Chairman

WASHINGTON - President Obama forced out the head of the IRS on Wednesday, seeking to restore the public's faith in the tax agency while asserting a measure of control over a rapidly growing political problem. Making a hastily scheduled statement at the White House, Obama denounced the targeting of conservative groups by the Internal Revenue Service as "inexcusable" and pledged to "do everything in my power to make sure nothing like this ever happens again. " "Americans are right to be angry about it, and I am angry about it," he said.

NEW YORK - Jamie Dimon survived a bruising fight to strip him of his chairmanship, but directors at JPMorgan Chase & Co. may still have to calm restive shareholders. Dimon, JPMorgan's savvy chairman and chief executive, easily beat a proposal to split the roles following a stunning trading loss a year ago. The nation's biggest bank reported Tuesday that 32% of shareholders endorsed the measure, according to a preliminary tally. That's a sharp drop from the 40% who supported stripping Dimon of his chairmanship last year.

The breach of contract suit, filed by Steven Kitchen and Woodside Design Associates in Redwood City, Calif., accuses Apple of reneging on a 1985 oral deal to acquire Woodside, developer of a flat-panel video screen for computers. The suit claims that Woodside's agreement with founder and then-Chairman Steven P. Jobs was broken once Jobs was ousted from power in a bitter dispute with John A. Sculley, president and now chairman.

NEW YORK - A major shareholder vote next week has Wall Street abuzz over the power and future of Jamie Dimon, leader of the country's biggest bank. As chairman and chief executive of JPMorgan Chase & Co., Dimon burnished his reputation by steering the bank through the financial crisis virtually unscathed. Charismatic and articulate, Dimon emerged as Wall Street's most public face, an effective spokesman for an industry under siege by lawmakers, regulators and protesters. Now Dimon is facing a shareholder push to strip him of the chairman's job. Tuesday's vote at JPMorgan's annual shareholder meeting in Tampa, Fla., isn't binding, but it has nevertheless become a marquee referendum whose results could rattle nerves across the financial industry.

Best Buy Co. Inc. just can't catch a break. Chairman and founder Richard Schulze is jumping ship earlier than expected, taking with him a 20.1% stake in the struggling electronics retailer. Schulze, 71, told the company's board Thursday morning that he is resigning immediately. “I continue to believe in Best Buy and its future -- and care deeply about its customers, employees and shareholders,” he said in a statement. “There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today's customers and building pathways to the next generation of consumers.” Originally, Schulze was to step down as chairman on June 21 and stay on as a director through June 2013, relinquishing his positions in the wake of a scandal involving former Chief Executive Brian Dunn.

Richard L. Pozzo, president of Edward M. Pozzo Co., Los Angeles, has been elected chairman of the Associated General Contractors of California's Building Division board of directors.

Fox Filmed Entertainment co-chairman Tom Rothman, who has led the News Corp.-owned studio together with partner Jim Gianopulos since 2000, is leaving his post on Jan. 1. The unexpected move ends long and largely successful run atop the studio for Rothman, who first came to Fox in 1994 when he founded the specialty label Fox Searchlight Pictures. He previously worked as president of the independent studio Samuel Goldwyn Pictures. With Rothman's exit, Gianopulos will become the sole chairman of Fox, the studio behind "Avatar," "Ice Age," and "Prometheus.

A 58-year-old former United Technologies Corp. executive has been elected chairman, chief executive and a director of the Emhart Corp., a diversified manufacturing company based in Farmington, Conn. Peter L. Scott, elected Thursday by Emhart's directors, will take office around Dec. 1, replacing T. Mitchell Ford, a company announcement said. Ford will serve as chairman of the executive committee until his retirement in April, 1986, and will continue as a director after his retirement.

Texas Air Corp.'s boss, Francisco A. (Frank) Lorenzo, strengthened his hold over Eastern Airlines by becoming chairman of the carrier on Friday. Eastern's board of directors also elected Phil Bakes president and chief operating officer of the airline. Lorenzo, 46, has been chairman and chief executive of Texas Air since 1980.

Walter L. Weisman, who as president and chief executive of American Medical International shepherded the company through nearly two years of restructuring, was named Tuesday as its next chairman. AMI is a major health services provider with annual revenue of about $4 billion. Weisman will succeed Royce Diener, who will step down after the Beverly Hills company's Jan. 21 annual meeting. Diener, who joined the company in 1969 as an outside director, has been its chairman since 1979.

WASHINGTON - The Obama administration on Friday condemned Russia's delivery of advanced antiship missiles to Syria and its buildup of warships in the eastern Mediterranean, arguing that the Kremlin's escalating support for its longtime ally in Damascus could prolong the civil war. Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, said Russia's military moves would "embolden" Syrian President Bashar Assad's forces and extend the suffering in...

SACRAMENTO - California legislative leaders and 10 public employee unions announced opposition Wednesday to any sale of the Los Angeles Times and other Tribune Co. newspapers to a pair of wealthy brothers who fund conservative causes. In a letter dated Tuesday to Bruce Karsh, president of Oaktree Capital Management, the largest shareholder in Tribune Co., and chairman of its board of directors, the unions said David and Charles Koch are "anti-labor, anti-environment, anti-public education and anti-immigrant.

Occidental Petroleum shareholders ousted Chairman and former Chief Executive Ray Irani in a dramatic annual meeting that signaled the end of an era for the storied oil and gas producer. It concluded a nearly three-decade run as a director of the Los Angeles company for the 78-year-old Irani. He first took the reins as CEO in 1990 from oil industry legend Armand Hammer. Back then, Occidental was considered something of a joke in the industry, with far-flung holdings in such odd areas as film production and horse and cattle breeding.

WASHINGTON -- The head of the Consumer Financial Protection Bureau will deliver his semi-annual report to the Senate Banking Committee on Tuesday morning, but he's not welcome to do the same before a House panel. House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said bureau Director Richard Cordray was not legally appointed to the position and therefore the panel cannot accept his testimony. It was the latest salvo in a long-running battle by top Republicans against the bureau, which was created in 2010.

WASHINGTON - Republicans have stepped up their pressure to limit the wide-ranging powers of the nation's watchdog over consumers' money matters. The head of a key House committee overseeing the Consumer Financial Protection Bureau said he would no longer accept the testimony of Richard Cordray, the bureau's director, before his panel because he doesn't believe Cordray was legally appointed to his post. Cordray, who delivered his semi-annual report to the Senate Banking Committee on Tuesday, was set to do the same in coming weeks in the House, as required by law. But Rep. Jeb Hensarling (R-Texas)

The woman who led History Channel to historic ratings has been promoted. Nancy Dubuc, president of entertainment and media for A+E Networks, parent of cable networks History, Lifetime and A&E, has been tapped as president and chief executive of the company, which is jointly owned by Walt Disney Co. and Hearst Corp. Dubuc, 44, will succeed Abbe Raven, 60, who has been chief executive of A+E Networks since 2005. Raven will stay on and become chairman. Dubuc will report to both Raven and the A+E board of directors.

Ronald G. Segel, 56, chairman and chief executive of the publishing company that produces Variety and Daily Variety. A native of Boston and graduate of Harvard Business School, Segel first practiced as a certified public accountant. In 1971, he took a position as vice president of finance for Cahners Publishing Co., which now produces the two entertainment industry trade papers. The company, which publishes more than 50 industry-related papers, purchased Variety and Daily Variety in 1987.

J. P. Guerin, 55, the largest single shareholder of San Diego-based PSA Inc., on Monday was elected chairman of the board of the parent corporation of Pacific Southwest Airlines, according to an airline spokesman. Guerin owns about 80% of Pacific Partners and Mitchum Management Corp., two Los Angeles-based companies that in turn own 11% of PSA Inc.'s stock, a PSA spokesman said. The position of chairman has been vacant since William R. Shimp died in May, 1984.

SACRAMENTO -- John Burton, the combative chairman of the California Democratic Party, isn't too worried about Republican Abel Maldonado running for governor next year.  "Oh, I bet Jerry Brown is wetting his pants," he quipped Friday before speaking during the opening night of his party's convention here in Sacramento. Maldonado filed paperwork earlier this month to begin raising money for a potential gubernatorial campaign. A former state lawmaker, he was appointed as lieutenant governor by Gov. Arnold Schwarzenegger but lost the seat to Gavin Newsom in the 2010 election.

For several days, Occidental Petroleum Corp. has been roiled by speculation that its CEO search was really a power play by Executive Chairman Ray Irani to push out his onetime protege, Chief Executive Stephen Chazen. On Monday the Westwood company's board of directors took the unusual step of saying there is "no fight at the top" of the oil and gas producer, but made clear that the two men who have run Occidental for the last decade were on their way out in one way or another. The board's statement, billed as unanimous, went on to say that the 78-year-old Irani played no role in the February decision by independent directors to identify a successor for Chazen, 66. Chazen acknowledged Monday that he didn't ask to leave Occidental but said, "I respect the board's decision to seek a new generation of leadership.