Word: houghtons
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...outside director of Corning led a bid to oust the incumbent CEO and bring Houghton back, BusinessWeek reported...
Shortly after his return from Europe, Houghton put his Valentine’s Day plan into motion...
With Hyman and Keohane out of the running, the Corporation turned to its fail-safe backup: Bok. For Houghton, who himself had reprised his role as chairman and chief executive of the glassworks and fiber-optics maker Corning in 2002 after a six-year hiatus, Bok seemed reliable, according to a source who spoke with Houghton. The only thing left to do was to convince a 75-year-old man to leave the beaches of Florida for a bitterly divided university in Massachusetts...
...proposition that could only be made in person. Just one day after Summers had submitted his formal resignation to the Corporation, Houghton called Bok to notify him that he and Keohane would travel to Florida to discuss the situation further. On Saturday, Feb. 18, Keohane and Houghton met Bok for a secret rendezvous in Sarasota, Fla. They explained the circumstances to the former president, outlined their expectations, and told Bok that he would only have to serve for, at most, one academic year...
...wasn’t the first time Houghton had been tied to a corporate coup...