Word: durkes
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...predecessor, Durk I. Jager, had pioneered ambitious new products in hopes of finding a blockbuster for the company, but never did. With investor confidence slipping, Procter and Gamble’s board removed Jager, an unusual act for the 166-year-old company...
Things looked very different little more than two years ago, when Lafley, 55, took over P&G, based in Cincinnati, Ohio. His gruff predecessor, Durk Jager, had launched a crash course to shake up the notoriously insular, slow-footed company but was forced out after just 17 months of expensive product launches that left consumers yawning. P&G had repeatedly failed to deliver expected earnings, and its stock tumbled 50% in six months. With most of the company's resources and best people focused on developing the next blockbuster new product, sales for the established brands were stagnating, market share...
...think they should be. For years boards allowed underperforming ceos to bumble onward; after all, many board members are CEOs too. But increasing pressure has forced them to oil the trapdoor. Boards, just like stockholders, don't want to be surprised. ceos such as McGinn and Procter & Gamble's Durk Jager, who was forced out in June, were sunk by overly rosy earnings projections. In both cases, the chief executive predicted better earnings than he could deliver--twice in Jager's case, three times in McGinn's. At Gillette, director Warren Buffett, famous for his long-term approach, couldn...
...acquisition of MediaOne 33. Foy patriarch 35. Cancel, in Hollywood-speak 36. "__'s Law" (governs computer power and cost) 38. Sex, Drugs, Rock & Roll author Bogosian 40. Richard ___ (Edwin Arlington Robinson poem) 41. Desert Storm cuisine 42. Gag response, informally 46. Humped bovine 48. Procter & Gamble chairman Durk, who is stepping down unexpectedly 49. 45-Down's org. 51. Double-Tony-winning director Michael 54. Ron's second chief of staff 55. The Army says it shot down a rocket with one 56. Advance degree seeker's test: abbr. 57. Harlem Globetrotters organizer Saperstein 58. Lewis Carroll critter...
...corporate America, discussing the mobility of dairy products sure sounds a lot less threatening than terms such as restructuring, re-engineering and outsourcing. Durk Jager, chief executive of Procter & Gamble, a company in the midst of a huge overhaul, posted a notice on the employee website recommending it. Lew Platt, former head of Hewlett-Packard, endorsed it in a speech. Larry Johnson, CEO of the Bank of Hawaii, handed out 4,000 copies to staff members and asked them to discuss the story with their managers. Says he: "Our objective was to try and condition employees as much as possible...