A Sampling of CEOs and Their Plans
MICHAEL EISNER, 54
Chairman and CEO, Walt Disney
Retirement date: None
Since President Michael Ovitz quit in December, 1996, there's no obvious successor to Eisner, who had heart bypass surgery in July, 1994.
ROBERTO GOIZUETA, 65
Chairman and CEO, Coca-Cola
Retirement date: None
Although President and COO M. Douglas Ivester is thought to be Coke's heir apparent, the board asked CEO Goizueta to stay on indefinitely in 1996. Goizueta has refused to state publicly that Ivester is his choice.
JACK WELCH, 61
Chairman and CEO, General Electric
Retirement date: Nov., 2000
The race to succeed Welch is on between several internal candidates. Succession plan is well developed and well regarded.
JOHN REED, 58
Chairman and CEO, Citicorp
Retirement date: Feb., 2004
Critics say Reed has pushed out some talented executives as they have risen, so that no strong No.2 has emerged. No clear successor is in sight.
ALEXANDER TROTMAN, 64
Chairman and CEO, Ford Motor
Retirement date: Jan. 1, 2000
Board member William Clay Ford Jr. and Automotive President Jacques Nasser are being groomed for the Chairman and CEO slots, respectively. But with neither yet ready to step up, the board extended Trotman's contract last March.
WILLIAM SMITHBURG, 59
Chairman and CEO, Quaker Oats
Retirement date: When successor named
Search now under way for CEO to replace Smithburg, who announced plans to resign following Quaker's ill-fated acquisition of Snapple.
ROBERT CRANDALL, 61
Chairman and CEO, AMR
Retirement date: None
Crandall rode out tumultuous contract negotiations and a brief pilots' strike. Has named American Airlines President Donald Carty as heir apparent but says only that he'll retire before age 65.
ALFRED ZEIEN, 67
Chairman and CEO, Gillette
Retirement date: None
Though COO Michael Hawley is expected to replace him, Zeien shows no signs of packing up. The board has extended his contract for three straight years and paid him bonuses to forgo retirement.
WILLIAM STIRITZ, 63
Chairman and CEO, Ralston-Purina
Retirement date: Sept. 30, 1997
After 15 years on the job with no obvious replacement, the board offered Stiritz a deal: He swapped short-term pay for a huge option grant to focus on finding a successor. He has named two co-CEOs to replace him but will remain chairman.
RONALD ALLEN, 55
Chairman and CEO, Delta Air Lines
Retirement date: July 31, 1997
Allen was ousted by the board in May after cost-cuts alienated workers and hurt morale. An interim CEO was named in July, and an outside search for a new CEO is under way.
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