But I still think, as originally reported here, that Gary’s departure from the trust signals either (a) the company is headed down a path to be taken private or (b) Gary is in the process of being ejected as the chief executive, a position he has held since 1996 (sitting simultaneously as one of the four directors of the family trusts for all that time).
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2 comments:
The corporate cholesterol in McClatchy is so encrusted that ejecting the CEO will create a leadership vacuum and power struggle. It would still be a sinking ship with the deck hands fighting over the captain’s chair.
The board has been passive, letting Pruitt do pretty much what he wants. So maybe they are afraid of a power vacuum.
But, Pruitt's resigntion from the 4 family trusts makes him look weaker. We'll see if the board steps up.
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