Nadia's Feed
Nov 14, 2013

Exclusive: GM CEO could exit in 2014; no formal search yet – sources

By Nadia Damouni, Ben Klayman and Sophie Sassard

(Reuters) – General Motors Co (GM.N: Quote, Profile, Research) Chief Executive Dan Akerson could step down as early as next year though he has not formally notified the board of his plans and an official search for his successor has not yet begun, according to people close to the matter.

GM’s board is not in any rush to see Akerson, 65, leave and has not set a timeframe for hiring an executive search firm to weigh potential internal or external candidates, said one of the sources, who is familiar with the board’s thinking.

Nov 14, 2013

GM CEO could exit in 2014; no formal search yet -sources

Nov 14 (Reuters) – General Motors Co Chief Executive
Dan Akerson could step down as early as next year though he has
not formally notified the board of his plans and an official
search for his successor has not yet begun, according to people
close to the matter.

GM’s board is not in any rush to see Akerson, 65, leave and
has not set a timeframe for hiring an executive search firm to
weigh potential internal or external candidates, said one of the
sources, who is familiar with the board’s thinking.

Nov 14, 2013

Investors take aim at ‘male, pale and stale’ U.S. boards

NEW YORK/BOSTON, Nov 14 (Reuters) – American boardrooms are
looking grayer than ever. More retired executives are being
offered directorships, mandatory retirement ages are rising, and
directors are staying on longer.

It is a trend that has some investors, particularly state
pension funds, increasingly concerned. They say directors who
stay on a board a long time can get too cozy with management and
lose their independence. It also means that the clubby
domination of boardrooms by older, mainly white, men can
continue, with fewer opportunities for women and minorities to
get directorships.

Nov 12, 2013

Men’s Wearhouse will review merger offer, investor says

NEW YORK, Nov 12 (Reuters) – Men’s Wearhouse Inc said
it would review a previously rejected merger with Jos. A. Bank
Clothiers Inc and a return of capital to shareholders,
major investor Eminence Capital LLC said on Tuesday.

The New York-based hedge fund, which is Men’s Wearhouse
largest single shareholder with almost 10 percent of stock,
urged the company to quickly engage with smaller rival Jos. A.
Bank over a merger offer Men’s Wearhouse turned down in October.

Nov 8, 2013

Exclusive: Alcatel-Lucent enterprise unit on the block again – sources

NEW YORK (Reuters) – Alcatel-Lucent is exploring the sale of a division that sells switches and communications gear to corporate clients, part of the French company’s efforts to shed 1 billion euros worth of assets by 2015, according to people familiar with the matter.

Alcatel-Lucent SA, which is in the midst of a turnaround and debt-reduction plan under Chief Executive Michel Combes, has brought in Lazard Ltd to help find a buyer for its enterprise business, the sources said this week.

Nov 8, 2013

Alcatel-Lucent enterprise unit on the block again-sources

NEW YORK, Nov 8 (Reuters) – Alcatel-Lucent is exploring the
sale of a division that sells switches and communications gear
to corporate clients, part of the French company’s efforts to
shed 1 billion euros worth of assets by 2015, according to
people familiar with the matter.

Alcatel-Lucent SA, which is in the midst of a
turnaround and debt-reduction plan under Chief Executive Michel
Combes, has brought in Lazard Ltd to help find a buyer
for its enterprise business, the sources said this week.

Nov 7, 2013

IBM’s CFO Loughridge to retire by year-end

By Nicola Leske and Nadia Damouni

(Reuters) – IBM’s (IBM.N: Quote, Profile, Research, Stock Buzz) Chief Financial Officer Mark Loughridge is retiring at the end of the year after almost a decade on the job as the technology services provider struggles with declining revenue and weakness in emerging markets.

Loughridge, who joined International Business Machines in 1977 as a development engineer, will be succeeded by Martin Schroeter, who was previously IBM’s head of global finance, the company said in a filing to the Securities and Exchange Commission on Thursday.

Nov 6, 2013

Exclusive: Microsoft narrows CEO shortlist; Mulally, Elop make the cut

NEW YORK (Reuters) – Microsoft Corp has narrowed its list of external candidates to replace Chief Executive Steve Ballmer to about five people, including Ford Motor Co chief Alan Mulally and former Nokia CEO Stephen Elop, according to sources familiar with the matter.

The world’s largest software maker also has at least three internal candidates on its shortlist, including former Skype CEO Tony Bates, who is now responsible for Microsoft’s business development, and Satya Nadella, the company’s cloud and enterprise chief, the sources said.

Nov 6, 2013

Microsoft narrows CEO shortlist; Mulally, Elop make the cut

NEW YORK, Nov 5 (Reuters) – Microsoft Corp has
narrowed its list of external candidates to replace Chief
Executive Steve Ballmer to about five people, including Ford
Motor Co chief Alan Mulally and former Nokia
CEO Stephen Elop, according to sources familiar with the matter.

The world’s largest software maker also has at least three
internal candidates on its shortlist, including former Skype CEO
Tony Bates, who is now responsible for Microsoft’s business
development, and Satya Nadella, the company’s cloud and
enterprise chief, the sources said.

Nov 4, 2013

Exclusive – Activist investor Voce pushes ConMed to sell

NEW YORK (Reuters) – Activist investor Voce Capital Management LLC is pushing ConMed Corp (CNMD.O: Quote, Profile, Research) to pursue a sale, saying it believes the surgical-device maker could attract buyout interest from at least a dozen industry peers, according to a letter seen by Reuters on Sunday.

Voce Capital, which holds less than 1 percent in ConMed, is expected to send a 13-page letter to the company’s board as soon as Monday, saying it believed several suitors had approached ConMed about a buyout but had been turned away. It was not clear when the approaches were made or who made them.