WASHINGTON (Reuters) – The U.S. securities regulator on Wednesday voted to finalize new restrictions on firms that advise investors on how they should vote in corporate elections, following a years-long battle between corporate lobbyists and governance activists over the proposed rules. The Securities and Exchange Commission did, however, walk back the most contentious part ...
NEW YORK (Reuters) – Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile. The Oklahoma City-based company, co-founded by late wildcatter and outspoken natural gas proponent Aubrey McClendon ...
Reuters) – Emerson Electric Co told investors on Thursday it would not pursue a break-up following a review it launched last year into whether to separate its industrial automation operations from its air-conditioning business. Breaking up Emerson was one of the demands made by hedge fund D.E. Shaw & Co LP ...
BOSTON (Reuters) – Women gained seats on U.S. corporate boards at a steady pace in recent years, but their share of top board leadership roles is still stuck at a low level, according to a new study...
LONDON (Reuters) – Activist investor Edward Bramson, who lost his battle for a seat on the board of Barclays in May, is still pushing to overhaul the British lender, a report from his investment vehicle Sherborne Investors shows...
(Reuters) – Chemicals giant Bayer, under pressure from activist shareholders, said on Wednesday it has hired an external lawyer to advise its supervisory board and has set up a committee to help resolve a multi-billion dollar glyphosate litigation issue. Bayer has seen its share price tumble in the wake of its $63 billion acquisition of Monsanto, which ...
NEW YORK (Reuters) – American International Group Inc said shareholders approved a $21 million pay package for Chief Executive Officer Brian Duperreault by only a narrow margin during the company’s annual meeting on Tuesday...
(Reuters) – Shareholder advisory firm Institutional Shareholder Services Inc (ISS) said on Friday that Dell Technologies Inc should renegotiate an offer to acquire a tracking stock tied to is virtualization software subsidiary VMWare Inc. Several hedge funds, including Elliott Management Corp and Canyon Capital Advisors LLC, as well as activist investor Carl ...
HELSINKI (Reuters) –“Angry Birds” maker Rovio proposed cutting the pay of its chairman and vice chairman following a drop in the Finnish mobile game studio’s market value and a media stir over boardroom compensation...
BOSTON (Reuters) – Billionaire investor William Ackman’s hedge fund sold a stake in Automatic Data Processing, the firm’s biggest holding, as the value of the investment grew over the last months, a regulatory filing released on Tuesday shows...
BOSTON (Reuters) – Activist investor William Ackman on Wednesday said he believes directors and investors in Chipotle Mexican Grill Inc. are disappointed in the chain’s recent performance, on a day its shares hit their lowest since 2013...
(Reuters) – Deutsche Boerse said on Thursday that it was capping executive pay for board members at 9.5 million euros ($11.3 million) a year effective from 2017...
(Reuters) – Ferrara Candy Co, the owner of candies such as Lemonheads and Now & Later chews, is preparing to participate in the auction for Swiss food group Nestle SA’s U.S. candy business, people familiar with the matter said on Friday...
BOSTON (Reuters) – MSCI Inc has proposed leaving shares of Snap Inc and other companies including Eaton Vance Corp out of stock indexes because they lack voting rights, a sign of the rising skepticism facing corporate structures that boost the power of insiders....
SYDNEY/MELBOURNE (Reuters) – Mining giant BHP on Friday named well regarded Australian packaging executive Ken MacKenzie as its next chairman, handing him the challenge of guiding the company amid calls for change...
SYDNEY (Reuters) – Activist shareholder Elliott Management called on BHP on Wednesday to “upgrade” its board of directors as the mining giant prepares to select a new chairman this week...
DALLAS (Reuters) – Exxon Mobil Corp’s chief executive said on Wednesday the company would reconsider how it communicates the risks its faces from climate change after shareholders approved a measure calling for increased transparency. The non-binding proposal passed with 62 percent of ballots cast in ...
LAS VEGAS (Reuters) – Bill Ackman said on Thursday he is poised to go on a great investment run after a humiliating bet forced his hedge fund firm to return to basics...
NEW YORK/BOSTON (Reuters) – Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb’s Third Point and Daniel Och’s Och-Ziff Capital Management , owned stakes in Snap Inc , parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The filings provide the first definitive snapshot on who bought Snap shares when it went public ...
May 6, 2017 FRANKFURT (Reuters) – Leading shareholder advisors have called on SAP investors to oppose the supervisory board of Europe’s largest technology company in a dispute over management pay...
REUTERS/Lucas Jackson March 27, 2017 By James Saft (Reuters) – Some day, perhaps soon, the populist revolt will spread to another group badly served in recent decades: shareholders...
A U.S. flag flutters in the wind above a Volkswagen dealership in Carlsbad, California, U.S. May 2, 2016. REUTERS/Mike Blake/File Photo March 10, 2017 By Nick Carey and David Shepardson DETROIT/WASHINGTON (Reuters) – Volkswagen AG pleaded guilty on Friday to three felony counts as part of a $4.3 billion settlement reached with the Justice Department in January over the automaker’s massive diesel emissions scandal. VW general counsel Manfred Doess made the plea on the company’s behalf after he ...
WASHINGTON (Reuters) – Billionaire investor Bill Ackman’s hedge fund paid $75,000 to settle civil “pay-to-play” charges with the Securities and Exchange Commission after running afoul of campaign contribution and money management rules. Pershing Square Capital Management, which invests roughly $11.6 billion for a number of state pension funds and wealthy ...
Ross Kerber BOSTON (Reuters) – U.S. public pension funds normally prefer a backseat role in overseeing the future of companies where they have billions of dollars invested...