Word: culligan
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Ever since last month's palace revolt at Curtis Publishing Co. forced the resignation of President Matthew J. Culligan, the company has been looking everywhere for a new boss. The directors hired Boyden Associates, a management consulting firm, to help in the search, and the names of outsiders reportedly under consideration got an almost daily workout in the New York press. The list seemed endless: McCall's Publisher A. Edward Miller, former Oil Company Executive Raymond D. McGranahan, former FCC Chairman Newton Minow, and Shelton Fisher, McGraw-Hill publication division president. Then last week the Curtis board...
Since Oct. 1, when the dissident group demanded the ouster of Curtis President Matthew J. Culligan, the board has met at least half a dozen times in a vain search for a comprehensive solution to the company's problems. The rebel leaders, Editor in Chief Clay Blair Jr. and Marvin D. Kantor, head of the magazine division, were first suspended, then fired. Both stayed on Curtis' board-and last week both brought suit against Curtis for the unpaid balance of their contracts, which have two more years to run. The suit is directed against Curtis, the First National...
...directors have yet to find a replacement for President Culligan, who was relieved of his title but was allowed to stay on as chairman of the board. Raymond De Pue McGranahan, the Los Angeles oil company executive who was widely heralded as Culligan's successor, has joined the Curtis board but has declared that he is not a presidential candidate-nor has he yet attended a board meeting...
Curtis' directors tried to paper over the whole messy business with a plaintive announcement that "policy differences" would not deter them from "proceeding vigorously with plans which have been under consideration for strengthening the company's operations." But President Joe Culligan was still to be heard from. With the powerful support of Boston Banker Serge Semenenko, who put together the consortium of banks that saved Curtis last year, Culligan ripped the whole thing wide open again as he lashed back at his foes. Blair and Kantor, he decreed, were henceforth "relieved from all duties" and "placed on inactive...
Action there will surely be as the rebellion rages on. Next week a special, board-appointed investigating committee is scheduled to consult and report on the validity of the Blair-Kantor charges against Culligan...