Word: ceos
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Finally, the replacement of retiring Corporation member Charles P. Slichter '45, a physicist and chemist at the University of Illinois, with James R. Houghton '58, the CEO of Corning, Inc., was a signal to some observers that the University's highest governing board was becoming too corporate and less academic...
...Corning, a firm heavily reliant on scientific research, has been touted as maintaining the link to natural sciences that Slichter, a professor of physics and chemistry at the University of Illinois, provided. Houghton, who received his highest degree at Harvard Business School, has been called "not just another CEO." Some have even suggested that he might be instrumental in shaping academic scientists' relationships with corporations...
...Baker & McKenzie who sensitized corporate America to the consequences. The precedent-setting $3.5 million award that Rena Weeks won last year against the law firm could not have have been far from the minds of directors at W.R. Grace & Co. when they ousted the firm's president and CEO, J.P. Bolduc. Last week the board acknowledged that evidence of sexual harassment was the real reason for his March 2 departure, and in the process created a new corporate milestone. "This is the first time that a company has taken the action of having a CEO leave apparently because of sexual...
...limited nominations to the board to candidates under the age of 70. Directors also decided to whittle the number of board members from an unwieldy 22, many of whom had been close associates of J. Peter Grace, to a more manageable 12. And with Grace gone and the CEO job still without a permanent occupant, some insiders may have been worried that the shareholders might press to bring back Bolduc, a prospect that apparently led to the leak of the proxy statement...
...fair, the company noted in lawyerly prose that Bolduc, who is married and has four children, "vehemently denied and continues to deny" any sexual misconduct. Grace further pointed out that none of the women who came forward has so far filed any formal harassment complaint against the former CEO. As a result, Grace said, its directors decided "to request Mr. Bolduc's resignation, but not to seek his termination for cause...