Chairman, squared off

What does it say about the cultures of two corporations when their respective chairmen engage in  essentially a teenager Twitter war?

“Tribune’s Attempt to Fend Off Gannett Heads for Symbolic Vote,” The Wall Street Journal, June 2, 2016 B1. One chairman sends a letter to the shareholders of the other chairman’s company, suggesting a conflict of interest in a proposed acquisition.  The response was a text that calls the first chairman (a former personal friend) a liar.

Is this behavior you’d expect of the chairman of a major corporation?  Is it a good idea to insult someone who buys ink by the barrel?

What’s the duty of a director to act in the best interests of the shareholders?

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Filed under Compliance, Culture, Directors, Duty, Duty of Care, Governance, Investor relations

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