The activist firm affiliated with union pension funds pointed to the director's leave as emblematic of poor leadership and weak corporate governance...
The criticisms are a setback for the group’s heir apparent -- Vice Chairman Euisun Chung -- as he prepares for Korea’s biggest proxy fight since Samsung Group narrowly defeated a controversial merger of two units nearly three years ago...
With a half-billion-dollar pay package for 2017, Evan Spiegel claims the crown of an elite group of corporate leaders. Spiegel, 27, got the $504.5 million package when Snap Inc., the firm he co-founded in college, went public last year, making him the highest-paid executive of a publicly traded U.S. company, according to the Bloomberg Pay Index...
... SA to take control of Telecom Italia SpA's board after shareholders supported the U.S. activist investor's call to improve its corporate governance and push for asset sales, ... Shareholder advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co. also recommended Elliott's board slate...
Wells Fargo & Co. ’s leaders deserve fatter paychecks after a tough year, according to investors...
London Stock Exchange Group Plc’s directors should be prepared to confront “behavioral and performance issues” among management, according to a review that absolved its board of blame in the acrimonious departure of former Chief Executive Officer Xavier Rolet. Rolet abruptly left LSE in November amid a battle between the 217-year-old bourse’s board and activist investor TCI Fund Management , which wanted Rolet’s contract extended and sought to oust Chairman Donald Brydon instead...
Emboldened by last year’s successful campaigns against excessive executive pay, some of the world’s biggest investors are shifting their focus to women -- or the lack thereof -- on corporate boards...
Bloomberg | Apr 19, 2018 Procter & Gamble Co. agreed to buy Merck KGaA’s consumer-health business for 3.4 billion euros (US$4.2 billion) to bolster growth, betting that vitamins and decongestants can hasten its comeback...
For most of the past decade, Cheryl Miller has spent her days trying to put more cars on America’s roads—first as the treasurer and now as the chief financial officer of AutoNation Inc. , the largest auto retailer in the U.S. And for the past year she’s been working on behalf of another of the country’s biggest companies, Tyson Foods Inc. , as one of the newest members of its board of directors...
The acrimonious fight over the future of Xerox Corp. looks set to worsen after two of its largest shareholders, activist investor Carl Icahn and Darwin Deason, released a report alleging widespread corporate governance failures in the way the company negotiated its $6.1 billion sale to Fujifilm Holdings Corp...
The benefits of running a large public company go well beyond paychecks and stock awards. Take Mark Zuckerberg , who crisscrossed the U.S. last year to attend a rodeo in Fort Worth, Texas, speak with Muslim students in Dearborn, Michigan, and fish salmon in Alaska, all part of a personal challenge to meet and talk with regular people...
A 9.1 percent pay increase for new William Hill Plc Chief Executive Officer Philip Bowcock threatens to spark a shareholder rebellion at the U.K. bookmaking group. Institutional Shareholder Services Inc. , the advisory group that normally commands as much as 25 percent of shareholder support for its resolutions ahead of company annual general meetings, has advised William Hill investors to vote against the company’s remuneration report at its coming annual meeting...
DowDuPont Inc. finally landed buyers for its country club, several years after activist investor Nelson Peltz blasted the golf and tennis playground as a symbol of corporate excess. The club became a flash point for Peltz’s Trian Fund Management in its failed 2015 proxy fight for seats on the board of DuPont, which subsequently merged with Dow Chemical...
Activist investors have the power to get more women on corporate boards, should they choose to use it. Elliott Management Corp. called this week for operational changes and a board overhaul at data-management software company Commvault Systems Inc...
Akzo Nobel Sells Chemicals Unit to Carlyle for $12.5 Billion By Dutch company to focus on paints, coatings after sale Chemicals business also attracted bids from Apollo, Advent Akzo Nobel NV is selling its specialty chemicals unit to U.S. private equity firm Carlyle Group for 10.1 billion euros ($12.5 billion) in a deal set to transform the Dutch company into a supplier of paints and coatings...
Compensation in all its excesses for top corporate executives is a hardy perennial for astonishment, outrage and fruitless demands for reform. I have said more than once that many, indeed, most , chief executive officers at publicly traded U.S. companies are wildly overpaid . But some recent research adds some nuance that deserves a closer look...
Real estate is still largely a man’s world, but companies with women on the board are the ones rewarding investors. Wells Fargo & Co. analysts Jeffrey Donnelly and Dori Kesten examined the gender makeup of boards of 165 U.S. real estate investment trusts from 2006 to 2017...
Anyone who has attended the shareholder meeting of a Fortune 500 company will have felt a twinge of agreement at JPMorgan Chase & Co. CEO Jamie Dimon's characterization that they are a waste of time. The romantic notion that these meetings are a democratic exercise of shareholder rights bears little relation to reality, where important votes tend to be sewn up in advance through proxy firms and big investors...
What’s it cost to tempt the wrath of Carl Icahn ? For SandRidge Energy Inc., the price tag is $8.2 million and counting. In a fourth-quarter earnings report Wednesday, the oil and gas explorer said it paid a $3.7 million termination fee after canceling the acquisition of Bonanza Creek Energy Inc. in December under pressure from Icahn and other top investors...
Honeywell International Inc. disclosed that Chief Executive Officer Darius Adamczyk’s $16.5 million pay package for last year amounts to about 333 times more than what the company’s median employee earned, making it the first S&P 100 company to disclose the ratio. The Morris Plains, New Jersey-based firm reported the ratio Friday in a regulatory filing . Thousands of publicly traded U.S. businesses will make their inaugural disclosures this year under a mandate of the 2010 Dodd-Frank Act...
Tesco Plc faces growing investor pressure to sweeten its 3.9 billion pound ($5.5 billion) offer for wholesaler Booker Group Plc ahead of a shareholder vote in less than two weeks. Alpine Associates Management Inc. opposes Tesco’s offer on the existing terms and believes Booker shareholders should vote against the deal, the investor said Friday by email. Alpine has an economic interest of 2.4 percent in Booker...
Nelson Peltz, Who Mocked Company Name, Exits Mondelez Board By Trian co-founder Peter May to occupy his slot on company board Billionaire to become P&G director after 2017 proxy battle Nelson Peltz Photographer: Patrick T. Fallon/Bloomberg Nelson Peltz, the billionaire activist investor known for pushing companies to make deals, is leaving the board of Mondelez International Inc. as he prepares to become a director at Procter & Gamble Co. Peltz, 75, is being replaced by fellow Trian Fund Management partner Peter May, also 75. Debra Crew, 47, a U.S. military intelligence officer and former chief executive officer of ...
L’Oreal CEO Says Cosmetics Maker Ready to Buy Nestle's Stake By French company repeats that it has funds for such a deal Activist investor Dan Loeb has called for Nestle to sell L’Oreal is ready to buy Nestle’s stake in the company, CEO Jean-Paul Agon says. L’Oreal SA Chief Executive Officer Jean-Paul Agon said the French cosmetics company is ready to buy Nestle SA ’s 23 percent stake as some investors pressure the Swiss food maker to offload it...
