I really wonder why the press has concentrated so much attention on the ex-president of Nova. True, he seems to have been an unscrupulous business man, and if he is ever charged and found guilty of illegal practices, then as an unpaid ex-Nova employee, I would be happy to see the law take its course.
However, why only the president? Nova was a public company with shares on the stock exchange and a board of directors. Does responsibility for company practice rest only with the president? What about the directors? Where were they when the dealings with Ishikawa Bank were going on?
What were the directors doing when they voted the president huge salary payments even though the firm was declaring trading losses? And, more importantly, why didn't the directors force corrective action years ago when Nova's sales practices came under the scrutiny by the courts? Consumer affairs authorities have been complaining about Nova's sales policy for years. The protests are nothing new. Maybe the directors were out-voted based on their shareholdings, but one's level of responsibility and honesty does not depend on the number of shares one holds.
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