Word: ceos
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...years. Now he seems poised to break a few more, acknowledging his interest in purchasing the network that has been his home for so many years: NBC. General Electric, which has owned the network since 1986, continues to insist it is not for sale. But Norman Brokaw, chairman and CEO of the William Morris Agency, which represents Cosby, says the entertainer is still interested in assembling partners and obtaining financing. Possible price tag: $4 billion. "Bill Cosby enjoys producing and creating things," says Brokaw. "He has some ideas about quality television. He'd heard rumors of others wanting...
...changes in GM's bottom line were nothing compared with the changes at the top. After months of bitter skirmishing with GM's board of directors, chairman and CEO Robert Stempel finally quit. It was Detroit's bloodiest boardroom drama since Henry Ford fired Lee Iacocca in 1978, and it marked a turning point for the once mighty U.S. manufacturer now struggling to reinvent itself...
...board is expected to split Stempel's job in two, promoting president John Smith to CEO and installing as chairman John Smale, retired Procter & Gamble chairman and leader of the directors aligned against Stempel. But GM's problems go back to the free-spending 1980s, when the company invested billions in computer and aircraft firms rather than finding new ways to build better cars, and it will take more than a boardroom coup to turn that around. (See Cover Stories beginning on page...
GENERAL MOTORS GOT RID OF THE WRONG GUY LAST WEEK. BOB Stempel is not responsible for the disaster at GM. That distinction belongs to Roger B. Smith, Stempel's predecessor as chairman, made infamous in the film Roger & Me. As CEO from 1981 to 1990, Smith designed and executed the strategy that has impoverished the industrial giant. Stempel was laboring to undo the damage when GM's board forced him to fall on his sword after little more than two years on the job. By week's end the directors reportedly began moving to give Smith a final shove...
Chairman, CEO: Reginald K. Brack...