Akers And Hanson Together AgainElizabeth Lesly
Former IBM Chairman John Akers has kept a low profile since being pressured by shareholder activists to step down in 1993. But his latest gig shows a real knack for letting bygones be bygones. In late September, Akers joined the advisory board of Directorship Inc., a Greenwich (Conn.) consulting firm that advises corporate boards on directors' legal responsibilities, pay, and other issues.
Akers goes way back with at least one fellow member of Directorship's board, Dale Hanson. The former CEO of the California Public Employees' Retirement System may have contributed to Akers' ouster: While at CalPERS, Hanson put pressure on IBM's board to do something about the company's poor performance. "We try and get as diverse a group of people as we can," says Peter Garrett, publisher of the consulting firm's newsletter, Directorship. What will Akers, who also serves on the boards of PepsiCo Inc. and the New York Times Co., add?
"The experience of 35 years in business," Akers says. "I don't have anything else to say."