Commentary: At Least Chainsaw Al Knew How To Hire A BoardBy
Ousted Sunbeam Chairman and Chief Executive Albert J. Dunlap, arguably the most reviled executive of this decade, did do one thing right: He, perhaps inadvertently, created an independent board from the group of friends that he hand-picked as directors. How? By insisting that they be paid in company stock and that they buy company stock. In the end, this independence--and the financial pain that each director was feeling--was Dunlap's own undoing.
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