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January 24, 2005

All Business: Firms cover up CEO firing with ‘retiring'

  • And those "retirements" can be very costly to investors.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — When Krispy Kreme Doughnuts Inc.'s board of directors ousted its CEO this week, you wouldn't have known it by reading the news release that the company issued since it just said he had "retired."

    That surely spins Scott Livengood's departure in the most positive light, especially since it was under his watch that the company's stock price has plummeted due to slumping sales and a probe into its accounting methods by federal securities regulators.


     
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