(Reuters) NEW YORK - Dissident Morgan Stanley shareholders ratcheted up the pressure on Chief Executive Philip Purcell Thursday, calling for the company’s securities businesses to be spun off as a separate firm led by executives driven off during a recent upheaval.
In an open letter to shareholders, eight retired executives campaigning for Purcell’s ouster released a detailed proposal that would essentially reverse the 1997 merger of Morgan Stanley with Dean Witter, Discover & Co.
More from LawInfo
Will Purcell’s ouster cause similar trends in the industry? Post your comments below or join a corporate law chat on LawInfo’s Legal Discussion Board.
Lindsey O'Neill is the Director of Legal Content and Strategic Development at LawInfo.com. Ms. O'Neill is a California licensed attorney based in La Jolla and experienced in a wide variety of legal and business matters.
0 responses so far ↓
There are no comments yet. Fill out the form below to post a comment.
Leave a Comment