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Quite apart from any awkwardness in the way he handled the hostile bid by rival Oracle for the firm he was running, Craig Conway seems to have been an unpopular CEO of PeopleSoft, a large enterprise-software company. Three managers who reported directly to him were apparently close to resigning in frustration, and the board was unhappy about "mis-statements" he made to analysts. So even though there was no "smoking gun", as the board put it, Mr. Conway was fired on October 1st and replaced by the firm’s founder, David Duffield.
Mr. Duffield’s brief is now to address Mr. Conway’s perceived shortcomings and his obsession with fending off the $ 7.7 billion takeover bid from Oracle. At the same time, says Paul Hamerman of Forrester, a research firm, Mr. Conway offered no compelling technological vision for PeopleSoft, and seemed deaf to "quite a noise level of customer complaints". Mr. Conway’s firing
A. this kind of trade is now illegal.
B. PeopleSoft has adopted anti-takeover strategy.
C. PeopleSoft demands a high price.
D. Mr. Conway rejects the takeover.
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