So, Ms. Whitman said she was out.
Now, the search for a replacement could drag on because the board members are split.
Jeffrey Immelt, the departing chief executive of General Electric, is in contention. But not everyone is convinced that he is the right choice.
HSBC to Buy Back Up to $2 Billion in Shares
HSBC plans to buy back up to $2 billion in shares after its performance proved better than expected in the second quarter.
The London-based bank has been overhauling its operations, shedding tens of thousands of jobs, selling underperforming businesses and shrinking its global investment banking business. And as its prospects have improved, it has announced $5.5 billion in share repurchases since the second half of last year.
Profit was up to $3.9 billion in the second quarter, from $2.5 billion the year before.
The bank is also headed toward a change of leadership. Mark Tucker, the chief executive of AIA, will replace Douglas Flint as chairman in October. Mr. Tucker will have to find a chief executive to replace Stuart Gulliver, the chief executive, who plans to retire.
Cooling Off China’s Deal Spree, Continued
Here’s a roundup of the latest efforts to hem in China’s giant, acquisitive conglomerates:
• The Chinese government has asked Anbang Insurance, the owner of the Waldorf Astoria hotel, to sell its overseas assets and bring home the proceeds, Bloomberg News reported, citing unnamed sources. (Anbang is the conglomerate whose chairman, Wu Xiaohui, had been detained by the police last month.)
In a message on the WeChat messaging service, the company said, “Anbang at present has no plans to sell its overseas assets.”
• Guo Guangchang, the chairman of another conglomerate, Fosun International, said he supported a crackdown on overseas investments, Reuters reported. The rules were “essential and timely” to root out risky investments and sort out financial “chaos,” Mr. Guo said in a note that was posted on Fosun’s WeChat account.
“If no steps were taken then foreigners would simply think that Chinese firms were just ‘silly money,’” Mr. Guo added.
DowDuPont Said to Face Challenge from Four Activists
Dow Chemical and DuPont have already had to deal with two activist investors, Glenview Capital Management and Third Point, which are concerned about their merger. Now the chemical makers have had Jana Partners and Trian Fund Management privately voicing concerns about how the businesses will…