Campaigning to maximise shareholder value has become more respectable
IN 1985, Time magazine decided that American businessman T. Boone Pickens was worthy of its March 4 cover story. And why not? He had just made his mark as the guy who had doggedly fought a proxy battle with the far larger Gulf Oil, pushing the latter into a merger with Standard Oil of California, thus forming what is known today as Chevron.
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