Governance

Eskom CEO saga highlights massive systems failure in South Africa

South Africa has, in the past, been credited with taking on innovative corporate governance standards and integrated reporting. So it’s particularly …

South Africa

Financial Choice Act's Shareholder Resolution Threshold May Squelch Activity

By Matt Orsagh, CFA, CIPM<p>The <b>Financial Choice Act</b>, which is designed to undo a number of provisions in the Dodd-Frank Act and was passed recently by …

Corporate Governance

Dutch Court Backs Akzo Nobel in Dispute With Elliott Management -- Update

U.S. activist investor Elliott Management Corp. lost a legal battle Monday to try to remove Akzo Nobel NV's chairman, heaping pressure on PPG Industries Inc. to make a hostile bid for the rival Dutch paint and chemicals giant or abandon its monthslong takeover pursuit.<p>Earlier this month, Elliott …

AkzoNobel

David Einhorn Letter To GM Shareholders

While the share price of General Motors Company (NYSE:GM) hovers around its IPO price, what are GM and its Board of Directors (the "Board") doing to …

Stocks

This Trillion-Dollar Investors' Group Is Challenging Australia's All-Male Boardrooms - Bloomberg

All-male boards take note: your biggest investors have run out of patience.<p>The Australian Council of Superannuation Investors -- whose members have …

JPMorgan Chase & Co

The Financial Industry Is Ushering In A New Discipline Of Ownership

<i>By David Larrabee, CFA</i><p>The finance industry, long plagued by distrust among the public, has reached a tipping point, according to Stephen Davis, …

Business

Auditor merry-go-round fails to shake-up cosy market

Despite attempts to increase choice, Big Four still audit 98% of FTSE 350 companies<p>For the first time in three decades, BT is planning to switch its …

FTSE 100

BP directors prepare for succession plans

Investors in BP want directors to prepare for changes to the leadership of the UK's second biggest oil company for the first time since it was almost …

Oil

Richard Goyder's replacement at Wesfarmers will be paid $3 million less

Shareholder revolt against expanding pay packages for CEOs is starting to influence boards at blue chip companies.<p>Wesfarmers, the owner of Coles, Officeworks, Kmart, Target and Bunnings, today announced that Rob Scott will be paid less than managing director Richard Goyder when he takes over as …

Shopping shakeup? Activist investor's quest for change at Taubman looms as shareholders meet

Ownership guidelines<p>Earlier this month, Land & Buildings sued Taubman in federal court, alleging that the Taubman family's ownership of preferred …

Australian pension funds push for more female company directors

AustralianSuper begins voting against senior directors on all-male boards<p>Australia’s largest pension fund has begun voting against the re-election of …

Diversity

With increasing acrimony, Buffalo Wild Wings and activist investor head for final showdown

On a Tuesday last May, five days after Buffalo Wild Wings held its annual meeting with shareholders, a San Francisco investment firm called to say it …

Minneapolis

Boards Of Directors -- Shaping To Today's World

Tom Manning is a corporate advisor, board director, and educator. Currently, he serves on the boards of Dun & Bradstreet (Lead Director), CommScope, and Clear Media Limited. He was based in Hong Kong for 17 years, where he served as the CEO of Cerberus Asia, Capgemini Asia, and EY Global Consulting …

Leadership

Condo clash: Owners push out serial board members who didn't live in the building

Multiple board members at Five condo building to resign Friday in wake of CBC Toronto investigation<p>Residents of a luxury downtown Toronto condo have …

Toronto

CEO pay by the numbers: How big were last year's raises?

The typical big-company CEO raked in $11.5 million last year in salary, stock and other compensation, according to a study by executive data firm Equilar for The Associated Press. That's an 8.5 percent raise from a year earlier, the biggest in three years.<p>The bump reflects how well stocks have done …

Business

As C.E.O. Pay Packages Grow, Top Executives Have the President’s Ear

Pay packages for America’s top executives once again climbed in 2016 after slipping the year before.<p>Perhaps the pay surge reflects the times: Stocks are coming off a strong run. Unemployment is low. The economy is percolating.<p>And President Trump is not only promising to roll back what he calls …

Business

Big Investors Weigh Rebuking Exxon on Climate -- WSJ

Two of the world's largest asset managers are strongly considering a public rebuke to Exxon Mobil Corp. over climate change at the company's annual meeting next week, according to people familiar with the matter.<p>BlackRock Inc. and Vanguard Group are weighing a vote in favor of an investor proposal …

Climate

Activists and CEOs: BFFs? - Bloomberg Gadfly

Many international investors are in a state of despair with Europe's boss class. TCI Fund Management Ltd.'s success in its battle against French jet …

Business

Selection of Saskatchewan Health Authority's new board and CEO underway

It’s not being disclosed how many people applied for the top job at the new provincial health authority, but Keith Dewar isn’t one of them.<p>Hired as …

Canadian News

Creating an advisory board

Leading public companies are increasingly creating advisory boards to augment the firepower of their statutory boards.<p>Unilever created a Sustainable …

Digital Transformation

In the Board Room: Staying In the Loop And Out Of the Weeds

Recently, a nonprofit CEO requested that I help him keep his incoming board chair "in the loop but out of the weeds."<p><b>A catchy slogan, but what does</b> …

IiAS warns of Rs 650 crore loss for Raymond in selling JK House in Mumbai

Raymond Ltd's move to sell its premium property 'JK House' in Mumbai to its promoters and their extended family will result in loss of over Rs 650 …

India

Executive leadership is as stiff as a board

Absolutely. And in the same way that CEOs need to work collaboratively with other board members so boards - particularly, but not just the executives …

Leadership

Building a More Diverse Board with Intention

According to a report from Boardsource, a third of 1,300 nonprofit CEOs surveyed say that their boards are 100 percent white. They also report that …

Diversity

Connecticut pension fund urges Tesla shareholders to change board

Tesla Inc. TSLA, +2.62% shareholder Connecticut Retirement Plans and Trust Funds urged other shareholders to declassify the car maker's board to "better meet challenges the company now faces as a maturing public company," it said in a Securities and Exchange Commission filing Thursday. The state …

Pension Funds

Tesla: Why a Board Battle Looms

With Tesla's (TSLA) shares soaring to new heights, it's easy to forget that its purchase of SolarCity, a company controlled by Tesla's Elon Musk, had …

Autos

Arconic shareholders elect three Elliott nominees to board

Arconic (ARNC -3.3%) says shareholders elected three of Elliott Management's nominees to its board, based on a preliminary vote count following the …

Succession Planning Needs To Be Your No. 1 Priority

Succession planning has always been defined as the number one responsibility of board members followed closely by strategic plan development. KPMG conducted a global survey of 2,300 directors that showed that only 14% of directors had a detailed board succession plan , with no dramatic differences …

Succession Planning

Create a Finance Committee at Every Public Company

Almost all boards of U.S. public companies now have three committees that meet immediately before every board meeting and report to the full board — …

Finance

Serena Williams joins board of SurveyMonkey

SAN FRANCISCO -- Tennis star Serena Williams has 39 Grand Slam titles, four Olympic medals, major endorsement deals and her own line of clothing and …

Silicon Valley