Word: chairmens
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Last week's three ousted chairmen thus joined a long line of executives who ) have fallen prey to the most significant new trend in American corporate governance since the takeover mania of the 1980s: boardrooms, as they discovered, are ceasing to be clubby havens for beleaguered executives. Puppets no more, directors are responding to financial and legal pressures from angry shareholders by rising up against management in open revolts that would have been unthinkable a decade ago. While such boardroom activism is nothing new at smaller companies, where directors tend to hold large ownership stakes, it is now spreading...
Wanted: experienced computer executives willing to help a blue-chip CEO get out from under the worst crisis in company history. IBM has sent out such a Mayday. Answering the call were retired vice chairmen Paul Rizzo, 64, and Kaspar Cassani, also 64, who will help chairman and chief executive John Akers get Big Blue back on an even keel. Still unanswered, though, is the question of who asked the pair to return. Some analysts think Akers did it, to placate IBM's increasingly dissatisfied board. Others suspect the board brought Rizzo and Cassani back, as the first step toward...
...with a cold promise of more agony for civilians pinned down in Sarajevo, Goradze and other towns in the war-torn republic. But movement toward an end to the hostilities remains fitful at best. Former U.S. Secretary of State Cyrus Vance and former British Foreign Secretary Lord Owen, co-chairmen of the peace conference on + Yugoslavia, were encouraged that leaders of all three Bosnian factions agreed to meet in Geneva this week. With the spirit of compromise long since bludgeoned by atrocities on all sides, however, no agreement at the table is likely. And the deadly frustrations...
...President Alexander Rutskoi. Gennadi Burbulis, Yeltsin's top political strategist, and First Deputy Prime Minister Yegor Gaidar, the point man of Russia's economic reforms, sit on the right. The old Politburo table had to be lengthened to seat the 35 ministers in the government and 30 state-committee chairmen. Most of Yeltsin's staff must scramble for chairs along the walls...
SOME HABITS ARE HARD TO BREAK. SENATORS CLAIBORNE PELL and DAVID BOREN, the chairmen of the Foreign Relations and Intelligence committees, have been traveling through Southeast Asia during the Easter-Passover recess on a military C-20B (cost: $2,614 an hour), stopping in Hong Kong, Taiwan, Indonesia and Papua New Guinea (to celebrate the 50th anniversary of the Battle of the Coral Sea). Even though commercial flights were available, sources say, one of the reasons for going military was that wives travel free. Boren argues that the spouses were invited by some of the governments to participate in events...