Word: winokur
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Following the resignation of Herbert S. “Pug” Winokur ’64-’65 from the Harvard Corporation amid controversy over his role as chair of the Enron finance committee, the Corporation appointed another businessperson tainted by the Enron fiasco...
With the opportunity to appoint a new member to replace Winokur, the Corporation should relinquish a bit of its power and allow those affected by the decision—students, faculty, workers and alumni—to make the selection. A committee to select the new Corporation member should include representatives elected by each group. It should have binding decision-making power, rather than being yet another advisory group whose recommendations the University can summarily reject or significantly modify...
Beyond the issue of finding a replacement for Winokur, immediate changes in the Corporation’s procedures are necessary to demystify Harvard’s governance and make it just a bit more democratic...
Just two days after Herbert S. “Pug” Winokur ’64-’65 resigned from the Harvard Corporation because of his involvement with Enron, the Corporation concluded its secret deliberations for selecting a member to fill another Corporation vacancy. They chose to appoint one of Enron’s bankers, the Chair of the Executive Committee of Citigroup, Robert E. Rubin ’60, to join their ranks. Although Winokur’s resignation was meant to reduce the Harvard Corporation’s connection to Enron, no one should...
...from seizing the opportunity to purge itself of Enron’s taint, the Harvard Corporation, in choosing Rubin, is adding to its Enron infection. Winokur, acting as the chair of the Enron Finance Committee, oversaw the suspension of the company’s ethical standards and the creation of a number of partnerships that Enron used to defraud its investors. Meanwhile, Citigroup, according to the complaint filed against it by Enron shareholders, allegedly “hid loans, set up false investments and facilitated phantom Enron sales” for the energy giant...