Unformatted text preview: on August 14—gave no reason
for his departure.
By mid-August , the stock price began to fall
Former CEO, Kenneth Lay, returned in August
Oct. 16…announced $618 million loss but not
that it had written down equity by $1.2 billion
October…Moody’s downgraded Enron’s debt
Nov. 8…Told investors they were restating
earnings for the past 4 and ¾ years
Dec. 2…Filed bankruptcy
© 2003, 2005 by the
AICPA Executives Abandon Enron
Rebecca Mark-Jusbasche, formerly CEO of Azurix,
Enron’s troubled water-services company left in August,
Joseph Sutton, Vice Chairman of Enron, left in
Jay Clifford Baxter, Vice Chairman of Enron committed
suicide in May, 2001
Thomas White, Jr., Vice Chairman, left in May, 2001.
Lou Pai, Chairman of Enron Accelerator, departed in
Kenneth Rice, CEO of Enron’s Broadband services,
departed in August 2001.
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