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Harvard Corporation Senior Fellow James R. Houghton ’58, who played a key role in the resignation of former University President Lawrence H. Summers and presided over the appointment of his successor, Drew G. Faust, will leave his post on the University’s top governing board at the end of the current academic year...
Robert D. Reischauer ’63, who joined the Corporation as a fellow in 2002 after concluding his six-year term on the Board of Overseers, will succeed Houghton as senior fellow, according to a University announcement of Houghton’s decision released Monday afternoon...
...possible purchase of Cadbury, a famous British candy brand, has been on the trust board's agenda ever since. The two companies already had a relationship, with Hershey acting as Cadbury's U.S. distributor. Cadbury had even considered buying Hershey when the trust first put it up for sale...
...long-term consequences of such a merger will weigh heavily on the trust-board members since they must consider how it will affect their bottom line far into the future. Outbidding Kraft for Cadbury would force the company to take on a mountain of debt, analysts say, which could damage Hershey's strong credit rating. And raising that money could force the company to issue new stock, potentially diluting the control the trust enjoys...
...That they are even considering such a deal shows that the trust-board members are looking past the immediate debt implications to the distant future of Hershey, Howard said...