1. Articles in category: BoardNews

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    1. Hawaiian Electric Industries blasts activist investor letter on replacing CEO

      Hawaiian Electric Industries blasts activist investor letter on replacing CEO

      Hawaiian Electric Industries on Tuesday blasted a letter sent by the CEO of activist investor ValueAct Capital Management urging company stakeholders to look outside the company for President and CEO Constance Lau’s successor as a “misguided, factually inaccurate and misleading attack.”...

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    2. UK: California Hedge Fund Seizes Control of Domino's Board Overhaul

      UK:  California Hedge Fund Seizes Control of Domino's Board Overhaul

      A Los Angeles hedge fund has wrestled control of Domino's Pizza's boardroom overhaul as the takeaway firms fights to end a long-running row with its franchisees. Activist investor Browning West was handed a seat on the board and will lead the search for the company's top two jobs of chairman and chief executive. In a move that could delay a resolution to the crippling row with franchisees, chief executive David Wild is to stay on longer than previously thought...

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    3. Corporations Grow Nervous as Compensation for Directors Rises

      Corporations Grow Nervous as Compensation for Directors Rises

      It’s nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, according to a new report released by executive headhunters Spencer Stuart. But thanks largely to stock grants some earned a lot more than that...

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    4. CBS Chief Will Get $100 Million Severance and Still Keep his Job

      CBS Chief Will Get $100 Million Severance and Still Keep his Job

      CBS acting Chief Executive Officer Joe Ianniello is in line for a hefty haul when Viacom completes its proposed merger with the broadcast network. While he won't get to lead the combined entity, he'll collect $100 million severance and remain chief of CBS with a new contract entitling him to tens of millions of dollars more. The arrangement illustrates the extent of CBS's effort to persuade Ianniello, a 22-year company veteran, to support the tie-up without having a shot at the top job...

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    5. After a Bitter Fight, Activist Boots Progenics Directors—and Eyes a CEO Swap Next

      After a Bitter Fight, Activist Boots Progenics Directors—and Eyes a CEO Swap Next

      Three of Progenics' directors could be out the door after activist investor Velan's picks were reportedly given the vote of approval from shareholders. (iStock) Progenics' board of directors has fought bitterly against activist investor Velan Capital, going so far as to sell out rather than lose the battle. Now, Velan reportedly has the shareholder votes to complete its revamp of the drugmaker's board––but the fight's not over yet...

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    6. A Former WeWork Employee is Suing Over Adam Neumann's $1.7 Billion Golden Parachute

      A Former WeWork Employee is Suing Over Adam Neumann's $1.7 Billion Golden Parachute
      • A former employee is taking WeWork to court over cofounder Adam Neumann's reported $1.7 billion golden parachute.
      • Natalie Sojka's lawsuit accuses Neumann and other WeWork directors of benefiting themselves at the expense of minority shareholders as their actions have "eviscerated" the value of WeWork stock and stock options...
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    7. Activist Investor Icahn Sells Nearly a Third ofHhis Occidental Petroleum Stake

      Activist Investor Icahn Sells Nearly a Third ofHhis Occidental Petroleum Stake

      HOUSTON (Reuters) - Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp's board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders released on Friday...

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    8. Gap Inc. Announces Art Peck To Step Down As Chief Executive Officer

      Gap Inc. Announces Art Peck To Step Down As Chief Executive Officer

      The Gap Inc. (NYSE: GPS) Board of Directors announced today that president and chief executive officer Art Peck will step down from his position and from the company’s Board. Mr. Peck will depart from the company after a brief transition. Effective immediately, Robert J. Fisher, the company's current non-executive chairman of the Board, will also serve as president and chief executive officer on an interim basis. Additionally, the Board has appointed Bobby Martin, chair of its compensation and management development committee, as lead independent director...

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    9. Square is Dropping an Accounting Metric After the SEC said it’s not Allowed

      Square is Dropping an Accounting Metric After the SEC said it’s not Allowed

      Square Inc. is making a change to its accounting after receiving a comment letter from the Securities and Exchange Commission in a move that has implications for other U.S. companies. The payment company is abandoning its practice of offering an adjusted revenue number, a metric that does not conform with Generally Accepted Accounting Principles, or GAAP, the U.S. standard, and that the Securities and Exchange Commission does not allow, as MarketWatch has reported in the past...

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    10. Papa John International: New CEO Shakes Up Top Management; CFO to Leave

      Papa John International: New CEO Shakes Up Top Management; CFO to Leave

      Papa John's International Inc said on Wednesday its finance head would leave the company next year as new Chief Executive Officer Rob Lynch made a slew of top level changes to turn around the pizza chain's stuttering business. Lynch, who was previously president of Arby's Restaurant Group Inc, took over the top job in August and was tasked by activist investor Starboard Value to improve Papa John's sales, which have been dented by the negative publicity surrounding its founder John Schnatter...

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    11. JPMorgan CEO Jamie Dimon Says WeWork's IPO Debacle Taught Him a Few Key Lessons

      JPMorgan CEO Jamie Dimon Says WeWork's IPO Debacle Taught Him a Few Key Lessons
      • Jamie Dimon, the CEO of JPMorgan, said he learned a few key lessons from WeWork's failed initial public offering.
      • The banking titan said in an interview with CNBC that the situation reminded him of the importance of having a strong corporate governance structure established before a company files its IPO paperwork.
      • The comments come after JPMorgan played a lead role in the office-leasing giant's attempted listing...
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      Mentions: Jamie Dimon WeWork
    12. PG&E Spent Millions on Lobbying After Declaring Bankruptcy

      PG&E Spent Millions on Lobbying After Declaring Bankruptcy

      The decision by Pacific Gas & Electric to declare bankruptcy in January did not prevent the utility giant from continuing to spend big on political influence in California’s Statehouse. The investor-owned utility’s transmission lines have been blamed for multiple wildfires, including the Tubbs fire in October 2017 and the Camp Fire wildfire in November 2018, the two most destructive and deadly wildfires in California history...

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      Mentions: bankruptcy PG&E
    13. Amid 737 Max Disasters, Boeing's Board Was Busy Elsewhere

      Amid 737 Max Disasters, Boeing's Board Was Busy Elsewhere

      Last Wednesday was a big day for Boeing's lead director and new board chairman, David Calhoun. It was the first time the company was reporting quarterly earnings since the Boeing board member had been named chairman of the embattled aircraft maker, which has faced intense scrutiny since two 737 Max jets crashed within months of each other in the past year, killing 346 people. Boeing's latest quarterly earnings had plunged more than 50%..

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      Mentions: Boeing
    14. McDonald’s to Pay Easterbrook Six Months Severance

      McDonald’s to Pay Easterbrook Six Months Severance

      McDonald’s Corp. MCD -2.72% said it would pay former Chief Executive Steve Easterbrook six months in severance after firing him due to a relationship with an employee that broke company policy. The burger giant said in a filing on Monday that the agreement absolved McDonald’s of liability resulting from Mr. Easterbrook’s termination and barred him from working for another fast-food company for two years...

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    15. Hudson Executive Names Eight Highly-Qualified Independent Director Candidates It Intends to Nominate to USA Technologies Board

      Hudson Executive Names Eight Highly-Qualified Independent Director Candidates It Intends to Nominate to USA Technologies Board

      Hudson Executive Capital LP (“Hudson Executive” or “HEC”), a New York-based investment firm and the largest shareholder of USA Technologies, Inc. (“USAT” or the “Company”) (USAT) with beneficial ownership of approximately 16.3% of common stock, today announced that it intends to nominate eight highly-qualified independent director candidates for election to the USA Technologies Board of Directors (“the Board”) at the Company’s next Annual Meeting of Shareholders, which is long overdue...

       

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