1. 169-192 of 192 « 1 2 3 4 5 6 7 8
    1. Peace breaks out at Abercrombie & Fitch

      Peace breaks out at Abercrombie & Fitch

      Abercrombie & Fitch ( ANF ) has nominated four new independent directors as part of a peace deal with activist investor Engaged Capital, which had been agitating for an overhaul. Four current directors will make way for the new members. CEO Mike Jeffries looks set to keep his job even though Engaged had wanted to replace him amid falling sales. Jeffries has been reshuffling Abercrombie's ...

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      Mentions: CEO Shareholders
    2. Citigroup owners approve executive pay package

      Citigroup owners approve executive pay package

      At the firm's annual meeting in St. Louis, Citigroup ( C +1.3% ) shareholders have approved CEO Mike Corbat's $17.6M pay package for last year. Owners also approved the bank's stock incentive plan and re-elected the current board. There had been some rumblings over executive pay following the bank's CCAR failure, but it wasn't enough to derail the package. It was two years ago at this time that ...

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      Mentions: CEO Shareholders
    3. Violin Memory strikes deal with activist; investors unimpressed

      Violin Memory strikes deal with activist; investors unimpressed

      Violin ( VMEM ) has struck a deal with activist investor Clinton Group under which Violin will add former NetApp strategy chief Vic Mahadevan to its board, and Clinton will back Violin's director slate. Clinton has been calling on Violin to sell itself, and has even gone as far as to publicly declare the flash storage hardware vendor has received informal interest from five companies. The firm ...

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      Mentions: Investors CEO
    4. Coca-Cola defends its compensation plan

      Coca-Cola defends its compensation plan

      Coca-Cola ( KO ) says Wintergreen Advisers misunderstands how the company's executive compensation plan works. The comp is tied to specific business goals and isn't a systematic transer of wealth from shareholders to management, says the beverage giant. Wintergreen took some hard shots at Coca-Cola in a letter sent to the board and the Oracle of Omaha...

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    5. Microsoft names activist investor to board; declares dividend

      Microsoft names activist investor to board; declares dividend

      Microsoft ( MSFT ) has named Mason Morfit, the President of activist investor ValueAct Capital, to its board and audit committee as part of a deal that was agreed in the summer. Microsoft offered Morfit the board seat in August after ValueAct Capital bought a $2B holding in the company in April and began to agitate for change. Microsoft also declared a quarterly dividend of $0.28 a share. The ...

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    6. CommonWealth fires back at dissident shareholders

      CommonWealth fires back at dissident shareholders

      "Related/Corvex's business plan for CommonWealth REIT ( CWH ) is reckless and not credible given [their] track record of destroying shareholder value in publicly owned real estate companies," says CommonWealth management , responding to the consent solicitation . Adam Portnoy: "Related/Corvex's recent actions only reinforce that they are using the veil of corporate governance to pursue control ...

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    7. WSJ: Barrick Gold investor wants director Anthony Munk out

      WSJ: Barrick Gold investor wants director Anthony Munk out

      A large Barrick Gold ( ABX ) investor has written to the company expressing concern about the recent resignation of two directors, and the investor is calling for Anthony Munk, a director and the son of departing chairman Peter Munk, to step down, WSJ reports. ABX had tried to quell unhappiness about its corporate governance when it announced a series of board changes last month , but apparently ...

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    8. Two directors resign from Barrick's board

      Two directors resign from Barrick's board

      Barrick Gold ( ABX ) says former American Airlines CEO Donald Carty and Signalta Capital president Robert Franklin have resigned from its board . The two directors had said months ago they would resign if ABX fixed corporate governance issues shareholders had highlighted; earlier this month , ABX made several boardroom changes, including a departure date for founder and co-chairman Peter Munk ...

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    9. Morgan Stanley Should Mind Its Corporate Governance Better

      Morgan Stanley Should Mind Its Corporate Governance Better

      In a recent article, one of my fellow Alpha contributors wrote about Morgan Stanley's corporate governance: The lack of governance was probably more evident in the recent $65 million worth legal suit filed against a former hedge-fund manager and onetime managing director, Joseph "Chip" Skowron III, at FrontPoint Partners, which used to be owned by Morgan Stanley (MS), who is accused of an insider-trading scheme costing the firm tens of millions of dollars. Are you looking at the monetary aspect

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    10. SandRidge Energy Has Had Poor Corporate Governance For Years

      SandRidge Energy Has Had Poor Corporate Governance For Years

      A shareholder in SandRidge Energy, Inc. (SD) said the Oklahoma oil and natural gas company should find new management, making complaints about various issues including "appalling" corporate governance. We have warned for more than a year about SandRidge's high risk in this area, and its financial statements continue to reflect problematic accounting and board composition, among other things. TPG-Axon, which holds a 4.5% stake in SandRidge, sent a letter on Nov. 8 to the board outlining offenses

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    11. Icahn's Corporate Governance Could Be Criticized, Too

      Icahn's Corporate Governance Could Be Criticized, Too

      Carl C. Icahn recently criticized Oshkosh Corp. (OSK) for continuing to "overpromise and under deliver." After the activist investor asked Oshkosh shareholders to sell their holdings to him or replace the truck maker's board with directors that his team nominated, the existing board recommended rejecting his offer on Friday on grounds that it undervalues Oshkosh. As it happens, Mr. Icahn's own company could improve its corporate governance, too. Icahn Enterprises L.P. (IEP) is a diversified hold

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    12. Clearwire's Q3 Earnings: Addressing Spectrum Monetization, Governance, And

      The past several weeks have been some of the most dramatic ever for investors in Clearwire (CLWR). The constant back and forth of rumors and headlines surrounding the Sprint (S)-SoftBank deal and how it affects Clearwire have caused shares of Clearwire to see record volatility over the past several weeks. (click to enlarge) Investors have eagerly anticipated Clearwire's Q3 2012 earnings, posted after the markets closed on October 25, for they would give them a chance to hear management's take on

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    13. Best Buy: Corporate Governance And Financial Risk Heightens

      (BBY) new CEO Hubert Joly faces an uphill battle in turning around the consumer electronics retailer. The company's risk of a blow-up due to accounting, governance or financial problems has worsened to dangerous levels. To be sure, the team is fighting for a comeback. For example, it is preparing to sell a new tablet this holiday season called the Insignia Flex for around $250, going head to head against technology giants such as Apple Inc. (AAPL) and Amazon.com, Inc. (AMZN). In an effort to

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    14. Felix Salmon Smackdown Watch, Corporate-Governance Edition

      Felix Salmon Smackdown Watch, Corporate-Governance Edition

      October 18, 2012 by: Felix Salmon | includes: GS, HPQ Justin Fox is not a fan of the video where I take the Goldman Sachs (GS) board to task. Yes, he says, the Goldman board is packed with insiders and fails just about every rule of corporate governance — but so what? There’s little or no evidence that the modern criteria for good corporate governance actually lead to better-governed corporations. What’s generally seen as the most impo

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    15. New Directors Strengthen Navistar's Corporate Governance, But Issues Remain

      Caving under pressure from the activist investors Carl Icahn and Mark H. Rachesky, Navistar International Corp. (NAV) recently strengthened the supervision of its senior managers by replacing three board members. But the truck and engine maker still has more work to do on its corporate governance. The former CEO Daniel C. Ustian and his team struggled against headwinds in recent years ranging from the economic crisis to production failures. As Navistar's stock price sank in the past year, Mr. Ic

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    16. Avon's Corporate Governance Strengthens

      Avon Products, Inc. (AVP)'s embattled former CEO Andrea Jung said she'll step down as board chairman on December 31. The beauty company has taken several such moves toward restoring its credibility in recent months, and now has stronger corporate governance. While serving as both chairman and CEO, Ms. Jung came under fire for problems ranging from Avon's underperforming stock price to its overseas bribery investigation, which we had discussed here. In December 2011 Avon announced Ms. Jung's loss

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    17. Olympus' Efforts To Improve Corporate Governance Leave Room For More

      Olympus' Efforts To Improve Corporate Governance Leave Room For More

      Olympus Corp. ( .PK) and three of its former executives pleaded guilty this week to charges related to a $1.7 billion accounting cover-up, the media reported. During the year since the Japanese equipment maker's former CEO Michael C. Woodford raised questions about its deal-making, Olympus has made some improvements to its corporate governance, but continues to show serious weaknesses that interfere with its ability to balance the powers of its managers. To be sure, it's positive that the former

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    18. BP's Corporate Governance Beats Rosneft's

      The media is buzzing about the possible sale of a stake in the Russian government-owned oil company OAO Rosneft to BP p.l.c. (BP). The U.K. oil giant might appoint a Russian director to its board, some reported in recent days. If the two companies do integrate, BP goes into the deal with better supervision of its senior management than Rosneft. BP has already had some headaches from its joint venture TNK-BP. Last spring, for example, Russia's natural resources and ecology minister Yuri Trutnev s

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    19. DST Improves Corporate Governance, But Issues Linger

      News hit that DST Systems, Inc. (DST)'s CEO Thomas A. McDonnell is retiring, and investors bought shares in the information processing and software services company. While DST has taken steps in recent months that could resolve some red flags about its corporate governance, McDonnell's successor, Stephen C. Hooley, is a company insider who will inherit ongoing issues. DST said Hooley is CEO effective September 12. He had worked at State Street Corp. for eleven years before January 2004, when he

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    20. Facebook's Board Reveals 2 Major Flaws

      Chief Operating Officer Sheryl Sandberg was recently appointed the first female director on Facebook's (FB) board. Her appointment may assuage concerns about corporate governance at Facebook, but unfortunately it is of little consequence. Instead, Facebook must embrace leadership with experience successfully monetizing user groups. Investors should not pay current high valuations for a shift to a better revenue-generating regime that has yet to happen. Corporate Governance and Healthy Boards Boa

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