106. In their evidence to us, Carillion's directors gave no indication that they accepted any blame for their decisions that ultimately led to the collapse of the company. They sought to point the finger at anyone or anything else they could find. Rather than a failure of management, the collapse of Carillion was, to them, the fault of their advisers, the Bank of England, the foreign exchange markets, Brexit, the snap 2017 General Election, Carillion's investors, Carillion's suppliers, the entire UK construction industry, Middle Eastern business culture, the construction market of Canada, and professional designers of concrete beams.339
107. Carillion's directors, both executive and non-executive, were optimistic until the very end of the company. They had built a culture of ever-growing reward behind the façade of an ever-growing company, focused on their personal profit and success. Even after the company became insolvent, directors seemed surprised the business had not survived.
108. Once the business had completely collapsed, Carillion's directors sought to blame everyone but themselves for the destruction they caused. Their expressions of regret offer no comfort for employees, former employees and suppliers who have suffered because of their failure of leadership.
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339 Q234 [Keith Cochrane]; Qq238-9 [Keith Cochrane]; Q282 [Zafar Khan]; Q298 [Zafar Khan]; Qq305-6 [Zafar Khan]; Q381 [Keith Cochrane]; Q385 [Keith Cochrane]; Q445 [Richard Howson]; Qq448-452 [Philip Green]; Q462 [Philip Green]