Kenneth Lay Essay

Born on 5th April 1942, Kenneth lay was your typical rags to riches story. Lay grew up in Tyrone, Missouri, the son of a poor farmer and part time preacher, he would later come to have a PhD in economies and lead one of the USA’s top 10 largest corporations. (biography.com) Joining the Florida Gas Company in 1974, Kenneth Lay moved quickly through the ranks becoming president of the then Continental Resources Company, he continued his career in the energy industry, claiming jobs in Transco Energy Company, Houston and three years later Houston Natural Gas Co. as Chairman and CEO. In 1985 a merger with InterNorth gave birth to Enron, one year later, Kenneth Lay was appointed Chairman and CEO of this company as well (biography.com).

He used the boards’ lax oversight to forge political alliances and compromise members of the board itself. Kenneth Lay would funnel donations to strategic non-profit organisations, targeting its members to curry favour. The Anderson Cancer Centre is estimated to have benefitted off an accumulated $1.3 million worth of Enron donations, a hefty sum but passed through the board of governors with ease seeing as one of its members, John

And when they didn't work, they'd say, 'Let's spend more on another business.” Kenneth Lay as CEO and chairman was the one chiefly responsible for the management of the corporation. The bad organization and failures of the company lay squarely on him and his management style. Perhaps most shocking of the whole Enron affair was Lays tenacity to purporting innocence. As was reported in Kenneth Lays 60 minute interview “Lay blames Fastow, not just for stealing, but for mismanaging Enron's finances and wrecking public confidence in the company”(cbsnews.com). Throughout his testimony and ultimate death Kenneth Lay refuted all blame for the failings of