In the latest version of management musical chairs, outside directors are moving inside as chief executive officers.
More than a dozen U.S. companies have installed independent board members as permanent CEOs since late 2004. They include Boeing Co., Delta Air Lines Inc., Bristol-Myers Squibb Co., Sun-Times Media Group Inc. and Owens-Illinois Inc. The trend will accelerate, predicts Mark D. Ketchum, a Newell Rubbermaid Inc. director who was named CEO in 2005, initially on an interim basis.
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