In the early to mid-2000s, Dennis Kozlowski became something of a poster child for corporate greed thanks to his exorbitant pay package and other perks, including the well-publicized $6,000 shower curtain.
As you no doubt remember, the former Tyco CEO was convicted in 2005 of grand larceny, securities fraud and conspiracy and was sentenced up to 25 years behind bars. So it’s been quite some time since we’ve last heard from him—until today.
In an exclusive interview with Wall Street Journal writer Joann S. Lublin, Kozlowski talks about the past, including Tyco’s controversial pay practices. It makes for an interesting read.
On his pay package, Kozlowski tied it to being the “competitive person I am,” telling the journal it was “a way of showing how well I was doing.” No doubt. But I also felt, after reading the piece, he still feels a need to deflect some of the responsibility.
The Journal article said:
The disposed Tyco chief also wished he had chosen more seasoned people for his top team. ‘The lack of documentation was the key’ in his conviction for taking unauthorized compensation, he said. ‘We needed somebody to rein us in.’
Wonder who he’s referring to?
The story also points out that Kozlowski (who is now earning 80 cents a day doing laundry) is seeking early work release and wants to take a job with Access Technologies Group, whose offerings include job-search training for ex-convicts. Were he to be granted that opportunity, I suppose that means Kozlowski’s path back to the workplace will ironically pass, at least indirectly, through HR.