19-03-2003 01:13									#61
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quote: Originally posted by Lazarus and the Gimp Wrong. Read the article.

Right, Did.

	19-03-2003 01:21									#62
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All of the executives I've detailed were recruited.

	19-03-2003 01:41									#63
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quote: Originally posted by Lazarus and the Gimp All of the executives I've detailed were recruited.

Well, easier to answer than "wrong".

That does not preclude them from having votes in other
companies of interest to the boardmembers they currently serve or direct. In fact most board members are members of multiple corporate boards, though they only hold sway in one.

	19-03-2003 01:56									#64
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In the case of directors, it can happen. It doesn't tend to be the case with CEO's and senior fund managers associated with FSA-regulated companies, as with the examples I've quoted.

	19-03-2003 02:07									#65
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quote: Originally posted by Lazarus and the Gimp In the case of directors, it can happen. It doesn't tend to be the case with CEO's and senior fund managers associated with FSA-regulated companies, as with the examples I've quoted.

CEOs are elected by the board and usually are board
members.

The only way i see your scenarios happening without
stockholding is.

The guy turned around the company he does own stock
in, the board having screwed up their own company
and heading for certain doom hires him in the hope of
saving their bacon with another turnaround, he seeing
the mess demands big $$$ and a big payoff regardless
of the outcome.

	19-03-2003 02:21									#66
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The examples I'm listing are of people who came from fund management/senior management backgrounds, not large-scale investors. The Abbey National, for example was until relatively recently a Mutual.

They are hired on the basis of "getting the best", check the results.

	19-03-2003 02:33									#67
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quote: Originally posted by Lazarus and the Gimp The examples I'm listing are of people who came from fund management/senior management backgrounds, not large-scale investors.

Must be cultural differences, they only people who get
those positions in any corporation I'm aware of are
stockholders or specialists (ie Lawyer, CA, Politician, CEO's whore).