Word: ceos
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Anger among Bank of America investors about the Merrill Lynch deal has been brewing for months. In April, shareholders voted to strip Lewis of the title of chairman. Even then, some people predicted Lewis was not long for the bank, but he managed to hold on to his CEO title for six more months...
...Became Bank of America's chief operating officer in 1999, CEO in 2001 and chairman...
...beard should have given him away. When Bank of America CEO Kenneth Lewis returned from vacation in Aspen, Colo., last month, the clean-cut Southerner was sporting scruff for the first time in memory. That wasn't the last change he had in store: on Sept. 30, Lewis unexpectedly announced he will step down by the end of the year, leaving the giant bank scrambling to find a successor. The 62-year-old garnered plaudits as he climbed the firm's rungs over 40 years, but he has absorbed a series of blows for his stewardship of the company during...
...extraordinary that Lewis has remained this long under these circumstances." - Stephen Lerner, an official at the Service Employees International Union, on Lewis maintaining his CEO position after being stripped of his chairman's role. (TIME.com...
...Ford clearly wants to improve its standing. On Sept. 23, CEO Alan Mulally was in New Delhi to unveil a new four-door hatchback called the Figo that is aimed squarely at India and neighboring South Asian countries. Designed by Indian engineers on the Fiesta platform, the new small car "is going to be a game changer," predicts Michael Boneham, president and managing director of Ford India. When it debuts next year, the Figo (the name means "cool" in Italian) will be made in India and powered by either a 1.2-liter gas or 1.5-liter diesel engine. Ford also...