Word: ouster
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...1950s to run the company, stunned employees who had heralded him not long ago as an automotive redeemer who would bring out the best in GM. Like soldiers in a conquered army, many roamed aimlessly last week along the corridors of the company's limestone-clad Detroit headquarters. The ouster shook even Stempel's union adversaries, who feared what life would be like after the boardroom coup led by John Smale, 65, the hard-charging retired chairman of Procter & Gamble. Smale has emerged as a possible Stempel successor and the real power inside the embattled company...
Stempel's ouster is a landmark in the growing shift of power from U.S. managers to corporate directors, who had traditionally been viewed more as rubber-stampers than real decision makers. As recently as the mid-1980s, not even the bellicose presence of Ross Perot on GM's board could persuade the firm to shift gears or change direction. "I did everything I could to get General Motors to face its problems," Perot said in the presidential debates. "They just wouldn't do it." Rather than heed Perot's exhortations to cut executive perquisites and streamline the bureaucracy, GM spent...
...event was sponsored by the university's office of multicultural affairs to give students an opportunity to discuss both sides of the issue. No one spoke in favor of the ouster...
...Suchinda government's promise not to block amendments to the Thai constitution that would trim the soldiers' authority. And he appointed an emissary, former Prime Minister Prem Tinsulanonda, to negotiate with Suchinda an amnesty agreement for those responsible for the crackdown. This apparently eased military objections to Suchinda's ouster...
...protean treatment by Iacocca of his own proteges hardly inspires confidence that the road will be smooth. The consummate car guy has repeatedly extended and withdrawn his favor since 1978, when he arrived at Chrysler from Ford following his own bitter ouster by Henry Ford II. The first heir apparent was Harold Sperlich, who preceded Iacocca from Ford and developed the K-car line of compact autos that kept Chrysler alive in the early 1980s. Then came financial wizard Gerald Greenwald, also from Ford, in 1979. As Sperlich faded, Greenwald rose to become vice chairman. Just as he was approaching...