What do a jewelry retailer, a data warehouse and a microprocessor manufacturer all have in common these days? A passion for healthier governance, it seems.
Tiffany & Co., ChoicePoint and Analog Devices are the latest devotees of a new craze in Corporate America: scrapping the company poison pill. All three ditched their plans within the last few weeks, joining a boomlet of corporations abandoning their “shareholder rights plans”—plans usually billed as a defense against hostile takeovers, and just as often denounced as extra armor for managers under fire.
