Word: ceos
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Wall Street, however, can't make up its wary mind about the miracle that Louis V. Gerstner Jr., IBM's seventh CEO, seems to have managed. In the past three years, Gerstner has brought IBM back from what his top lieutenant immodestly calls a "near death experience" instigated by the company's slavish commitment to mainframe computing, a business that started to dissolve sometime during the Carter Administration. Since arriving in April 1993, Gerstner has refocused IBM on businesses that actually exist, unplugged more than 40% of the work force, tripled its once crippled stock price and, in the process...
...Proposition 211 would make it easier to file securities-fraud suits in California than in any other state--and top business leaders have risen up in alarm to fight it. "There's no place in the world like California for new companies," says Richard Hill, the chairman and CEO of Novellus Systems, a San Jose semiconductor-equipment manufacturer. "But this bill will bring that to a screeching halt...
...would California voters favor an amendment that could slow the state's booming technology industry? "This will hurt the companies with the most volatility, and that means companies that are growing fast," warns Scott McNealy, CEO of Sun Microsystems. Supporters say the initiative would provide extra protection for elderly victims of securities frauds. But opponents say it would jeopardize many of the companies the elderly have invested...
...employees may also be called on to testify against their own, notably executive vice president Michael Andreas, 47, longtime heir apparent to his father, ADM chairman and CEO Dwayne Andreas, 78. Prosecutors are continuing their investigation of both the younger Andreas and Terrance Wilson, 58, who heads the ADM corn-processing division. Neither was granted immunity--meaning that both could face indictment. ADM said last week that Andreas was taking a leave of absence and that Wilson had decided to retire...
APPOINTED. MARJORIE SCARDINO, 49, head of the firm that publishes the Economist; as CEO of the media conglomerate Pearson; in London. She is American and the first woman to lead a major British public company. STEPPING DOWN. DAVID BRINKLEY, 76, acerbic network-news fixture; as host of ABC's This Week with David Brinkley; on Nov. 10; in Washington...