Business Services Industry
Aquila Leader Faces Shareholders, Apologizes for Poor Year.
Knight Ridder/Tribune Business News, June, 2003
By Steve Everly, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Jun. 5--What does a corporate chief say when his company has produced a year of record losses, mass layoffs and poorer investors?
"I apologize," said an obviously emotional Richard Green Jr., chief executive officer of Aquila Inc., at the company's annual meeting.
The act of contrition to roughly 250 shareholders appeared to satisfy at least some of those who met at Starlight Theatre for a review of 2002 financial results and the company's plans. Green called the annual meeting one of the most important in the company's history.
"Thank you for the apology," said C.L. Piepmeier of Appleton City, Mo.
But other shareholders, who have watched...
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