Activist investor William Ackman, with about $2 billion in losses on Valeant Parmaceuticals, is struggling to salvage his big bet on the drug maker...
Goldman Sachs added its name to the list of large U.S. companies making it easier for shareholders to propose their own candidates for corporate boards...
Activist investor Carl Icahn said he has accumulated a “large stake” in AIG and called for the insurer to split into three public companies...
The Securities and Exchange Commission has quietly pulled back on its use of SEC administrative law judges in contested cases, a practice that brought it criticism and legal challenges...
Instead of launching ugly boardroom battles, activist investors ValueAct Capital and Relational Investors typically work with company management—and with better results to show for it...
A large new investment from Trian Fund Management suggests better days are finally here for GE shareholders...
Wendy’s Co. said Chief Executive Emil Brolick plans to retire in May and named Todd Penegor, chief financial officer and head of international operations, as his successor.
Ethan Allen said long-standing board members Frank Wisner and Kristin Gamble will step down and named Tara I. Stacom as a director as the furniture company faces pressure by an activist investor...
The SEC charged five Florida residents, including two lawyers and an accountant, with insider trading ahead of Gilead’s 2011 acquisition of Pharmasset...
The pain from slumping commodity prices is being mirrored in the pay packages of BHP Billiton’s top ranks...
Ronald O. Perelman, who recently became chairman of the board of trustees of Carnegie Hall, told board members he will leave his position next month amid an ongoing clash among leaders of the institution...
The chairman of Brazilian state-controlled oil company Petróleo Brasileiro, Murilo Ferreira, has taken a leave of absence until Nov. 30, the company said, without giving additional information...
Macy’s plans to close 35 to 40 stores, or about 5% of its existing fleet, as it reacts to changing shopper habits and fends off an activist investor who has pressured it to unlock value from its real estate...
Sysco said Nelson Peltz and Josh Frank, both of Trian Fund Management, will join its board, a move that comes less than week after the activist investor disclosed a 7% stake in the food distributor...
Even an activist investor might struggle to rev Rolls-Royce’s engine. Shares in the U.K. aircraft engine manufacturer have been lifted by news in July that activist fund ValueAct Capital Management had taken a 5.4% stake in the company. The stock has been pummeled by a series of profit warnings over the past 18 months. The hope is that ValueAct...
Criminal and civil authorities are investigating whether the former chairman of Dean Foods Co. leaked inside information about a corporate spinoff to a professional gambler who in turn is suspected of tipping off golfer Phil Mickelson, according to people familiar with the probe. The scrutiny of Dean Foods ex-Chairman Thomas Davis brings a high-profile investigation first reported by The Wall Street Journal last year into the boardroom of a major company...
Large investors quietly back campaigns to force change at U.S. companies When a low-profile activist investor gained a board seat at Microsoft Corp. two years ago, corporate boards around the country were stunned. How had a shareholder with less than 1% of the software giant’s stock forced its way into the boardroom? It turns out that ValueAct Capital Management LP had some serious muscle behind the scenes...
Move will mark culmination of yearslong debate and pressure on SEC over Dodd-Frank mandate WASHINGTON—Regulators are set to approve a contentious new rule requiring companies to disclose the pay gap between rank-and-file employees and the chief executive, marking the culmination of years of debate and pressure on the Securities and Exchange Commission over a mandate from the 2010 Dodd-Frank law. The SEC is slated to vote on a final version of the rule at a meeting Wednesday...
Georgeson Inc., a proxy-solicitation firm, is being investigated by federal prosecutors as part of the government’s increased focus on the illegal trading of confidential company information...
A.G. Lafley’s return to Procter & Gamble didn’t revive its fortunes as hoped It was the sort of advertising for Procter & Gamble that money can’t buy—and that it likely didn’t want. Back in January, New England Patriots quarterback Tom Brady denied knowledge of football tampering in front of an ad for P&G’s Gillette “Flexball” razor, turning the brand into an ironic Twitter meme. Further revelations this week have left his supporters feeling a lot like the fans of a tarnished corporate...
Looming management changes come amid tighter scrutiny of corporate governance in Japan TOKYO—Toshiba Corp. President Hisao Tanaka and several other executives are likely to step down soon over an accounting scandal involving profit inflated by more than $1 billion, according to people familiar with the situation. The matter is unfolding amid heightened scrutiny of corporate behavior in Japan, where Prime Minister Shinzo Abe wants to attract more foreign investors...
Generic-drug maker Mylan NV moved into new headquarters in December 2013 after buying vacant land in an office park near Pittsburgh and erecting a five-story building for about 700 employees...
Cheil Industries’ offer appears to target hedge fund Elliott’s allegations of weak minority shareholder protection at Samsung C&T SEOUL-—Cheil Industries Inc., the Samsung conglomerate’s de facto holding company, said Tuesday it would boost dividends and establish a corporate governance committee -- but only after a contentious merger with Samsung’s construction and trading company is approved by shareholders...
Big shareholders for years have grumbled about the rise in executive pay. Now, activist investors are taking up the compensation cause, focusing less on how much corporate leaders earn and more on whether they deserve what they get. Case in point: Shutterfly Inc., where an activist hedge fund is seeking three board seats at the online photo retailer at a shareholder vote set for Friday. The founder of Marathon Partners Equity...