2. Kenneth Lonchar ,CFO of Veritas Software Corp: Through a merger in 1997, Kenneth Lonchar joined Veritas Software Corp. At that time both the organizations were small but Kenneth worked hard and after four years won the CFO Magazine's Excellence Award for Managing External Stakeholders. However, he soon fell from his grace in the very next year when it was exposed that he never received an MBA degree from Stanford University which he claimed on his resume. Also it was revealed that the accounting degree that he earned was from Idaho State University, whereas he said that he did it from Arizona State University. As a result of his faking on the resume, the company's credit ratings and shares were downgraded by analyst Merrill Lynch, who dropped it by almost 20 percent. Soon after which Kenneth was asked to resign from his post.