(Reuters) - HSBC's three executive director board members have agreed a reduction in their pension allowance from 30 to 10 percent of base salary, following increasing scrutiny from investors and other stakeholders on overall executive pay...
(Reuters) - Chevron Corp will put a focus on human rights in Myanmar under an agreement with an investor group that had urged it to pay more attention to violence in the Asian nation where the U.S. oil company has operations. Chevron will undertake steps including social investment reviews in ...
(Bloomberg Opinion) -- If Bed Bath & Beyond Inc. hopes to keep shareholders from supporting an activist investor campaign to toss its entire board, its fourth-quarter earnings and outlook didn’t do enough to help its cause...
(Reuters) - One of Bayer's largest shareholders tore into the company's management on Wednesday for underestimating the legal risks of its takeover of Monsanto, setting the stage for a fiery annual general meeting after a 30 percent plunge in the shares. Bayer has seen about 30 billion ...
Activist hedge fund manager Bill Ackman, who runs Pershing Square Holdings (LSE: PSH) , is a well-known figure and no stranger to controversy, as he often invests with an eye toward shaking up management teams in either a friendly or not-so-friendly manner...
This proxy season, big mutual fund companies and investors alike will get a chance to make their voices heard by corporate executives on key issues...
(Bloomberg) -- California Governor Gavin Newsom urged bankrupt power giant PG&E Corp. to reconsider its picks for a board overhaul, saying the company is about to appoint hedge fund financiers and others who have little or no experience in California or the utility business...
A committee tasked with revamping corporate governance at Nissan Motor Co is expected to recommend on Wednesday a bigger role for external directors in overseeing the Japanese automaker following Carlos Ghosn's arrest and ouster as chairman...
(Reuters) - For months, activist investor William Ackman promised to rebuild his record. Now he has some numbers to prove it...
(Bloomberg) -- There’s one more tribunal in which Bayer AG’s efforts to defend its Roundup weedkiller are floundering: the court of public opinion. Bayer says science shows that the herbicide, which the German company gained in its $63 billion acquisition of Monsanto Co., is safe. Now that a second U.S. jury has linked the product to cancer, the uphill battle Chief Executive Officer Werner Baumann is fighting just got steeper...
Bristol-Myers Squibb (NYSE: BMY) shocked everybody when it announced its $74 billion acquisition of Celgene (NASDAQ: CELG) earlier this year. Not everyone was happy, with the merger drawing the ire of some of the biggest institutional investors. Is this deal as bad as they fear?...
Sloan’s base salary remained flat at $2.4 million, he earned $14 million stock awards and the board awarded him a $2 million bonus based on the bank’s financial performance and other factors, according to a company filing...
We've seen this playbook before. Billionaire investor buys a large stake in a company, pushes for a sale, and cashes out after the sale is complete. Carl Icahn is playing the activist roll to a "T" with Caesars Entertainment (NASDAQ: CZR) , acquiring a 15.5% stake in the company and demanding a seat at the boardroom table...
(Bloomberg) -- The largest pension fund in the U.S. still isn’t happy with Walt Disney Co.’s executive pay. The California Public Employees’ Retirement System is opposing the company’s compensation plan at Thursday’s annual meeting and is voting against two board members who sit on Disney’s compensation committee, according to the pension fund’s website...
(Bloomberg) -- Buybacks faced fresh political furor Wednesday with Democratic Senator Chris Van Hollen threatening to propose legislation that could make it more difficult for executives to sell shares after corporations announce they are repurchasing stock...
(Reuters) - Appaloosa LP said on Thursday investor John Chevedden was backing the hedge fund's proposal to split the roles of chairman and chief executive officer at Botox-maker Allergan Plc...
BOSTON (Reuters) - Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already made executives and directors receptive to the goal...
REUTERS/Kim Hong-Ji SEOUL (Reuters) - Elliott Management Corp on Wednesday urged shareholders of a Hyundai Motor Group firm to vote for its proposal for higher dividends and new board members, a day after the South Korean conglomerate rejected demands by the U.S. activist investor...
(Reuters) - Paul Elliott Singer, the hedge fund manager behind activist investor Elliott, has taken a 6.1 percent stake in Dutch trust and business administration company Intertrust, according to a filing published by the Dutch Authority for Financial Markets (AFM)...
Shares of Papa John's (NASDAQ: PZZA) continue to rise in the aftermath of activist investor Starboard Value injecting $200 million into the pizzeria and having the hedge fund's founder Jeffrey Smith take on the role of chairman of the board...
(Reuters) - French spirits group Pernod Ricard's CEO Alexandre Ricard on Tuesday described talks with activist investor Elliott as "confidential, but cordial and constructive". He said the talks centered around corporate governance and margin improvement...
(Bloomberg) -- PG&E Corp., which filed for bankruptcy last month, announced a boardroom shakeup that would bring back at most half of the current board members. No more than five of the utility owner’s 10 current board members will stand for re-election at its upcoming shareholders meeting, according to a statement Monday. The company wants mostly independent directors, and the new board will have 11 of them, it said.,..
(Reuters) - The California State Teachers' Retirement System (CalSTRS), the second largest U.S. pension fund said on Monday it made a $250 million investment with Impactive Capital, a new activist hedge fund that expects to start trading next month...
Chevron Corp plans to set greenhouse gas emissions targets and tie executive compensation and rank-and-file bonuses to the reductions, the oil major said in its latest climate report released on Thursday...