Risks appreciated in life, not business

New York: The death of Micron Technology Inc chief executive Steve Appleton in the crash of his self-built experimental plane is raising fresh questions about what a company should disclose to investors when a senior executive has a high-risk hobby.

There are plenty of corporate chieftains who indulge in risky pastimes. Oracle Inc CEO Larry Ellison, a sailor and pilot whose adventures are part of his Silicon Valley mystique, competed in the storm-plagued 1998 Sydney to Hobart Yacht Race. Six men died and nearly two-thirds of the boats in the race did not finish.

Other CEOs engage in pursuits that might be considered dangerous for anyone, not least US Airways Group Inc chief executive Doug Parker who has run with the bulls in Pamplona.

"It's very important that a public company CEO be candid with the stakeholder audience whether that's an investor or the people who he works with," said Hank Boerner, chairman of the Governance and Accountability Institute.

Boerner likened it to people seeking the US presidency.

By aspiring to the office, they acknowledge that they must give up a certain amount of privacy and activities that could interfere with their ability to serve.