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Microsoft’s Lead Director Says CEO Satya Nadella ‘Earned the Right’ to be Chairman, Too
Read Full ArticleMicrosoft CEO Satya Nadella “earned the right” to also lead the technology giant’s board of directors, the company’s former chairman, John Thompson, told CNBC on Wednesday...
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Ursula Burns and Darren Walker Tackle Diversity in Corporate America
Read Full ArticleThe lack of diversity in corporate America is not a new issue, but it is an issue that has taken on increasing importance in recent years...
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Here’s What Investors Can Expect From Bill Ackman’s Universal Music SPAC Deal
Read Full ArticlePershing Square Tontine Holdings is a particular goal acquisition firm (“SPAC”). The agency doesn’t have important operations. It intends to impact a merger, capital inventory trade, asset acquisition, inventory buy, reorganization, or related enterprise mixture with a number of companies...
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Tech Companies Made Big Pledges to Fight Racism Last Year — Here's How They're Doing So Far
Read Full ArticleTech companies made big pledges to fight racism last year — here's how they're doing so far - Last June, tech companies made countless commitments to promote racial justice in the wake of the police murder of George Floyd. - One year after those initial statements, many tech companies say they have met some of their initial goals while promising to expand their commitments to diversity and inclusion efforts and racial justice causes...
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Judge in Fortnite Case Holds Tim Cook's Feet to the Fire Over App Store Competition
Read Full ArticleJudge Yvonne Gonzalez Rogers, who is presiding over the Epic v. Apple antitrust trial, saved her best for last. As Apple CEO Tim Cook prepared to leave the stand on Friday afternoon on the 15th and final day of courtroom testimony, Gonzalez Rogers took nearly 10 minutes — the longest singular line of questioning she's put to a witness in the trial — to grill Cook about both the business model of the App Store and the very nature of its relationship with developers...
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An Activist Investor May Urge Duke Energy to ‘Get Back to Basics’
Read Full ArticleDuke operates as an energy company in the United States that is the product of a merger with Cinergy in 2006; a merger with Progress Energy in 2012; and the acquisition of Piedmont Natural Gas in 2016. It operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables...
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AT&T Shareholders Vote Against Approving Executive Compensation
Read Full ArticleAT&T shareholders on Friday voted against a measure to approve executive compensation, according to preliminary voting results from the company's annual meeting...
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Exxon Board Member Ubben Ups Stake, Company Invests in Carbon Capture
Read Full ArticleActivist investor and newly appointed Exxon board member Jeff Ubben is building his stake in the company on the belief that the oil giant will be integral to the energy transition...
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Toshiba CEO Resigns, Shares Surge on Bidding War Expectations
Read Full ArticleCEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate's shares surged on reports that more suitors were planning offers...
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Asian Companies are Catching up with ESG, Sustainable Practices, says SGX
Read Full ArticleSINGAPORE — Companies in Asia are catching up with their Western peers in adopting sustainability and ethical practices, said Loh Boon Chye, chief executive of the Singapore Exchange...
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McDonald's CEO Chris Kempczinski Made More than $10.8 Million in 2020
Read Full ArticleMcDonald's CEO Chris Kempczinski received more than $10.8 million in compensation last year, despite the company missing performance targets, according to a company filing. In April, the fast-food giant said that its executives would take pay cuts as the coronavirus pandemic battered the restaurant industry...
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Supreme Court to Decide Whether Goldman Sachs Shareholders Can Bring Suit in Major Fraud Case
Read Full ArticleThe Supreme Court is set to hear arguments from Goldman Sachs in a long-running case that could have major implications for shareholders seeking to bring securities-fraud lawsuits. Arguments are scheduled to begin at 10 a.m. ET Monday and will be streamed live as the court continues to meet remotely as a precaution against Covid-19...
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Nike Sets Diversity Goals for 2025, Ties Executive Comp Back to Them
Read Full ArticleNike has laid out a five-year roadmap to creating a more diverse and inclusive workforce, the company announced Thursday, as corporate America is increasingly being held accountable for their values and the actions that come with them...
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Activist Investor Group Cuts its Kohl’s Board Slate to 5 Directors From 9
Read Full ArticleThe group of activist investors looking to seize control of Kohl’s board has reduced the number of directors that it plans to nominate, to five from nine...
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Activist Spotlight: Behind the Campaign Forcing Changes at Kohl's
Read Full ArticleMacellum is not an activist investor but is willing to take activist measures when they believe change is necessary. They have significant experience with consumer retail companies, and that experience is evident in their detailed letter to the board...
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Exxon CEO Darren Woods Promises a Strong Dividend Despite 2020 Losses
Read Full ArticleExxon CEO Darren Woods told CNBC on Thursday the oil giant is committed to its dividend even though the company lost more than $20 billion in 2020 and as activist investors push for change...
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Chipotle Will Link Executive Compensation to Environmental and Diversity Goals
Read Full ArticleChipotle Mexican Grill said Thursday that executive compensation will now be linked to hitting targets tied to the company’s environmental and diversity goals...
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Biden SEC Pick Gensler Grilled Over Bitcoin, GameStop Mania and Board Diversity
Read Full Article“I think diversity in boards and diversity in senior leadership ... benefits decision-making and it’s something that I’m committed to at the SEC and the leadership there,” he said. “It’s a positive step forward in the leadership of the SEC that, if confirmed, I’m going to take on...
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Jeff Immelt on Executive Pay: The 'good ones are probably worth more'
Read Full ArticleWhen Jeff Immelt was pushed out as CEO of General Electric in 2017, he didn't leave empty handed. If fact, he earned over $200 million in retirement pay on top of 35 years of big salaries plus bonuses, which amounted to $33 million in 2015 and $21.3 million in 2016, for instance. (Immelt also reportedly used two corporate jets when he would travel, according to a Wall Street Journal report...
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Delta Hands Out Bonuses to Managers Whose Pay Was Cut in the Pandemic
Read Full ArticleDelta Air Lines, which received billions of dollars in federal aid last year, is paying managers bonuses ranging from a few thousand dollars to more than $100,000 to help make up for pay cuts at the start of the Covid pandemic last year...
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HP CEO Enrique Lores on Corporate Accountability: ‘We Behave According to our Values’
Read Full ArticleHP Inc. CEO Enrique Lores is no stranger to speaking out when it comes to ESG — environmental, social and corporate governance — addressing unrest as well as the rapid push to innovate due in part to the coronavirus pandemic...
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Merck’s Kenneth Frazier to Retire as CEO Effective June 30
Read Full ArticleMerck’s outspoken chairman and CEO, Ken Frazier, is retiring after almost 30 years at the drugmaker, the company announced Thursday...
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Jeff Bezos to Step Down as Amazon CEO, Andy Jassy to Take Over in Q3
Read Full ArticleAmazon CEO Jeff Bezos will step down later this year, turning over the helm to the company’s top cloud executive Andy Jassy, the company announced Tuesday. Bezos will transition to executive chairman of Amazon’s board...
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