Former Broadcom HR Exec to Plead Guilty?
In what’s being viewed as a wake-up call to HR leaders around the globe, Nancy Tullos, Broadcom’s former VP of HR, reportedly plans to plead guilty to obstructing justice in connection with the company’s alleged stock option backdating scheme.
The alleged scheme resulted in Broadcom restating its financials for more than $2 billion. In addition, Broadcom’s investors have filed a lawsuit accusing the company’s directors of misusing corporate assets and breaching their fiduciary duties by allowing the backdating.
Broadcom’s audit committee reportedly blamed the scandal on Tullos and former CEO Henry Nicholas and former CFO William Ruehle.
The lesson? It’s pretty simple: Failing to do the right thing as an HR leader can land you in jail.
