Eric Pillmore: Resilient podcast

Eric Pillmore, former SVP of corporate governance at Tyco, on rebuilding trust after crisis

Eric Pillmore spoke with Deloitte Risk and Financial Advisory’s Mike Kearney about joining Tyco International just after larceny charges were filed against the CEO and CFO in 2002.

As the senior vice president of corporate governance, Eric was tasked with determining what happened, discovering the root causes that led to fraud and larceny, and overhauling the corporate governance organization.

Make sure you listen to the people who care most about your company—the people who are betting their life savings on it and other investors’ money on it.

The recipe for success at Tyco included:

• Leaving no stone unturned in the investigation
• Being transparent at every step along the way
• Understanding the value of strong financial controls
• Reassuring stakeholders, who insisted on a complete overhaul of leadership

In its crisis recovery efforts, Tyco also aimed high: One of its goals was to become the gold standard in ethics and governance.

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Related article

Eric Pillmore, in a Wall Street Journal article, speaks about transforming Tyco’s company culture to one of strong ethics, compliance, and governance.

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