Word: boards
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...After a series of bad years for Hershey, however, the trust board briefly toyed in 2007 with the idea of selling its stock to Wrigley, famous for its chewing-gum brand, but backed down within hours of closing the deal. State and federal authorities had tried to block the sale, in part because of concerns about the size of a combined Wrigley-Hershey company. Residents of the town of Hershey, meanwhile, expressed outrage and even convinced a local judge to delay the sale, saying it would cause "irreparable harm" to the community...
...Board members had argued the sale was necessary to diversify the school's funding base, since slumping profits at the candy company could have far-reaching effects on the school's funding. The failure of that sale appears to have led the trust board to take a stronger role in the direction of the Hershey company, leading quickly to the resignation of CEO and Chairman Richard H. Lenny. Weeks later, the trust board forcibly replaced six of the 11 Hershey board members...
Houghton is also an active member of several boards of directors of various companies, and the current chairman of the board of trustees at the Metropolitan Museum of Art. Upon graduating from Harvard Business School in 1962, Houghton spent much of his professional career at Corning Incorporated—a maker of specialty glass and ceramics—where he eventually rose to the top posts of chairman and CEO in in 1983, and again...
...compliance with the University’s charter, the Corporation elects any new Corporation member with the counsel and approval of the Board of Overseers—Harvard’s second highest governing body. A joint committee of the Corporation and the Board will soon begin a search to fill the vacancy to be left by Houghton...
Abdelnasser A. Rashid ’11-’12 is a social studies concentrator in Dunster House. He is a board member of the Harvard College Palestine Solidarity Committee...