1. Articles in category: BoardNews

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    1. Jeff Bezos Was Paid $81,840 Last Year—And He Hasn’t Had a Raise in 20 Years

      Jeff Bezos Was Paid $81,840 Last Year—And He Hasn’t Had a Raise in 20 Years

      You don’t become the world’s richest person by being a mere salaryman. In fact, the monthly paycheck of the world’s richest person, Amazon CEO Jeff Bezos, is barely bigger than that of a junior engineer at his company. Last year, Bezos took home $81,840, Amazon’s latest proxy statement revealed...

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    2. Barclays Hits Back at Activist’s ‘Misleading’ Criticisms

      Barclays Hits Back at Activist’s ‘Misleading’ Criticisms

      (Bloomberg) -- Barclays Plc escalated its war of words with the activist shareholder who is seeking radical changes to the lender’s existing strategy, saying his plans to cut back the investment bank are “unclear and based on multiple factual errors.” The British bank said it strongly opposes Edward Bramson’s appointment to its board, according to a statement on Thursday...

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    3. Jeff Bezos Made a Jab at eBay in his Annual Shareholder Letter, Boasting that 'independent sellers do so much better selling on Amazon'

      Jeff Bezos Made a Jab at eBay in his Annual Shareholder Letter, Boasting that 'independent sellers do so much better selling on Amazon'
      • Amazon CEO Jeff Bezos published his annual letter to shareholders on Thursday.
      • In the letter, Bezos compared the growth in merchandise sales of third-party sellers on Amazon since 1999 with the growth of third-party sales on eBay during the same time period, which shows Amazon beating out its rival.
      • Bezos also wrote that compared to Amazon's sales of its own merchandise, "third-party sellers are kicking out first party butt. Badly."...
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      Mentions: Amazon risk eBay
    4. Vanguard to Take Tougher Stance Against Overextended Board Members

      Vanguard to Take Tougher Stance Against Overextended Board Members

      Vanguard Group is taking a tougher stance against companies whose board members it believes are stretched too thin.

      The world’s second-largest asset manager plans to vote, in most cases, against corporate executives running for two or more public-company board seats beyond where they are employed, a Vanguard spokeswoman said. Vanguard said it would generally vote against other board candidates seeking more than four board seats at one time...

       

       
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    5. 'It Doesn't Look Good': Lawmakers Grill Bank CEOs on Lavish Pay

      'It Doesn't Look Good': Lawmakers Grill Bank CEOs on Lavish Pay

      The seven big bank CEOs who testified on Capitol Hill Wednesday morning are facing pressure over their lavish compensation. In an exchange between New York Democrat Nydia Velázquez and Citigroup CEO Michael Corbat, Velázquez asked Corbat to defend the fact that his $24.2 million yearly salary for 2018 was 486 times his own company’s median worker salary at $49,466. “I don’t think that’s fair for me to judge,” Corbat said...

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    6. Boeing Shareholders Are Suing the Company, Claiming it Put Safety At Risk in a Reckless Pursuit of Profits that Ended in the 2 Fatal 737 Max Crashes

      Boeing Shareholders Are Suing the Company, Claiming it Put Safety At Risk in a Reckless Pursuit of Profits that Ended in the 2 Fatal 737 Max Crashes
      • Boeing's problems continue to mount after shareholders launched a legal challenge, claiming they were defrauded over the 737 Max's safety deficiencies.
      • The lawsuit alleges securities fraud violations after the company's stock plummeted $34 billion since a fatal crash in Ethiopia last month, the second of two.
      • Boeing "effectively put profitability and growth ahead of airplane safety and honesty," according to the filing at a Chicago federal court, as reported by Reuters...
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      Mentions: risk lawsuit Fraud
    7. TransAlta Board Nominees Win Glass Lewis Support Amid Proxy Threat

      TransAlta Board Nominees Win Glass Lewis Support Amid Proxy Threat

      TransAlta Corp. won support for its board nominees from a prominent shareholder advisory firm that noted two activist investors threatening a proxy fight haven’t filed the paperwork with regulators for their own candidates. Glass Lewis & Co. said it believed there was no substantial issue with any of the Alberta utility’s 12 nominees, including two affiliated with Brookfield Asset Management Inc., related to the asset manager’s $750 million TransAlta investment announced last month...

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    8. Verint Rejects Neuberger Berman's Call to Replace Directors

      Verint Rejects Neuberger Berman's Call to Replace Directors

      (Bloomberg) -- Verint Systems Inc. has rejected Neuberger Berman Group’s call to replace three of its directors after the software company’s improved financial outlook and share price allowed it to push back on the investor’s demand for an overhaul. Neuberger Berman, which holds 2.6 percent of Verint, nominated the directors for election at the company’s 2019 annual general meeting...

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    9. UBS Shareholders Urged to Reject Pay Proposal for Top Executives

      UBS Shareholders Urged to Reject Pay Proposal for Top Executives

      (Bloomberg) -- UBS Group AG investors should reject the bank’s compensation report, shareholder adviser Glass Lewis said, citing high fines in a legal dispute and a generally lackluster performance of bank shares. UBS had proposed a pay package that included 14.1 million francs ($14 million) in compensation for Chief Executive Officer Sergio Ermotti for last year...

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    10. Former Nissan CEO Carlos Ghosn Slams Executives for 'Playing a Dirty Game'

      Former Nissan CEO Carlos Ghosn Slams Executives for 'Playing a Dirty Game'
      • Embattled former Nissan-Renault-Mitsubishi executive Carlos Ghosn has released a video Tuesday citing "dirty games" played by Nissan executives after he was recently re-arrested.
      • The former CEO was expected to give a press conference on April 11 but the automotive executive was arrested for the fourth time since November last week instead.
      • Ghosn posted one of the largest bail figures ever in Japan last month as his ordeal against the country's authorities continues...
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    11. Cerner Announces Agreement with Starboard Value Regarding Board Refreshment

      Cerner Announces Agreement with Starboard Value Regarding Board Refreshment

      KANSAS CITY, Mo., April 09, 2019 (GLOBE NEWSWIRE) -- Cerner Corporation (NASDAQ: CERN) (“Cerner” or the “Company”) today announced that the Company has entered into a cooperation agreement (the “Cooperation Agreement”) with Starboard Value LP (together with certain of its affiliates, “Starboard”)...

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    12. Sony Shares Jump as Pressure From Activist Investor Dan Loeb Raises Prospect of Break-Up

      Sony Shares Jump as Pressure From Activist Investor Dan Loeb Raises Prospect of Break-Up

      One of Wall Street’s most powerful activist investors has trained his sights on Sony for the second time in six years, sending shares in the Japanese conglomerate up on the prospect of a break-up. Dan Loeb, the head of Third Point Capital, is planning to raise up to $1bn (£770m) to raise its stake in Sony and agitate for change, according to reports...

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    13. Gannett (GCI) Sends Letter to Shareholders Highlighting Value Creation Strategy

      Gannett (GCI) Sends Letter to Shareholders Highlighting Value Creation Strategy

      Gannett Co., Inc. (NYSE: GCI) (“Gannett” or “company”) today mailed a letter to shareholders in connection with the company’s 2019 Annual Meeting that highlights the company’s value creation strategy, which focuses on executing Gannett’s digital transformation and USA TODAY NETWORK strategy, delivering digital marketing solutions to businesses and producing award-winning content that engages consumers...

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    14. Activist Group Withdraws Resolution Challenging Shell Climate Policy

      Activist Group Withdraws Resolution Challenging Shell Climate Policy

      LONDON (Reuters) - An activist group said it has withdrawn a shareholder resolution calling on Royal Dutch Shell to change its climate policy after the oil and gas company reached a broad agreement with investors on the issue. The Anglo-Dutch energy company drew rare praise from investors and environmental activists in December when it set out plans to introduce industry-leading targets to reduce greenhouse gas emissions and link them to executive pay...

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