Activists Attack Bed Bath & Beyond
A trio of activist investors thinks Bed Bath & Beyond Inc.'s business model has gotten sleepy and plans to give the big-box retailer a wake-up call...
-
Articles in category: BoardNews
-
Read Full Article
-
Ackman's Fund Zooms Ahead as he Casts Himself as Corporate Helpmate
Read Full Article(Reuters) - For months, activist investor William Ackman promised to rebuild his record. Now he has some numbers to prove it...
-
Intel Board of Directors Extends Andy Bryant’s Term as Intel Chairman until 2020
Read Full ArticleSANTA CLARA, Calif.--(BUSINESS WIRE)--Mar 25, 2019--Intel Corporation today announced that its board of directors had unanimously decided to extend Andy Bryant’s term as Intel chairman for one additional year, to help support Intel’s leadership transition. If Bryant is re-elected at Intel’s 2019 annual stockholders’ meeting, his term as chairman would continue through the conclusion of Intel’s 2020 annual stockholders’ meeting. Bryant has informed the board that he does not expect to stand for re-election again in 2020...
-
Bayer CEO: Executive Team has Board's Backing Despite Key Loss in Roundup Court
Read Full ArticleLast week, Bayer lost phase one of the first Roundup bellwether trial, which could set the tone for more than 11,200 others waiting in the wings. And Bayer's shares took an immediate beating...
-
Caesars And Eldorado Resorts: Two Is Better Than One
Read Full ArticleThere are reports that casino operators Eldorado Resorts ( ERI ) and Caesars Entertainment ( CZR ) are under initial discussions to explore merger possibilities. Noted activist investor Carl Icahn & Co. has increased his stake in CZR and is currently pushing for the sale of the company. CZR has provided limited financial information to ERI to commence the due diligence process...
-
Hedge Fund Appaloosa Unimpressed by Allergan Board Promises
Read Full ArticleREUTERS: Activist investor Appaloosa LP responded to proposed concessions from the board of Allergan Plc by saying it had done everything "except what needs to be done" and calling on other investors to take further "disruptive" steps to change the company. The hedge fund, led by billionaire David Tepper, has been pressing Allergan since last year to separate the roles of CEO and chairman or potentially sell or merge the company...
-
Rolls-Royce Shares Fall as ValueAct Cuts Stake
Read Full ArticleBy Oliver Griffin Shares in Rolls-Royce Holdings PLC (RR.LN) fell Monday after activist investor ValueAct Capital Management LP cut its stake in the company by around 1.5%. ValueAct has sold 1.9 billion of its shares in Rolls-Royce. Shares at 0956 GMT were down 1.6% at 889.40 pence, valuing the 1.5% holding at around 254.1 million pounds ($335.5 million). The activist investor is the largest individual shareholder in Rolls-Royce and continues to hold a 9.5% stake in the company...
-
Methanex Investor M&G Plans to Nominate Four Board Directors
Read Full Article(Bloomberg) -- The largest shareholder in Methanex Corp. plans to nominate four directors to the company’s board on the grounds that new leadership is needed to oversee the development of a new methanol plant in Louisiana...
-
Texas Pacific Land Trust Tries to Fend Off Activist Investor, Delays Meeting
Read Full ArticleTexas Pacific Land Trust (NYSE: TPL ) says it will postpone by two weeks until May 22 the date of a special meeting where shareholders will vote to fill an open trustee spot, taking a step to fight off a large investor seeking to install its own trustee and begin selling off TPL's portfolio. TPL wants shareholders elect an independent trustee, while ~23% owner Horizon Kinetics and its partners say they will seek to nominate Eric Oliver, president of the SoftVest hedge fund...
-
Bristol-Myers Squibb Board of Directors Sends Letter to Shareholders
Read Full ArticleBristol-Myers Squibb Company’s BMY, -1.55% Board of Directors today sent an open letter to the Company’s shareholders regarding the previously announced definitive merger agreement with Celgene Corporation CELG, -1.65% In addition to its March 19 investor presentation, the Company today also made available on Bristol-Myers Squibb’s website ...
-
Rent The Runway Joins The Unicorn Club At A $1 Billion Valuation
Read Full ArticleRent the Runway joins the unicorn club with a $1 billion evaluation after receiving $125 million in funding...
Mentions: Rent The Runway -
Pinterest’s IPO Structure Could Give CEO Ben Silbermann the Right to Control the Company from Beyond the Grave
Read Full Article- Pinterest's S-1, publicly filed on Friday, revealed a unique share structure.
- The company has dual-class shares, which give some shareholders, like founding CEO Ben Silbermann, greater voting powers than other investors.
- But the structure also gives Silbermann's estate the ability to retain its extra voting superpowers for between 90 days and 540 days after his death.
Silicon Valley's power players are already preparing for the grim spectre of mortality...
-
Levi’s Leather Patches Come Under Fire by New Shareholder
Read Full ArticleNew York. Levi Strauss & Co., fresh off its $623 million initial public offering, is already facing calls for change from one shareholder. PETA, the animal-rights organisation, said it purchased the minimum number of shares needed to be able to submit shareholder resolutions and speak at Levi’s annual meetings. PETA is targeting the cow skins that Levi’s uses to make the iconic brown patches that are sewn onto the backsides of its pants...
-
Nike Argues for Dismissal of Lawsuit Against Board of Directors
Read Full ArticleAttorneys for Nike on Friday argued during a court hearing that a lawsuit against the company's board of directors should be dismissed because it lacks sufficient facts. The lawsuit was the second sweeping lawsuit filed against the sportswear giant in the wake of claims about a toxic workplace. Plaintiffs argued the lawsuit has enough facts to survive Nike's motion to dismiss. A ruling is expected within three weeks...
-
Discovery’s David Zaslav Made Nearly $130 Million Last Year
Read Full ArticleDiscovery President and CEO David Zaslav hauled in almost $130 million in 2018, more than tripling his 2017 executive compensation, according to a Friday SEC filing. That huge all-in number was mostly thanks to an enormous increase in Zaslav’s options award. In 2018, that category alone surpassed $100 million...
-
Bombardier Executive Pay Falls Four Per Cent; CEO Unchanged at US$10.6 Million
Read Full ArticleTotal compensation for Bombardier's top five executives fell four per cent last year to US$29.5 million, according to a proxy circular released ahead of the company's May 2 annual meeting...
-
Hot Video Meeting Startup Zoom Filed to Go Public, and it's Profitable
Read Full Article- Zoom, the $1 billion video conferencing startup, publicly filed for an IPO on Friday.
- The company didn't price its upcoming IPO, but indicated in the filing that it will list on the Nasdaq under the ticker symbol "ZM."
- The company is profitable, and grew revenue 118% in fiscal 2019.
- Zoom was last privately valued at $1 billion or more...
-
Shaq is Investing in 9 Papa John's Locations and Joining the Pizza Chain's Board
Read Full Article- Shaquille O'Neal is joining Papa John's board of directors and investing in nine Atlanta area locations.
- Papa John's shares were up more than 3% following the news.
- Watch Papa John's trade live.
The NBA Hall of Famer Shaquille O'Neal is joining Papa John's board of directors and investing in nine locations in the Atlanta area, the company said Friday. He will also become a brand ambassador for the pizza chain.
-
Deutsche Bank U.S. Employees Said to Get Major Share of Bonuses
Read Full Article(Bloomberg) -- Deutsche Bank AG employees in the U.S. received the lion’s share of bonuses, according to a person familiar with the matter, as the lender cut its pool to drive down costs. The amount set aside for 2018 fell to 1.9 billion euros ($2.2 billion) from 2.2 billion euros a year earlier, the lender said in its annual report. The investment bank division saw the biggest reductions, with a decline to 1.2 billion euros from 1.4 billion euros last year including severance pay...
-
Breaking News: U.S. Activist Investor Elliott Loses Hyundai Proxy Fight
Read Full ArticleSEOUL--U.S. hedge-fund manager Elliott Management Corp. lost its battle to boost dividends and gain board seats at South Korean auto giant Hyundai Motor Group, highlighting the challenge activist firms face in proxy fights with Asia's family-run businesses. The setback follows a victory last year against Hyundai, when the conglomerate called off a corporate restructuring that Elliott said lacked business rationale and hurt shareholders...
-
Duke Energy CEO’s Pay Dropped to $14M After Big 2017 Bounty
Read Full ArticleCHARLOTTE, N.C. (AP) — Duke Energy Corp. CEO Lynn Good’s reported compensation is down to $14 million after a big raise in 2017 put her at more than $21 million. The Charlotte-based electricity and gas utility disclosed Good’s compensation Thursday in its proxy statement released ahead of the annual shareholders meeting in May. The proxy shows Good’s pay was only about 1 percent higher last year than it was in 2016 after her big 2017 increase...
-
Paul Singer Unnerves Korea's Billionaires Whether He Wins or Loses
Read Full Article... on the corporate governance failures and complex ownership structures that saddle South Korean stocks with some of the world's lowest valuations...
-
Rite Aid Shareholders Approve Reverse Stock Split
Read Full ArticleRite Aid shareholders have approved the company's reverse stock split, the company announced Thursday, a move aimed at keeping the drugstore chain's shares trading on New York Stock Exchange...
-
EssilorLuxottica: Shares Slump on New Tensions Within Board
Read Full ArticlePARIS (Reuters) - EssilorLuxottica's shares slumped on Thursday on new tensions in its boardroom as the top shareholder and executive chairman accused the Franco-Italian group's executive vice chairman of a power grab. Shares in spectacles and eyewear company EssilorLuxottica were down 4.9 percent in early session trading, among the worst performers on both the Paris and broader European markets...
-