Hello, I am new to this discussion but I'm somewhat familiar with
Paracelsian's origins. Can anyone answer a question for me (if this
was addressed previously, I apologize. Feel free to ignore my
question.) On Dec. 13, 1996 there was a news item on Reuters saying
"as part of the company's planned managerial succession, Keith Rhodes,
chairman of the board, president and CEO, has stepped down as CEO.
Rhodes will continue to serve as chairman and president until the
annual shareholders' meeting. The board of directors has established a
search committee to seek a replacement. Pending the appointment of a
new CEO, the company has established the office of the chief executive
consisting of Keith Rhodes, Arthur Koch, chief financial officer and
John Babbish, chief science officer." My question(s) is: If this is
a planned succession, why has the search just recently been started,
and why doesn't Rhodes continue as CEO by himself until the search is
concluded? Thanks in advance for answers.
Chris L. |
