Its namesake service isn’t slated for North American launch until April 6, 2020, but Quibi, the short-form media startup founded late last year by Hollywood kingpin Jeffrey Katzenberg and led by Silicon Valley skipper Meg Whitman, is well on its way to building a star-studded team...
Facebook CEO Mark Zuckerberg will remain as chairman after a shareholder vote to curtail his power failed. The proposal, voted down at Facebook’s annual shareholder meeting on Thursday by an undisclosed margin, required that Facebook appoint an independent chair to replace Zuckerberg...
As Boeing takes steps to get its embattled 737 MAX aircraft up and flying again, investigations and lawsuits continue to pile up in the aftermath of October’s Lion Air Flight 610 crash and March’s Ethiopian Airlines Flight 302 accident, taking a total of 346 lives. The crisis has caused frustrated stakeholders and corporate governance experts to question both the makeup of the board, and how they’re responding— placing a collection of people who are used to operating in inner sanctums under intense scrutiny and pressure...
Women will make up more than half of GM’s board next month after two male directors retire, leaving six female directors, including chair Mary Barra, to five men...
Facebook Inc. is nearing a settlement with U.S. regulators that would elevate responsibility for privacy oversight to the company’s board of directors, according to a person familiar with the matter...
The eternal battle for control at public companies between executives and shareholders is one of the most important narratives in business. And on one front, shareholders have won decisively: They’ve sharply reduced the use of “staggered” boards of directors, which can help protect business leaders from the pressures of reform-minded investors...
If you asked Disney CEO Robert Iger how 2018 went at work, he’d probably say great, given the company’s success its businesses, hot reception for the new streaming service, and Monday’s five-year high stock price. Plus, there is the $65.6 million in compensation he received over the year, according to the company’s current proxy statement. The number meant a CEO-to-median employee pay ratio of 1,424 to 1...
As the echo of last month’s Apple TV Plus product unveiling continued to loom on Thursday, Disney’s reveal of details surrounding its upcoming Disney Plus streaming service reminded many Apple watchers of an important fact: The iPhone-maker now has a direct competitor sitting on its board of directors...
As the firm behind New York’s Fearless Girl statue, State Street Corporation has gotten an estimated $13 million in free publicity and even seen success pushing companies to add women to their boards of directors. But as a shareholder, the firm’s fund specifically devoted to gender diversity has often opposed initiatives in favor of that mission...
The CEO of Korean Air, Cho Yang-ho, has been removed from its board after a string of scandals involving both him and his family. Cho has been indicted on a number of charges ranging from embezzlement to tax evasion, The Wall Street Journal reports...
PwC tracks what it classifies as “younger board directors”—those age 50 and under—and a new report on the cohort came out yesterday. An unmistakable takeaway is that women are making up a larger share of this constituency—37% in 2018 versus 31% the year prior. Of those independent “younger directors” who joined boards for the first time in 2018, more than half—61%—were female. Those figures reflect the uptick in female directors in the S&P 500 overall—24%—an increase from 18% five years earlier...
The nation’s third-largest pizza company has given up its quest to find a new owner . Papa Johns wasn’t satisfied with offers from private equity companies, reports Reuters . As a result, it has opted to look for an investor instead. The news surprised investors, who quickly punished the company. Papa John’s stock fell more than 8% Friday in mid-morning trading. Papa Johns has been struggling for awhile, at one time blaming the NFL’s National Anthem controversy for its problems...
The chief executive officer and chairman of consulting and outsourcing giant Accenture, Pierre Nanterme, is stepping down due to health reasons, the company announced in a statement released on Friday. Nanterme was diagnosed with colon cancer in 2016. He took the helm at Accenture in 2011...
Women hold just over 10% of board seats at Fortune 500 companies, according to Catalyst Inc. Chief executives, gathered at Fortune ’s Most Powerful Women Next Gen conference in Laguna Niguel, Calif., on Tuesday spoke to a room of women interested in joining a board—and what that entails. The ...
Eddie Lampert, the chairman and former CEO of Sears (who some blame for the retailer’s current financial woes), wants to buy the embattled chain for $4.6 billion.
ESL Investments, Lampert’s hedge fund, said it had submitted the bid to the bankruptcy court in a statement Thursday...
A group called European Women on Boards last week released its first-ever gender diversity index and came to this conclusion: France, far and away, has by its measure the highest share of women on company boards at 44.2%. The index assessed gender representation at the 200 largest European listed companies in nine nations—Belgium, the Czech Republic, Finland, France, Germany, Italy, the Netherlands, Spain, and the U.K—in an effort to identify best practices...
It seemed like a good idea at the time. Dollar Tree’s (dltr) $9 billion acquisition of Family Dollar in 2015 after a knock-down-drag-out fight with Dollar General (dg) has turned into a big weight on its results as fixing the damaged chain is proving to be harder than expected...
On Oct. 1 , when General Electric announced it had fired John Flannery, its CEO of just 14 months, one of the few people not at all shocked by the news was Nelson Peltz, the legendary activist investor. Flannery’s abrupt dismissal surprised even Wall Street analysts who obsessively follow the tarnished conglomerate...
J. Crew Group Inc. CEO James Brett is stepping down after reaching an agreement with the clothing store chain’s board of directors, the company announced.
His tenure as chief executive was brief. He replaced Mickey Drexler last summer amid declining sales and onerous debt payments...
Elon Musk has founded an interesting variety of companies since dropping out of the physics PhD program at Stanford. In the 1990s, he was among the first to see how the Internet could be used to distribute useful information (at Zip2) and pay for online sales (at PayPal). By the turn of the century, his vision was expanding and he founded SpaceX and Tesla, seeing a future with commercial spaceflights and electric cars. It’s been a long and not always smooth journey for those two companies...
Tesla’s third-largest shareholder believes in what Elon Musk is doing at the company. And it’s willing to put up more cash if the car maker’s co-founder asks for it...
It’s not the robots that are coming for American jobs. It’s not the immigrants. It’s not evil offshoring CEOs either. It’s the shareholders...
As we have in the past, Fortune collaborated with our partner Korn Ferry Hay Group on this survey of corporate reputations. We began with a universe of about 1,500 candidates: the 1,000 largest U.S. companies ranked by revenue, along with non-U.S. companies in Fortune’s Global 500 database that have revenues of $10 billion or more...
The Conference Board’s CEO pay study—the most comprehensive annual review of pay practices—comes out Thursday. Fortune ‘s email newsletter CEO Daily got an exclusive early look...