chairman

It's not unusual for a departing chief exec to maintain some involvement with the corporation he or she led, usually by holding onto or taking a position on the company's board of directors. That can be a bad idea. Consider GM's Ed Whitacre.

HSBC CEO Michael Geoghegan has threatened to quit if not made chairman. Will the board call the hot-tempered CEO on his bluff?

The new incoming CEO will need to convince shareholders that GM, which is only a year out of bankruptcy and has posted just two profitable quarters, is a worthy investment. He'll also have to make sure the carmaker's dramatic turnaround is built to last.

When Bank of America (BAC) was in deep trouble due to write-offs and possible scandals about payments to employees at Merrill Lynch just before it was acquired by the huge bank, a number of investors called for chairman and CEO Ken Lewis to step down. A more moderate group of shareholders suggest...