Broadcom Names Strong Diversity Proponent as New GC
Broadcom Corp. has hired a new general counsel after a backdating scandal that led to the resignation of the man who once held the position.
The new GC is Arthur Chong, who was deputy general counsel at the McKesson Corp. when it survived an accounting scandal, the Recorder reports. His most recent job was as general counsel for Safeco.
Chong is a strong proponent of diversity. He told a minority counsel conference in 2006 that he once barred a law firm from bidding on corporate work because of its lack of diversity, the story says.
Chong replaces David Dull, who took a leave of absence in May after the U.S. Securities and Exchange Commission filed a civil complaint against him. It contends Dull took part in a scheme with other corporate managers to backdate stock options and personally benefited by exercising backdated grants, according to an SEC press release.
Broadcom agreed to pay a $12 million fine in April to settle another options backdating suit that the SEC filed against the company.
