Word: ceo
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Dates: during 1980-1989
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...usually went through each issue more than once. Before arriving here he had a successful 18-year career with the Gannett newspapers; he was a senior vice president of Gannett and publisher of a ten-newspaper group with headquarters in White Plains, N.Y., and, most recently, publisher and CEO of the Detroit News. "TIME," he says, "has always been an icon for me -- the source. It was a thrill to be asked to join the flagship." Although all publishing is competitive, he adds, "the biggest challenges here are ideas. Our task is to go into the next century as relevant...
There are, according to Sotheby's CEO Michael Ainslie, about 500 people alive today who might fork out more than $25 million for a work of art. Au Lapin Agile could go, said rumor, to $60 million. But in the end, publishing magnate Walter Annenberg bought it for $40.7 million, and two or three people clapped. It was the third most expensive work of art ever sold at auction...
...since it was disclosed that Sotheby's had lent Australian entrepreneur Alan Bond $27 million in 1987 to buy what became the most expensive painting of all time, Van Gogh's Irises. But Sotheby's defends its policy as right, proper and indeed inevitable. Guarantees are given "very sparingly," CEO Ainslie said last week. "It is unusual for more than one or two paintings in a sale to be guaranteed." Ainslie rejects any comparison to margin trading. "We do not make it a standard policy to loan 50% against anything. We are not just lending against the object...
...insistence that it had, and has, no ownership of any kind in Irises, only a lien on the painting.) And on checking the insurance, the lawyers found that no premium had been paid and that the English insurers considered themselves not liable for Irises. Asked about this, Sotheby's CEO Michael Ainslie says, "That is news to me. It was certainly in force according to our communication with the insurers...
...through a major changing of the guard: all three companies are expected to get new chief executives in the space of two years. Late last week Ford Chairman Donald Petersen, 63, who helped engineer that company's heroic comeback, said he will turn over the posts of chairman and CEO on March 1 to Harold Poling, 64, a vice chairman...