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Tuesday April 19, 08:28
Purcell agrees to come to peace with dissident executives
(by Dr.Goldfinger)

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Purcell agrees to come to peace with dissident executives Philip Purcell, Morgan Stanley’s chief executive, shows signs of willingness to negotiate with dissident executives that demanded ouster of the company’s CEO.

Some analysts say the move may signal a weak state of the company’s chief executive who does his best to quell the uprising.

On March 28, Mr. Purcell replaced three senior executives by Zoe Cruz, who was named the company’s co-president, and Stephen Crawford with the same position evoking anger as the ousted executives said Purcell did it because they were less loyal to him.

Dissident executives submitted letters calling the board to take certain steps to improve the situation and force Purcell to step down. The board reacted very reluctantly as it is strongly backed by Mr. Purcell, people say.
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Read the related news and articles:
20 May 2005 09:58 AM Morgan has to pay Perelman $1.45 billion
20 May 2005 05:38 AM MORGAN STANLEY RAISED CLARIANT TO "EQUAL-WEIGHT"
19 May 2005 10:47 AM Morgan Stanley’s ads will be pulled out from media with negative publications
18 May 2005 09:00 AM MORGAN STANLEY RAISED ELECTROLUX TO "EQUAL-WEIGHT" FROM "UNDERWEIGHT"
17 May 2005 07:49 AM Morgan Stanley ordered to pay out $604 mln to Perelman
 


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