ceo casey and the 3 envelope story

In announcing his intention to resign the CEO of NYL, Glen Casey has just completed the classic 3 enevelope move, which goes like this:

When you are appointed to the role of CEO you are handed 3 envelopes with the following instructions:

1. If, after a few months at the helm things are not going well for the company you open envelope #1 - the envelope contains the instructions you are to issue a press release and blame your predecessor (Casey continually blamed Allan Jackson for the mess NLX was in)


2. If things still haven't improved after another 6-12 months you open envelope #2 - the contents say to restructure, sell a few assets and create a smokescreen (exactly what Casey did)


3. If the fortunes of the company still don't improve and you run out of ideas, you open envelope #3 - the contents of which simply say "write another 3 envelopes" (Casey quits).