In 2023, a federal grand jury charged a former Apple employee, Weibao Wang, with stealing trade secrets related to Apple’s self-driving car initiative. According to prosecutors, Wang accessed confidential materials shortly before leaving Apple to join a Chinese company working on similar technologies. He reportedly fled to China soon after authorities searched his home, where they uncovered misappropriated Apple data. While directors may not learn of such misconduct until it becomes public, investors will often hold those at the top responsible, including members of the board. This dynamic was illustrated by the crisis that later unfolded at Germany’s Volkswagen Group, one of the largest automobile manufacturers in the world.
