Another early Westinghouse retirement
Article Abstract:
CBS Corp. Chairman and Chief Executive Officer Michael Jordan has announced that he will step down from his posts and retire by the end of 1998. Company President Mel Karmazin has been tapped to replace Jordan as CEO. Jordan, who was credited for transforming Westinghouse Electric Corp. from an industrial company into a pure media entity, said during an interview that he felt it was the right time to relinquish his posts with the divestiture of the remaining Westinghouse industrial operations anticipated to be finalized in December 1998. Karmazin is likely to be tapped to succeed Jordan as chairman as well, according to analysts.
Comment:
Its Chairman and CEO Michael Jordan announces that he will step down from his posts and retire by the end of 1998
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Gateway Press executives trying to buy company
Article Abstract:
United Kingdom-based Trinity PLC, the biggest regional-newspaper publisher in the United Kingdom, is in the advanced-negotiation stages for a local buying consortium's proposed purchase of Gateway Press' PennySaver shopper and 15 area newspaper publications. The proposed purchase deal calls for Trinity to divest its holdings in the US to the consortium, which consists of an outside group of investors and an executive group from Gateway Press.
Comment:
Talks w/ a local buying consortium on proposed sale of Gateway Press' PennySaver shopper & 15 area newspaper publications
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: It's back to the future for department stores. Center City office building sold to Boston company. Once-forsaken office center, revitalized, seeing better days
- Abstracts: CNG Tower up for sale; Westinghouse may follow. Tribune plans to merge papers. Penzer to sell one Strip building
- Abstracts: One day, he woke up and smelled a coffee opportunity. Frankford to buy ailing Delaware Valley hospital. YBM will call special meeting