EqLife ceo calls former board 'incompetent'

In his second appearance before the European Parliament’s committee of inquiry into the Equitable crisis, Charles Thomson stated the new director appointed in 2001 had to “pick up the pieces” of the collapse. Commenting on the previous board of directors, Thompson said there was “little evidence that what they did was done with malice or greed”, although he admitted to the MEPs that “they may have been incompetent”. In referring to the difficulties experienced by Equitable Life, he also pointed out that while accidents could happen, he told the committee he “had some difficulty believin...