Jose Manuel Barroso, the former president of the European Commission, accepted a new role as chairman and senior advisor at Goldman Sachs, prompting criticism and ethical concerns. As the EU's executive body, the Commission launched an ethics inquiry into whether Barroso's new job violated their code of conduct for ex-officials. The investigation found no violation, but some felt it went against the spirit of revolving door rules. While Barroso had a right to the job, others disagreed with his judgment and saw it fueling debates around officials entering the private sector after government roles.

1. Ethical Issue: Jose
Manuel Barroso’s New
Job
Danny Odlaug
Business Ethics

2. Who is involved?
-Jose Manuel Barroso
-Goldman Sachs
-The EU and European Commission

3. Jose Manuel Barroso
O History with the EU
O Prime Minister of Portugal from 2002-2004
O President/Chief of the Commission from 2004-2014
 The European Commission is the EU’s executive
body, it promotes the general interest of the European
Union as a whole, not the individual countries

4. Barroso’s New Role
O Barroso accepted a job at Goldman Sachs
as a chairman and senior adviser in the
international arm of the firm
O He is set to move to London and
advise/guide the bank and its client’s on
‘Brexit’

5. Ethical Issues at Hand
O His decision to leave triggered all sorts of
criticism
O 150,000 people signed a petition that was
assembled by the EU that his decision was
“morally reprehensible”
O The Commission launched an ethics
inquiry lead by an independent panel

6. Ethical Issues
O The ethical investigation was centered
around the EU’s code of conduct that
requires senior officials to “behave with
integrity and discretion” once they cease
to hold high office
O Investigation found that there was “not
sufficient grounds to establish a violation”

7. Ethical Issues
O Ex-commissioners are supposed to have new
jobs vetted for 18 months after leaving office
(Barroso took his 20 months after leaving the
commission)
O EU does not want him lobbying, etc.
Concerned about their reputation
O Revolving Door Rules
O Barroso strengthened the code of conduct on
this issue during his tenure

8. Ethical Issues
O I believe Barroso has the right to take this job
with Goldman
O Knowledge of the system, relationships, etc.
O Furthers the issue of those who leave
government and enter private sector
O Some do not agree with his judgment
O It is a controversy that is highly regulated, will
have to see if this sparks a further debate

9. Questions/Com
ments

10. Sources
O https://www.theguardian.com/business/2016/o
ct/31/jose-manuel-barroso-cleared-ethics-
breach-goldman-sachs-job-european-
commission
O http://www.politico.eu/article/jose-manuel-
barrosos-new-job-at-goldman-sachs-angers-
eu/
O ec.europa.eu/about/index_en.htm