Turn and face the changes

All the right ingredients were there for a governance showdown. In 1997, entertainment, aviation and energy company Ogden Corp was castigated in the press by Business Week, which ranked the company ninth among the worst boards in America; and by Chief Executive magazine, which included Ogden's board as one of its five worst. Complaints centered around the fact that the directors were too old, too narrowly focused and that interlocking relationships between them and the company compromised