At this hour, executives and MF Global are huddling with bankers and lawyers, trying to come up with a deal to sell the firm. It must seem like a surreal exercise, since just days earlier the firm held a solid investment-grade credit rating and a market cap of $620 million. Now, as its clients turn […]
The messy firing of Olympus CEO Michael Woodford provides another example of the challenges in communicating an executive exit. The Japanese camera and medical-imaging company last week fired Woodford, its first non-Japanese CEO, after less than a year. In announcing his dismissal, Olympus cited Woodford’s inability to work effectively with Japanese managers and chairman Tsuyoshi […]
Last week Bank of New York Mellon (NYSE: BK) abruptly announced that its CEO, Robert Kelly was leaving, citing “differences in approaches to managing the company.” The story made headlines for a day but was quickly forgotten, and the stock price has held pretty steady – both hallmarks of a communications success. Of course it […]
Bank of America’s shot at Henry Blodget is a measure of how influential the blogosphere has now become in the financial markets. It’s also a reminder of the pitfalls of taking on critics publicly in any forum. For every company that has seen its stock price plummet, the scene within BofA is a familiar one: […]