Staying in character
In a week of bad to so-so news from the banks, one story stands out. Ed Clark, CEO of TD Bank, today announced he will exercise some $20 million in options, keep 15 per cent for himself in bank shares, give away $8 million to charity and use the rest of the money to pay for the cost of the options as well as taxes owing. Of all the definitions of leadership that I’ve ever heard, this ranks with the best. Clark started his working life as the most reviled bureaucrat ever to offend business. As a public servant in...
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