I have posted one of the business leaders I admire recently. This post, yes, is about the leader who has done the worst job in his area in my perspective. His name is Jon Cornize, (you might never heard of him before) the former chairman and chief executive officer of MF Global Holdings Ltd:

Jon Cornize lacks many qualities to be a good leader. Although, he has held several positions of leadership, he was never held in respect due to his distrustful behaviour. He had a clear goal for his career to pursue development in the company, but his leadership at MF Global failed.People lost faith in him due to frequent business lies and his investigation by the FBI. When leaders lie, whatever the circumstances, rationalization and excuses, and bad things always follow. His untruthful behaviours caused allegations of malfeasance for missing 633 million dollars of clients’ funds; his egocentrism hurt employees and shareholders.

Despite such concerns, Corzine obstinately persisted in his opinions on making bets on European sovereign debt. Above all, he was lacking responsibility as a leader. Instead of taking the blame, Corzine rather blamed predecessors for MF Global’s fall. He just tried hard to cover up his mistakes and did not try to learn from his mistake. Eventually, he drove the company to ruin with his excessive investment and caused huge losses of about 6.3 billion dollars, and was branded as one of the worst CEO in the United States.

Reference:

http://topics.wsj.com/person/C/jon-corzine/6019

http://topics.nytimes.com/top/reference/timestopics/people/c/jon_s_corzine/