialist. In the age of transparency, it is no longer possible to keep the love story secret.

CEOs of shareholders and the general public are morally much more stringent. For example, the percentage of CEOs who have been dismissed for ethical reasons has increased dramatically across the globe and in Europe. This is the result of PWC, a consulting giant. It's clear to Sonja A. Buholzer, an international management consultant and author. "Without a modest and humble CEO, their personal standards are set in relation to themselves, so it's right that companies are increasingly evaluating executives' integrity."

(Sunday newspaper)

Created: 10.11.2018, 21:26

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