Word: ceos
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...Talks had been ongoing for months, but were hampered by Dresdner executives who knew that the merger could cost them their jobs. On the Dresdner management board, only CEO Herbert Walter backed the deal, and he will take a new job on the board of the new Commerzbank...
...spin-off also leaves a pure-play candy outfit that might be able to find chocolatey growth again. "We're focused on delivering," says CEO Todd Stitzer, the veteran Cadbury executive who is only the second person outside the Cadbury family to run the shop. Stitzer is predicting that yet another restructuring--the company plans to close 15% of its factories and ax 15% of its workers in the next four years--will allow Cadbury's chocolate, candy and chewing-gum business to deliver annual sales increases of 4% to 6% and profit margins in the midteens by 2011 from...
...made Cadbury and Hershey potential merger partners. Indeed, Cadbury has had on-and-off merger talks with Hershey for more than a decade and even teamed with Nestlé in a failed $10.5 billion bid for Hershey in 2002. The latest talks occurred in 2007 between Stitzer and then Hershey CEO Richard Lenny. But Lenny was ousted from Hershey in an ugly shake-up later in the year. Hershey continues to stumble--most recently when it raised prices 10% in response to rising costs, a move that hit its stock hard...
...Before this storm," said Michael Sparks, executive vice president and CEO of Florida Citrus Mutual, "there was no doubt that greening was this industry's highest priority and greatest concern." So much so that of the Florida Department of Citrus' $60 million budget - collected from growers as a small percentage of each box of fruit produced - more than $20 million has been set aside for disease research, most of which is focused on greening...
...neighborhood school system, leading to vast differences in the education dollars one district receives compared to another. Chicago each year spends just $10,000 per pupil whereas suburbs like Winnetka can spend as much as $17,000. "Public education is supposed to be the great equalizer," says Arne Duncan, CEO of Chicago's public-school district. "But the fact that the amount of money spent on education is determined by where you live is fundamentally unfair...