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    1. Activist Investor Blackwells Capital Pushes Peloton to Fire CEO

      Activist Investor Blackwells Capital Pushes Peloton to Fire CEO

      (Reuters) -Activist investor Blackwells Capital LLC wants exercise equipment maker Peloton Interactive Inc. to fire its chief executive and consider selling itself to a fitness or technology company, two sources familiar with the matter said on Sunday. The pandemic turned Peloton which offers stationary bikes and treadmills with livestreamed workouts from popular instructors into one of the market's hottest stocks, but the company's stock price has plummeted 84% in the last year...

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    2. What CEOs are Really Saying When They Lash Out Against 'woke' America

      What CEOs are Really Saying When They Lash Out Against 'woke' America

      "Woke" probably isn't the first adjective that comes to mind when describing Corporate America. But some CEOs are wearing their non-wokeness as a badge of honor. This week, when BlackRock CEO Larry Fink defended his firm's efforts to hold companies accountable for their environmental and social impact, he included a nod to his critics who've accused him of forcing a liberal agenda on businesses. "It is not a social or ideological agenda," he wrote in his closely watched annual letter to clients...

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    3. Kohl’s Said to Get $9 Billion Bid Backed by Investor Starboard

      Kohl’s Said to Get $9 Billion Bid Backed by Investor Starboard

      (Bloomberg) -- A group backed by activist hedge fund Starboard Value LP is offering about $9 billion for retailer Kohl’s Corp., according to people familiar with the matter. The offer for Kohl’s from parties led by Acacia Research Corp. is $64 per share in cash, according to two people familiar with the matter, who asked not to be identified because the information was private. That’s a 37% premium to the department store chain’s closing price of $46.84 on Friday...

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    4. Countryside Agrees Deal with Activist, CEO Steps Down

      Countryside Agrees Deal with Activist, CEO Steps Down

      (Bloomberg) -- Countryside Properties Plc Chief Executive Officer Iain McPherson is stepping down just as the U.K. homebuilder reaches an agreement with an activist investor. Its shares slumped. The firm reached a deal with Browning West, that includes the appointment of partner Peter Lee to its board. The Los Angeles-based hedge fund has built a stake of almost 9.6% in Countryside and has pushed for a shake-up at the company...

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    5. The SEC Should Examine Oil CEOs With Pay Tied to ESG Metrics, Elizabeth Warren Says

      The SEC Should Examine Oil CEOs With Pay Tied to ESG Metrics, Elizabeth Warren Says

      (Bloomberg) -- Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation...

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    6. Activist Investor Elliott Management Takes Stake in Builder Taylor Wimpey

      Activist Investor Elliott Management Takes Stake in Builder Taylor Wimpey

      (Bloomberg) -- Activist investor Elliott Investment Management called on Taylor Wimpey Plc to shake up its management, blaming the homebuilder’s lagging share price on “the collapse in investor confidence in the company’s leadership in recent years.” In a letter to Taylor Wimpey’s board, the U.S. fund said it is one of the company’s top five shareholders and wants at least two new independent directors to be appointed. It is also pushing for a new committee to be formed to advise on operations...

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    7. Novartis Cuts Uneasy 20-year Ties to Roche With $20.7 Billion Voting Stake Sale

      Novartis Cuts Uneasy 20-year Ties to Roche With $20.7 Billion Voting Stake Sale

      (Reuters) -Novartis AG said on Thursday it would sell its nearly one-third voting stake in Roche back to its cross-town rival for $20.7 billion, disentangling the two competitors that had been linked by the investment for more than two decades. The deal extricates Roche from ownership ties to a major rival with strategic vetoing power, though it has however kept a passive role in the face of powerful Roche family shareholders...

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    8. Icahn Escalates Southwest Gas Feud by Launching Tender Offer

      Icahn Escalates Southwest Gas Feud by Launching Tender Offer

      (Bloomberg) -- Activist investor Carl Icahn is stepping up his fight with Southwest Gas Holdings Inc. The billionaire, who has disclosed a 4.9% stake in the utility, is offering to buy remaining shares for $75 each and initiating an effort to replace the board after the company ignored his call to walk away from a deal to buy Questar Pipelines from Dominion Energy Inc. “We tried to prevent the disastrous Questar deal,” Icahn wrote Thursday in an open letter to shareholders...

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    9. Executive Bonuses in Britain Increasingly Hinge on ESG Targets

      Executive Bonuses in Britain Increasingly Hinge on ESG Targets

      (Bloomberg) -- A growing number of executives in Britain are finding that their pay packages rely on how well they perform on environmental, social and governance metrics. Almost half the annual bonus plans awarded to executives at the biggest U.K. firms now include an ESG component, up from about a third a year ago, according to Alvarez & Marsal, which reviewed the most recent annual reports of FTSE 100 members...

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    10. Former Pepsi CEO Indra Nooyi Says She’s Never Asked for a Raise

      Former Pepsi CEO Indra Nooyi Says She’s Never Asked for a Raise

      (Bloomberg) -- Former Pepsi Co. Chief Executive Officer Indra Nooyi, one of few women of color to ever run a large public U.S. company, said she’s never asked for a raise and once turned one down during the financial crisis. “I’ve never, ever, ever asked for a raise,” Nooyi said in an interview with the New York Times Magazine this week. “I find it cringeworthy...

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    11. Wall Street’s ESG Loans Charge Corporate America Little for Missed Goals

      Wall Street’s ESG Loans Charge Corporate America Little for Missed Goals

      (Bloomberg) -- When American Campus Communities Inc. announced the signing of a $1 billion sustainability-linked credit line in May, its executives decided to take a victory lap. For the first time, they said, the company was tying its borrowing costs to targets ranging from improved energy efficiency to workforce and boardroom diversity. The largest owner of college apartments in the U.S. even put out a press release touting its commitment to environmental, social and governance goals...

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    12. Private Equity-Backed Firms Shut Out Black Directors, Data Show

      Private Equity-Backed Firms Shut Out Black Directors, Data Show

      (Bloomberg) -- Companies that have gone public in the last two decades have had few minorities on their boards, a new report finds. Black directors have held only 49 of about 4,700 board seats created at companies backed by the top 18 private equity and venture capital firms, according to the report released Tuesday by the Board Diversity Action Alliance. The group is working to boost boardroom representation...

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    13. ISS Says Support for Starboard Nominees at Box Unwarranted

      ISS Says Support for Starboard Nominees at Box Unwarranted

      (Bloomberg) -- Activist investor Starboard Value’s effort to revamp the board of Box Inc. was dealt a blow Monday with a prominent shareholder advisory firm urging investors not to support to its director nominees. Institutional Shareholder Services Inc. said investors should support two of the three nominees put forth by the company and withhold support for incumbent lead director Dana Evan due to her longstanding presence on the board and the lingering governance concerns at the software company. The firm said investors should support the re-election of Chief Executive Officer Aaron Levie and Peter Leav in a shareholder vote slated ...

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      Mentions: Lead Director KKR ISS
    14. More U.S. Companies Tie CEO Pay to Diversity Metrics

      More U.S. Companies Tie CEO Pay to Diversity Metrics

      (Reuters) - Corporate diversity has become the most common type of sustainability metric used in setting executive pay, a new study found, as companies look to increase the share of women and minorities in their workforces. Among 61 metrics used by Fortune 100 companies to tie executive pay to environmental, social or governance factors, 14 of them, or 23%, were diversity metrics, according to Nathan Grantz, senior research analyst at compensation consultant Equilar...

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    15. Shareholders Narrowly Approve Videogame Maker Activision Blizzard CEO's $155 Million Pay

      Shareholders Narrowly Approve Videogame Maker Activision Blizzard CEO's $155 Million Pay

      (Reuters) - Shareholders approved the $155 million pay package for Activision Blizzard Inc Chief Executive Robert Kotick on Monday by a 54% margin, after the company took the rare move of delaying its vote on executive compensation by a week. The maker of popular video games including "World of Warcraft" and "Call of Duty" faced a campaign from an investor group against its CEO's payout, saying that the company had not addressed its concerns from prior years...

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    16. Starboard’s Smith Says ESG Activists Need to Deliver for Credibility

      Starboard’s Smith Says ESG Activists Need to Deliver for Credibility

      (Bloomberg) -- Activist investor Jeff Smith said Exxon Mobil Corp.’s revamped board will have to deliver the changes a tiny investor promised during its proxy fight in order for that campaign to be a watershed moment for environmental, social and governance investing. Newly formed Engine No. 1 won an upset victory over Exxon this month by winning three seats on the board of the oil and gas giant despite owning just 0.02% of its common stock...

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    17. Contract Tweak Saves CEO Culp’s $124 Million Haul at GE

      Contract Tweak Saves CEO Culp’s $124 Million Haul at GE

      (Bloomberg) -- Larry Culp needed a mega-million do-over. The pandemic was tanking General Electric Co. stock and pushing Culp’s big prize -- a $232 million equity windfall -- out of reach for the top executive. Before long, he got his do-over: GE’s directors shifted the goal line for the haul by cutting his targets in half...

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    18. Exxon Activist Wins Board Seats in Historic Climate Victory

      Exxon Activist Wins Board Seats in Historic Climate Victory

      (Bloomberg) -- Exxon Mobil Corp. CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the crude driller to diversify beyond oil and fight climate change. For Woods, who had aggressively opposed the insurgents, it was just the latest setback in a rocky 4 1/2-year tenure that has seen what was once the world’s most-valuable company shed more than $125 billion in market value...

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    19. IBM Turnabout Adds Pressure to Keep Corporate Diversity Promises

      IBM Turnabout Adds Pressure to Keep Corporate Diversity Promises

      (Bloomberg) -- The year 2021 is shaping up to set records for diversity proposals at U.S. company annual meetings.Nine out of 10 investors backed a call last month for International Business Machines Corp. to produce an annual diversity report. Five other companies, including renewable energy firm First Solar Inc. and chemical giant DuPont de Nemours Inc., saw more than 80% of shareholders backing diversity proposals...

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    20. Lufthansa’s Biggest Private Owner Sells $400 Million Stake

      Lufthansa’s Biggest Private Owner Sells $400 Million Stake

      (Bloomberg) -- Deutsche Lufthansa AG’s second-largest shareholder sold more than half its stake in the airline group, three months after the death of family patriarch Heinz Hermann Thiele. The shares fell on Friday after KB Holding GmbH sold 33 million shares at a 9.80 euros each, a 9.8% discount to their closing price a day earlier. The family’s sale comes as Lufthansa prepares to raise about 3 billion euros ($3.7 billion) in new equity to unwind some of its 9 billion-euro state bailout...

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      Mentions: Sale stake Bloomberg
    21. Rare Middle East Push for Women on Boards Runs Into Culture Wall

      Rare Middle East Push for Women on Boards Runs Into Culture Wall

      (Bloomberg) -- Getting more women on corporate boards in the United Arab Emirates was never going to be easy, and the numbers after a new rule went into effect to boost their presence bears that out. Since the country announced on March 15 that listed companies should have at least one female board member, only four of the 23 people added to such roles at firms on the UAE’s two major stock exchanges have been women, according to data compiled by Bloomberg...

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    22. Exxon Activist Gets a Boost as ISS Supports Three Nominees

      Exxon Activist Gets a Boost as ISS Supports Three Nominees

      (Bloomberg) -- An investor pushing for changes at Exxon Mobil Corp. got a boost from a prominent advisory firm, which urged shareholders to support some of the activist’s board nominees. Institutional Shareholder Services Inc. weighed in Friday on the months-long fight between Engine No. 1 and the oil and gas giant. It recommended investors vote for three of the four nominees from Engine No. 1’s slate: Gregory Goff, Kaisa Hietala, and Alexander Karsner...

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      Mentions: ISS stake Bloomberg
    1-24 of 33 1 2 »
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