Henry Silverman Interview | Why Cendant Split | businessweek.com
The "emotionally wrenching" decision to dismantle the travel and real estate outfit will benefit shareholders, says the chairman and CEO. When did you begin looking at this break-up? We engaged Evercore Partners [run by former Assistant Treasury Secretary Roger Altman] in November of 2004. This has been like an elephant -- a long gestation period. We then brought in J.P. Morgan (JPM ) because we wanted to make sure whatever we wanted to do was feasible. You don't want to announce something you can't execute. Both firms came independently to the conclusion that what made the most sense was a breakup.
