Wednesday , September 28 2022

Why Top Managers Repeatedly Reflected Love Stories – SonntagsZeitung


And this. The love story of retired Raiffeisen patron Patrik Gisel, with a former board member of the group, is triggering the desperation of shaking his head in the economy. It is the last anecdote of a series of embarrassments that the former head of the largest Swiss bank has done in recent months. Gisel first read about his relationship with his adoptive father, Pierin Vincenz. Then, too late, he realized he became unsustainable due to the scandal surrounding Raiffeisen Bank. And now he's making a love affair with an ex-board member. Although Laurence de la Serna resigned from the Raiffeisen Council in mid-June. But how long the connection took place is unclear. It seems that Gisel also put the books on the table too late in this case.

He is not the only one who risks his head and neck for love. Only in June, Brian Krzanich, the head of the Intel chip maker, released the post because he had an affair with a colleague. The same fate happened to last year's Priceline boss, Darren Huston. In the US, the non-dating rule is stricter than here. In Switzerland, business leaders also engage in love stories in their company.

Other laws apply to company executives

Some are an open secret in the company, others are even institutionalized: Pierin Vincenz's wife, for example, led the legal service of Raiffeisen. Dominique Biedermann, former chairman of the Ethos investment foundation, also worked with his wife in the same company. Both were later criticized – rightly so. Although work is one of the most common places, couples know each other. However, other directives apply to executives. They are well paid. And they have to face the restrictions: for example, not to be involved in the business because they lead to conflicts of interest.

Patrick Gisel's case is the most flagrant: sitting in a board member is a mortal sin. "Relationships in a relationship of dependence are a respite," says Matthias Mölleney, head of the Center for Human Resource Management and Leadership at the Zurich School of Economics. Mölleney has accompanied such delicate cases several times during his career as director of employment of large corporations. He repeatedly observes the same type of behavior among managers when faced with the business. "In the first place, the relationship is rejected and then reduced." In a third step, the executives are convinced that they are able to separate their professional role and private love story and have everything under control. "In practice, however, there is only one solution: one of the two parties involved in looking for a job where there is no subordinate – and rapid relationship.

"Business is sometimes viewed as part of power"

Because bosses fear such consequences, they usually try to keep the business under cover, rather than immediately reveal it, as it would be. Not seldom, they feel supported by the business unit, which deals discreetly with the deal. "The closed circle in which CEOs are moving promotes such behavior, because businesses are sometimes seen as part of the power," says Bernhard Bauhofer, a reputation management expert. In the age of transparency, it is impossible to keep a secret love story.

In addition: Shareholders and directors of today's moral public rate much more stringent than before. For example, the proportion of executives who were fired for ethical reasons has increased significantly both globally and in Europe. This was demonstrated by a study by the PWC consultant giant. For the international management consultant and author Sonja A. Buholzer, it is clear: "If there are no humble top humble administrators, their personal standards are set in relation to themselves. It is therefore right for firms to be measured from what all the more if their executives act with integrity. "

(Sunday newspaper)

Created: 10.11.2018, 21:26

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