Egg's scrambled reputation no real cause for CE resignation

egg-broken-98g.jpg Broken egg pic at

From Forbes: Ian Kerr, chief executive of Egg Banking, a UK Internet bank, resigned on Tuesday. Despite an Egg spokeswoman saying Kerr had left for personal reasons, media pundits have insisted that Kerr stood down because Egg found itself in the midst of controversy for ending its credit card agreements with 161,000 customers, who they deemed to be ‘poor debt risks’. Problem was, many of those they planned to dump weren’t bad customers at all – many had excellent credit records. Expert pundits therefore speculated that Egg was actually ridding itself of ‘unprofitable’ customers who actually paid their debts on time.
But is this a matter over which a CE should resign? Isn’t it more appropriate to rap the knuckles of the DM and database management team who possibly hadn’t analysed or washed the data properly? Why do we always have to try to hang the top guy from the tree? And until a proper external investigation is concluded, shouldn’t we take Egg’s message that Kerr resigned for personal reasons at face value? This is a salient reminder of how media stakeholders are prepared to act as judge, jury and executioner – condemning a man as ‘guilty’ before a proper ‘trial’ can be undertaken.

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