Who was CEO of Enron when it filed for bankruptcy in 2001?

Kenneth Lay was Enron’s CEO when the company filed for bankruptcy on December 2, 2001. He was Enron’s founder, chairman, and chief executive during the collapse.

Jeffrey Skilling had become Enron’s CEO in February 2001, but he resigned in August of that year, citing personal reasons. Lay then returned to the chief executive role as the company’s accounting scandal intensified and investor confidence disappeared.

Enron filed for Chapter 11 bankruptcy after revelations about hidden debts, inflated profits, and transactions involving special-purpose entities. At the time, it was the largest corporate bankruptcy in U.S. history. The filing eventually resulted in enormous shareholder losses and contributed to the dissolution of accounting firm Arthur Andersen.

The main mix-up is with Skilling, who was CEO for part of 2001, or Andrew Fastow, who was Enron’s chief financial officer. Lou Pai led Enron Energy Services, a division, but was not the corporation’s CEO at bankruptcy. Lay remained the correct answer for the filing date, even though Skilling had led the company earlier that year.