Director Frank T Cary has cut his holding in half. He sold 26.000 shares at around 28 US dollars a piece, but keeps another 26.385. It doesn't look like the board is thinking in terms of a Lilly take-over. Or at least, he isn't.
Frank T. Cary
Former Chairman and CEO IBM Corporation
Biography:
Frank T. Cary has been a director since January 1990. He was Chief Executive Officer and Chairman of the Board of International Business Machines Corporation, a business equipment manufacturer, from 1973 to 1980. Mr. Cary currently serves as a director of Celgene Corporation, Cygnus, Inc., Lexmark International, Inc., Lincare, Inc. and Vion Pharmaceuticals, Inc
From IBM's site:
Frank T. Cary was IBM's chief executive officer from January 1973 through January 1981. He was chairman of the board from January 1973 through February 1983.
Born in Idaho and raised in Inglewood, Calif., Mr. Cary graduated from UCLA and received a master's degree in business administration from Stanford University.
Mr. Cary joined IBM in 1948 as a marketing representative in Los Angeles. He subsequently held a number of management positions and was named president of the Data Processing Division in 1964. In 1966, he was named vice president and group executive and general manager of the Data Processing Group. He became a senior vice president in 1967 and joined the board of directors the following year. In 1969 he joined the Corporate Office and became a member of the Management Review Committee. He was elected executive vice president and a member of the executive committee in March 1971 and president in June of the same year.
After stepping down as chairman and chief executive officer, Mr. Cary remained a director of the company until 1991.
Maybe it is time for Mr Cary to retire. He is 84 years old.
Erik |
