Word: ceos
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...unusual for a CEO to want to stick around or make life miserable for a named successor. Yet, says Robert Kavner, another top executive who left AT&T, "Bob is not a punitive person; he's not egocentric. This is about something of substance...
...reach out and tap someone. This time, the board will conduct its own search, and the new CEO will take over pronto. The top inside candidate is John Zeglis, AT&T's vice chairman. A swift choice would provide an ironic coda: by hastening Walter's departure, Allen will have hastened his own as well...
...great divider is Rand Araskog, CEO of ITT Corp., who will run ITT Destinations. He also unveiled a $2.1 billion, $70-a-share stock buyback. An exultant Araskog claimed victory, but by busting up ITT he merely beat Hilton to the punch. Says Bruce Turner, a managing director for Salomon Brothers: "His strategy happened because [Hilton CEO Stephen] Bollenbach came calling and there was no question what he would...
Many downtowns are reviving; yet other retailers have swiped huge chunks of Woolworth's business. Stores like Staples knocked off stationery, while drug chains like Rite Aid made deep inroads in variety goods. Current CEO Roger Farah, tired of trying to figure out how to sell notions, will convert many sites to FootLockers. Selling $100 Nikes is a much simpler--and more profitable--proposition...
...turned lobbyist BOB DOLE to oppose the measure. Cheerleading for Hanes' parent, Sara Lee Corp., and other U.S. apparel makers with major Caribbean interests, is former Reagan aide KEN DUBERSTEIN. Also coming out of the closet on this issue is PRESIDENT CLINTON, a close friend of Sara Lee Corp. CEO and Democratic fund-raising bigwig JOHN BRYAN. Clinton, long in favor of the provision, phoned Senate majority leader TRENT LOTT late last week to make clear his support for the bill. At the moment, most of the honorable gentlemen seem to prefer Hanes...