By 1997, the company was losing money (a loss of $44.1 million that year alone), and in June, 1998, shareholders approved a deal which saw American actors' agent and ex-Disney executive Michael Ovitz take charge.
Michael Ovitz (born 1946), former president of Disney and Creative Artists Agency
Michael Jackson | Order of St Michael and St George | Michael Bloomberg | Michael Jordan | Michael Caine | Michael | Michael Palin | Michael Moore | George Michael | Michael Dukakis | Michael W. Smith | Michael Douglas | Michael Bolton | Michael Schumacher | Michael J. Fox | Michael Bublé | Michael Faraday | Michael Moorcock | Michael Kors | Michael Brecker | Michael Bay | Michael Nyman | Michael Phelps | Michael Ondaatje | John Michael Montgomery | St. Michael | Michael Landon | Saint Michael, Barbados | Michael Somare | Live! with Kelly and Michael |
As former Vice President and Publisher of McGraw-Hill's trade business books division, Jeffrey Krames has personally edited and published more than 275 business books, including many award-winning, best-selling titles on business luminaries that include Jack Welch, Michael Ovitz, Ross Perot, William Paley, Michael Dell, Bill Gates, Herb Kelleher, and Lou Gerstner among others.