Too much nepotism at the top table...
Published: 10 May 2002 14:34 GMT
EMC is to reshuffle its management board after disgruntled investors yesterday called for more independent overseers.
The storage giant has been beset in the last year by bad results and a plummeting share price.
Investor Walden Asset Management claimed that only three of the current seven board members were independent, with the rest of the places filled by friends and family of co-founder Richard Egan.
EMC's shares fell five per cent on the news yesterday to rest at $7.87, after falling more than 80 per cent in the last year.
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