He resigned without any pressure from the board, they said, as the need for a new approach to the company's mounting problems became clear.
He resigned from the board yesterday and the stock closed at $3.87.
Following the Board's vote, nine trustees resigned from the board.
He was reinstated a month later but resigned from the board in 1986.
The following year Cole resigned from the board and retired.
Emanuel resigned from the board in 2001 when he ran for Congress.
Days later, the two remaining independent directors resigned from the company's board.
Despite his good record as chairman he resigned from the board under controversial circumstances in 1981.
The resolution was not successful and as a result, Ellis resigned from the board.
When he resigned from the board he had been a director for 51 years.