On July 18, 1996, Albert J. Dunlap was named CEO of Sunbeam Corporation, a troubled maker of small appliances and other household products' The company’s stock price surged 50 percent over two days after the appointment was announced. Investors expected Dunlap would pursue a slash-and-burn make over similar to those he had employed at other ailing companies-divest fringe businesses, cut jobs, improve operating efficiency, boost profits, sell the company at a tidy profit for shareholders, cash in his own stock options, and then move on to tackle his next challenge. Only months before, Dunlap had become $100 million richer by turn¬ing Scott Paper Company around and then cutting a deal to sell Scott to Kimberly-Clark at a price very favorable to Scott shareholders.