Word: boardrooms
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...Stringer's task is to turn around the fortunes of one company. For corporate Japan, however, the question is whether his appointment represents a wholesale shift in boardroom thinking. Within Japan itself, Sony has always appeared a bit of a maverick: "Not a typical Japanese company," in the words of Richard Katz, editor of the Oriental Economist newsletter. Edward Lincoln, of the Council on Foreign Relations in Washington, D.C., and author of the book Arthritic Japan: The Slow Pace of Economic Reform, points out that Sony was the first Japanese company to list on the New York Stock Exchange...
Usually Hutch finds himself pitted against his bete noir, Dennis Worner, CEO of Worner industries, a multi-national conglomerate. We first see Worner - where else? - presiding over his group of toadying yes-men in a boardroom. He sports a puppet on top of his head as some sort of crazed motivational device. "What is the half-life of your innovation?" he screams, in a perfect parody of corporate newspeak. Hart's musical ear for creating nonsense versions of the aerobicized cynicism of biz language becomes one of the book's biggest pleasures. When Worner later runs into a disguised Hutch...
Going forward, Jenness will need to retain key players like COO David Mackay who were passed over for the top job. And then there is the challenge of anticipating Americans' fickle eating habits. Jenness was in the boardroom for Kellogg's reaction to the low-carb craze--cereals with a third less sugar and products like low-carb Eggos--but that trend is increasingly in the rearview mirror. What's next? General Mills is betting that broader health consciousness is here to stay and is in the process of converting its brands to whole grains. Kellogg will instead churn...
...that Harrigan and CalPERS didn't open the door to criticism. During most of the post-Enron era, CalPERS was above reproach, suing to hold WorldCom executives accountable for investor losses and helping lead popular, triumphant crusades for boardroom and executive-suite overhauls at the New York Stock Exchange and Disney. But earlier this year, CalPERS moved from the spotlight to the hot seat when it withheld support from Coca-Cola director and shareholder hero Warren Buffett because Coke's independent-auditor policy was allegedly too lax. At the time, John Castellani, head of the prestigious Business Roundtable, said...
...ubiquitous Combs vows to shed some of the spotlight. "I was really tired this year," he says. "It's important for me to slow down and to focus on the details so that nothing falls through the cracks." Combs doesn't need to spend more time in the boardroom. He has already shown millions of fans that you can make it to the mainstream without leaving your roots behind. --By Sean Gregory/New York