Yankee Style Activists Strike Boardroom Terror Abroad

It came as no great surprise last spring when Andrew R.F. Buxton won the new slot of both chairman and chief executive at Barclays Bank PLC, effective Jan. 1, 1993. After all, Buxton, the scion of one of the bank's founding families, over 30 years had worked his way up the corporate ladder to No.2. But by December, outside directors--goaded by big shareholders--had reconsidered, blaming Buxton for mounting bad debts and sagging earnings. Buxton was forced to cede the CEO job to another executive, probably by this spring.

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