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Disney Joins Companies Splitting Top Board Positions.
Knight Ridder/Tribune Business News, March, 2004
The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Mar. 6--Many of the nation's large corporations count on a single person to fill their two most important jobs: chairman of the board and chief executive officer.
But an increasing number of companies -- including Walt Disney Co. and Dell Inc.
just this week -- are opting to split the positions between executives. At Disney, the decision was an attempt to quell a shareholder revolt, while Dell's move ostensibly gives founder Michael Dell more time to form big-picture strategies.
The rise of the two-leader corporation follows a stock-market slump and, for many businesses, several years of lackluster earnings. Companies have myriad reasons for dividing power; in...
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