FIFA & Corporate Governance Failures News

Corporate governance is a topic covered on The Guardian Podcast with Ryn Melberg regularly and especially when issues involving governance are in the news. That is the case this week as members of the governing board of FIFA, (which rules over the world of professional soccer, the most popular sport in the world), are under incredible scrutiny.  14 FIFA and other sports executives are already facing criminal indictments. One of the FIFA leaders was recently fired for making joke on a Swiss radio program.

Facts About FIFA Failures

  • Federal prosecutors here in the USA allege that not one but two generations of soccer executives used partnerships with sports marketing companies to solicit $150 million in bribes and kick backs in exchange for among other things, their support for the sites of FIFA World Cup Events from the qualifiers to the 2010 World Cup.
  • A 47-count federal indictment was unsealed in Brooklyn, charging 14 defendants — nine FIFA officials and five corporate executives — with racketeering, wire fraud, money laundering and bribery, among other offenses, in connection with a near quarter-century scheme to enrich themselves through their management of the sport.
  • 7 FIFA officials arrested in Switzerland face the possibility of extradition to the U.S.
  • “The indictment alleges corruption that is rampant, systemic, and deep-rooted both abroad and here in the United States,” U.S. Attorney General Loretta Lynch said in a release ahead of a news conference in New York.

Of course we need to remind everyone reading this and listening that at least here in the U.S. all suspects are considered innocent until proven guilty in a court of law.

Ryn The Guardian Melberg describes for listeners what to do when conflicts about governance arise in their workplaces, and also gives reasons to be optimistic about the future of corporate governance .

Leave a Reply

Your email address will not be published. Required fields are marked *