Boardroom coup
A boardroom coup is the sudden overthrow of the management or governing body of a corporation by an individual or small group of individuals, usually from within the company. [1]
Notable examples
- In 1940, a boardroom coup installed Raymond Postgate as the editor of British magazine Tribune.
- In 1955, Paramount Pictures staged a boardroom coup and assumed control of the DuMont Television Network. They then shut down the network.
- In 1985, Steve Jobs was stripped of management responsibilities by then-Apple CEO John Sculley. Jobs then resigned.
- In 1992, John F. Smith, Jr. became CEO of General Motors after a boardroom coup.
- In 1997, Apple Inc. (at the time known as Apple Computer inc.) and Steve Jobs ousted Gil Amelio in a boardroom coup, after which Jobs became interim CEO of Apple Computer, moving on to become full-time CEO shortly after.
See also
References
- ^ Mateja, Jim; Franklin, Stephen (27 October 1992). "Boardroom Coup At GM". Chicago Tribune. Archived from the original on 13 November 2011. http://www.webcitation.org/639fMaLo2. Retrieved 13 November 2011.
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