U.S. companies are coming under intense pressure to diversify their executive ranks, with shareholders more than doubling their formal demands for audits and increased scrutiny on hiring and promotions...
(Reuters) - U.S. corporations are fighting harder this year to keep activist shareholder proposals off the ballot at their annual meetings, partly because of a proliferation of investor demands for racial justice reforms. The trend shows the high stakes for the acting head of the U.S. Securities and Exchange Commission, who in a pair of speeches this week outlined reviews of the shareholder proposal process and voting disclosures...
(Reuters) - Wall Street may be facing an uncomfortable four years after President-elect Joe Biden's team confirmed on Monday it planned to nominate two consumer champions to lead top financial agencies, signaling a tougher stance on the industry than many had anticipated. Gary Gensler will serve as chair of the Securities and Exchange Commission (SEC) and Federal Trade Commission member Rohit Chopra will head the Consumer Financial Protection Bureau (CFPB)...
TOKYO (Reuters) - Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday...
(Reuters) - Black employees make up just 4% of Tesla Inc's American leadership roles and 10% of its total workforce in the country, the electric carmaker has disclosed in its first U.S. diversity report. Women comprise 17% of the company's U.S. leadership roles - directors and vice presidents - and 21% of the overall workforce, according to the report. The figures for Asian, Black and Hispanic people combined are 33% and 60%...
The COVID-19 pandemic has brought substantial layoffs to Walt Disney Co.'s massive theme park operations and other units. The Burbank-based company said Tuesday that it would lay off 28,000 domestic employees at its parks, experiences and products division, which includes Disneyland Resort and Disney California Adventure Park in Anaheim and Walt Disney World in Orlando, Fla...
Fluor Corporation (NYSE: FLR) announced today that the company named Teri P. McClure as a director effective October 1, 2020...
DaVita Inc. (NYSE: DVA) announced today that its Board of Directors appointed a new independent director, Ms. Paula A. Price , to join the Board, effective September 1, 2020...
CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading provider of financial, insurance and advisory services, today announced the appointment of Haag Sherman as independent director to the Company's Board of Directors, effective August 6, 2020...
Tesla ‘s stock may have hit an all-time high , trading at $1,113 as of Wednesday morning, while the company’s market cap is up to over $200 billion, making it the most valuable car company in the world. However, one firm that advises shareholders is calling for the firm to remove CEO Elon Musk from the company’s board, due to the potential exposure to lawsuits...
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation...
Apple ( AAPL ) investors on Wednesday rejected several shareholder proposals, including one that would have linked executive pay to environmental sustainability and another that would have required the tech giant to provide annual reports on its policies on freedom of expression. The tech giant’s board — which includes former vice president Al Gore, BlackRock co-founder Susan Wagner, and Apple CEO Tim Cook — had recommended a vote against both proposals...
Former Nissan chief Carlos Ghosn said Tuesday he had fled to Lebanon to escape injustice in Japan, where he was on bail awaiting trial on financial misconduct charges. The auto tycoon's abrupt departure was the latest twist in a rollercoaster journey that saw him fall from boardroom to detention centre and it sparked questions over an embarrassing security lapse in Japan...
Elon Musk testified in a defamation lawsuit that "people think I have a lot of cash. I actually don't," despite an estimated $26.5 billion net worth...
New York (AFP) - Computer and printer maker HP on Sunday reiterated its rejection of Xerox's $33 billion takeover bid, saying the sum "significantly undervalues" the company. A tie-up would unite two firms with storied histories: Xerox was founded in 1906 and became a household name with its copy machine...
(Bloomberg) -- Wall Street’s main regulator is pursuing a crackdown on shareholder campaigns that corporate chieftains say are a nuisance. Few top executives would cheer the move louder than Jamie Dimon. Dimon has been a frequent target of social activists who want companies to take an aggressive stand on issues such as climate change and human rights abuses...
(Reuters) - ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation. Spiesshofer's abrupt exit follows the launch of the biggest overhaul in ABB's 31-year history to reposition the company more toward digital industries and agreeing to activist shareholder demands to sell its power grids business...
DETROIT – Ford CEO Jim Hackett received total compensation of $17.8 million in 2018, up from $16.7 million in 2017, according to finance documents released by the company . The Dearborn, Michigan-based carmaker reported Hackett's pay was 276 times more than the median compensation for all U.S.-based Ford employees.
SAN FRANCISCO -- Amazon.com has named its first black director after facing growing pressure to diversify the all-white board overseeing one of the world's most powerful and valuable companies. Rosalind Brewer, chief operating officer and board director of Starbucks, is one of corporate America's most prominent women and black women executives...
Three of Ambac Financial Group Inc's top ten shareholders are calling on its new CEO Nader Tavakoli to step down, according to people familiar with the matter. One of the reasons they give is that he is slow to settle $4 billion in insurance claims in which at least two of them have an interest, the sources said. The policy claims relate to complex financial instruments, including secured ...
(Reuters) - Privately held outdoors retailer Bass Pro Shops is exploring an offer for Cabela's Inc , the U.S. hunting and fishing store chain targeted by activist investor Elliott Management, people familiar with the matter said...
By Ross Kerber BOSTON (Reuters) - Ben Carson, frontrunner in the struggle to become Republican presidential candidate, said on Wednesday that his support for gay rights initiatives when he was a director at major companies does not clash with his opposition to gay marriage. Carson supported various initiatives at both companies, such as barring discrimination based on gender identity, providing ...
The pharmacy at the center of suspicions over Valeant Pharmaceuticals International Inc's business practices began as a small pilot project two years ago and quickly grew to account for 7 percent of the drugmaker's revenue. Valeant disclosed on Monday details of its relationship with Pennsylvania-based Philidor Rx Services, defending the pharmacy against allegations of illegal activity while ...
