IIPM Admission

Wednesday, November 08, 2006

Halt to 115 year long heir’s legacy

IIPM MANAGEMENT INSTITUTE
Sacrificing the pedigree to save the sinking company seems to be the latest agility in demand. Makers of Wrigley’s, the highest-quality chewing gum & confectionery product, observed the legacy of the Wrigley family ending after 115 years on October 15, 2006, when Bill Wrigley Jr. decided to step down. Bill abdicated the throne to William Perez, a former Nike executive. The news propelled Wrigley’s stock price by 13.7%, the highest in 20 years to close at $53.23. Company’s third quarter sales stood prettier at 11% amounting $1.18 billion; worldwide shipment rose by 9%.

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IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

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