Corporate Advisory

Wells Fargo boss urged to resign over accounts scandal

If a leader states that they “take responsibility” (as the CEO here has done) and that includes responsibility for illegal as well as unethical acts, what should they do (as opposed to say and offer apologies) to make taking responsibility authentic? How can they terminate employees and managers who were also “responsible” and remain in post? Not long ago company executives found it hard to even apologise for issues like this. But it is really a step forward for ethical business standards to talk about apologies and responsibility and contrition while refusing to do anything that gives those statements substance? Double speak and double standards?