Subject: [NEXTEL-1] Panel Weighs Divided CEO, Chair Posts

From: Marcel <[email-masked]>
Date: Thu, 09 Jan 2003 13:09:42 -0500

Panel Weighs Divided CEO, Chair Posts
Thu Jan 9, 2:55 AM ET

NEW YORK (Reuters) - A high-powered panel co-led by Treasury
Secretary nominee John Snow is likely to urge public companies Thursday
to consider splitting the chairman's role from the chief executive post or to
name a "lead" director, the Wall Street Journal reported on Thursday.

The group, created last year to restore
investors' battered trust, retreated from stronger
support for separating the two top jobs after
some members objected, the newspaper said,
citing people close to the situation.

One opponent is believed to be Ralph Larsen,
former chairman and CEO of healthcare
company Johnson & Johnson (NYSE:JNJ -
news). An assistant said Mr. Larsen was out of
town Wednesday, according to the report.

A second panel member, whose identity wasn't
immediately known, wrote a low-key dissent
after threatening to object more vocally.

Because of such objections, "I don't think you
will see a recommendation that's exclusive
splitting the chairmanship," a person familiar
with the matter told the newspaper.

Unlike an outside chairman, who has broad
powers to convene and conduct board
meetings, a lead director usually presides over sessions held without
management and acts as the board's liaison with top executives.

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