Lots Of Room At C&W's Top
FIRST, IT WAS THE ROYAL family. Now, another British institution has been wracked by an embarrassing internal feud. On Nov. 21, the fed-up board of 150-year-old Cable & Wireless accepted the resignations of the company's two top officers and began a search for replacements. Chairman Lord Young and Chief Executive James Ross had been at each other's throats for months, sometimes even pursuing opposing strategies. Young's attempt to expand in the Middle East by buying shares in Israel's Bezeq phone company conflicted with Ross's efforts to concentrate on the U.S. by forming a joint venture with Baby Bell Nynex. Board members met for a day and a half, then took action when neither man would step down.