Kenneth Lay, Date of Birth, Place of Birth, Date of Death

Kenneth Lay

former chairman and CEO of Enron Corporation

Date of Birth: 15-Apr-1942

Place of Birth: Missouri, United States

Date of Death: 05-Jul-2006

Profession: businessperson

Nationality: United States

Zodiac Sign: Aries

Kenneth Lee Lay (April 15, 1942 – July 5, 2006) was the founder, CEO and Chairman of Enron and was heavily involved in the Enron scandal, a major accounting scandal that unraveled in 2000 in the largest bankruptcy ever to that date.
Lay was indicted by a grand jury and was found guilty of 10 counts of securities fraud in the trial of Kenneth Lay and Jeffrey Skilling.
Lay died in July 2006 while vacationing in his house near Aspen, Colorado, three months before his scheduled sentencing.
A preliminary autopsy reported Lay died of a myocardial infarction (heart attack) caused by coronary artery disease; his death resulted in a vacated judgment.Lay left behind "a legacy of shame" characterized by "mismanagement and dishonesty".
In 2009, Portfolio.com ranked Lay as the third-worst American CEO of all time.
His actions were the catalyst for subsequent and fundamental corporate reform in regard to "standards of leadership, governance, and accountability".Lay was one of America's highest-paid CEOs; between 1998 and 2001, he collected more than $220 million in cash and stock in Enron and sold 1.7 million shares.
However, during his trial in 2006, Lay claimed that Enron stock made up about 90% of his wealth, and that his net worth at that time was negative $250,000.