The good news is that they separated the roles of Chairman and CEO, although this has not been talked about here. More juicy talking about the potential conflict.
They are different, but compatible, roles, which should be held by different people.
The discussion in this article shows that they still don't get it but the spilt roles is good governance.
Onésimo Alvarez-Moro
See article:
Don't plan on John Mack getting too comfortable in the chairman's office once his hand-picked successor takes over as chief executive.
Mack, 64, will cede the CEO role at Morgan Stanley (MS) to James Gorman on Jan. 1 and said he plans to remain chairman for "at least two years." But with recent history as a guide, that time frame could be cut well short.
On Wall Street, an industry known for charismatic leaders and big egos, executives prefer being lonely at the top. Splitting the chairman and CEO roles at banks is traditionally designed for quick transitions, not power sharing.
See full Article.
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