Résumé Padding and Corporate Governance Failure at Samsonite

Résumé Padding and Corporate Governance Failure at Samsonite

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  • Teaching Notes
Abstract

This case reviews the June 2018 exit of Ramesh Tainwala as CEO of Samsonite, the global leader in the manufacture and sale of suitcases and luggage. It was not clear if Tainwala resigned for résumé padding (i.e. falsifying educational qualifications) or corporate governance issues raised by a short seller, Blue Orca Capital. Blue Orca accused Tainwala of falsifying education qualifications and other inappropriate related party transactions his family-owned companies had with Samsonite, which Tainwala denied. The short seller also accused Samsonite of inappropriate governance practices during the acquisition of the Tumi brand in 2016, which resulted in Samsonite’s overvaluation. Samsonite, nevertheless, showed confidence in the capabilities of Tainwala and accused Blue Orca of presenting a one-sided picture for its own gains. This case encourages students ...

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