Quest CEO Jerry Cash has been removed from his position after diverting some $10 million of company funds into a personal account.
I don’t know Mr. Cash’s track record, but this latest scandal is dripping with irony. For example, do you think any Quest board members worried that, in hiring a guy with such a surname, Cash might play loose and fast with their organization’s funds? Are there one or two directors who now find themselves shaking their heads and sighing, "Damn, why didn’t we pick that guy named Francis Fiscally Responsible when we had the chance? Or, what about Louise Long-term Growth? She was a viable candidate."
To their credit, the Quest board acted quickly to ditch the Cash problem. In fact, one might say they cashed out. Sadly for Mr. Cash though, his attempts at cashing in were uncovered. And, the only cash stashing on this former chief executive’s horizon will probably involve Cash’s checking into a minimum security prison.
Let’s hope the Quest board does a better job of vetting surnames in their next search. "So, Mr. Sarbanes, I see you’ve had some legislation named after you? Tell us more."