Word: clarks
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...Clark said that he likes Wasserstein and considers him a “really smart guy,” but added that he also has high opinions of Richard D. Parsons and Jeffrey L. Bewkes, the CEO and president of Time Warner...
...Clark said that in the end he decided to resign from one of the companies to assuage potential concerns of other directors that sitting on both boards would have affected his judgment. He said he chose to resign from Lazard because he had invested a great deal of time into learning Time Warner’s business and felt that he would be more valuable remaining on its board...
...joined the board of [Time Warner] in January of 2004 while I was only with Lazard since May of 2005,” Clark said. “This decision was not a statement of my feelings toward the management of either company...
Clark’s relationships to the Lazard management, in particular to Bruce J. Wasserstein, Lazard’s chief executive, have also come under fire from some corporate governance experts. In addition to Lazard, Clark has also sat on the board of other Wasserstein-controlled companies: cosmetics maker Maybelline, auto supplies manufacturer Collins & Aikman, and publishing company American Lawyer Media Holdings...
Because the Time Warner board has thirteen directors elected through a plurality voting system, Icahn would have to identify eight current directors whom he wants his allies to vote against. When asked if Clark was one of his targets, Icahn initially said that all the directors were at fault for Time Warner’s performance, but later backtracked and pointed out that Clark was not a member of the board that approved what he deemed the disastrous merger between Time Warner and America Online...