CEO's Outside Ties Choke Force Protection

OKLAHOMA CITY -- Force Protection's (FRPT Quote) CEO, already enriched by stock sales and a sweetheart insider deal, could be costing the company more than some people think.

Unlike other military vehicle makers, including chief rival Navistar (NAVZ Quote), Force Protection employs a leadership training guru --- rather than a proven manufacturing expert -- as its top executive. Gordon McGilton has pocketed millions of dollars from stock sales, on top of big payments to his consulting firm, during his two years at the helm.

On the surface at least, Force Protection looks like it might be getting its money's worth. Last year, thanks to huge contracts from the military, Force Protection evolved from a bleeding company -- slapped with a "going-concern" notice from its auditors -- into a profitable venture with phenomenal growth prospects. ...