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Ethically, there is nothing wrong with offering or accepting substantial amounts of compensation. The board of directors of the New York Stock Exchange is responsible to those entities with an ownership stake in the exchange and nobody else. They are all financially savvy individuals and part of their job is to understand executive compensation. Therefore, it is reasonable that they paid Grasso an amount that they felt was fair. No ethical issue can come from that. It may look bad in the public eye, but Grassos compensation is a professional matter between him and the board. The firing of Grasso smacks of political pandering, and was unjust. Ethically and legally, a firing should be conducted on the basis of job performance, not optics

Case 7: Character is an essential component of leadership. A business is an organization of people, working towards a goal. The leader must be able to lead the people, and to do that must have their respect. Moreover, the CEO role is a position of trust. The board is entrusting the CEO with substantial amount of power and control. The CEO has that control on the understanding that they are working on behalf of the shareholders,

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