Neither public nor private companies are generally good at changing their chiefs, as the Schumpeter Commentary in the weekly newspaper The Economist points out.
London – On November 24th Louis Chenevert, the chairman and chief executive of United Technologies, resigned abruptly without explanation. The rumour mills began to whirr: the American giant, which makes helicopters, aircraft engines and lifts, is not given to delivering surprises. But the company acted immediately: Greg Hayes, the chief financial officer, was quickly promoted to CEO, and Edward K...
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