This year, $2 billion is missing at a German fintech company, $300 million of sales has been found to be fabricated at a Chinese coffee chain and $5 billion in undisclosed debt has been uncovered at two related companies listed in the U.K. Together, the incidents cost shareholders of the companies roughly $30 billion...
Private companies are flooding to special-purpose acquisition companies, or SPACs, to bypass the traditional IPO process and gain a public listing. WSJ explains why some critics say investing in these so-called blank-check companies isn’t worth the risk...
Corporate boards could soon be on the hunt for fresh technology expertise as digital business models pursued in the wake of the coronavirus pandemic reshape business strategy. Companies over the past several months have rushed ahead with investments in AI-enabled analysis of business data, automation and new forms of digital collaboration. The moves, aimed at business continuity, are finding permanence as processes change across industries...
It’s been a bad few years for investors in shale companies, but a pretty good few years for shale company CEOs. The leaders of U.S. shale companies received some of the largest executive pay increases in corporate America, even as their shareholders lost billions of dollars, a Wall Street Journal analysis has found. The median pay for chief...
Boeing Co.’s board is accused of failing to properly oversee management’s responses to two fatal 737 MAX crashes and the plane’s safety problems in a shareholders’ lawsuit that cites internal company documents...
The U.S. Securities and Exchange Commission has approved amendments to the rules governing monetary awards made to whistleblowers who voluntarily report potential wrongdoing. Commissioners voted 3-2 Wednesday to approve the amendments , with Democratic members Allison Herren Lee and Caroline Crenshaw opposing...
Former McDonald’s Corp. Chief Executive Steve Easterbrook said in a court filing Friday that he complied with all the terms of his separation agreement with the fast-food company and it shouldn’t be allowed to claw back his multimillion-dollar severance package...
Greg Kelly, the former Nissan Motor Co. executive charged with helping hide Carlos Ghosn’s compensation as Nissan chief, pleaded not guilty Tuesday at the opening of his trial in Tokyo...
A new group of U.S. companies is pledging to add a Black director to their boards within the next year in a bid to diversify and help accelerate more inclusion in corporate America...
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them...
Finance chiefs are changing jobs again after a slowdown in exits and recruitment in the spring, as the pandemic is forcing them to rethink their business models and adding to an already high workload. Three big public companies this week said their CFO would exit . General Motors Co.’s Dhivya Suryadevara is joining Stripe Inc., while Kelly Kramer, the finance chief of Cisco Systems Inc., plans to retire...
The former chief executive of Hertz Global Holdings Inc. agreed to pay nearly $2.2 million to settle claims that he pressured subordinates to “find money” to meet financial targets, causing employees to violate accounting rules, according to regulators. Mark Frissora neither admitted nor denied the Securities and Exchange Commission’s allegations but will refund Hertz nearly $2 million in incentive compensation and pay a $200,000 penalty to the government...
McDonald’s Corp.’s board is coming under scrutiny from some investors and corporate-governance groups for failing to fully uncover the extent of former Chief Executive Officer Steve Easterbrook’s inappropriate relationships with employees when concerns first emerged last year. The fast-food giant Monday sued Mr. Easterbrook, accusing him of lying to investigators to cover up relationships with employees to protect his multimillion-dollar severance package. The suit, a rare airing of corporate dirty laundry, follows the board’s...
By putting American workers through months of turmoil, the Covid-19 crisis has heightened expectations that large companies will serve the interests of all “stakeholders,” not only shareholders. The Business Roundtable raised such expectations last summer by issuing a statement on corporate purpose, in which the CEOs of more than 180 major companies committed to “deliver value to all stakeholders.”...
Bed Bath & Beyond Inc. said it would permanently close roughly 200 stores, a bet that the home-goods chain can ride out the coronavirus pandemic by shrinking its bricks-and-mortar footprint...
Hertz Global Holdings Inc. paid more than $16 million in retention bonuses to senior managers, including its new chief executive, just days before it filed for bankruptcy Friday night...
Many companies have cut executive compensation and made equity awards amid economic turmoil Amid volatile markets and economic contraction, companies have adjusted executive compensation, with salary cuts for top leaders often accompanied by new equity grants. As companies furloughed or laid off workers and cut other costs, many chief executives have had their base salaries cut for 2020 by anywhere from 50% to 100%...
In bid to turn around, the company is changing its board, cutting salaries and slashing capital budget Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive the steepest crude-price plunge in decades...
Occidental Petroleum Corp. is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, according to an internal email reviewed by The Wall Street Journal...
Chief executives of large U.S. companies rode a more than decadelong bull market to a string of record pay days...
Activist investor to get two board seats, approval of third, independent director Occidental Petroleum Corp. is nearing a truce with Carl Icahn that would conclude one of the highest-profile corporate clashes of the past year and usher the activist investor into the embattled oil producer’s board room as it seeks to recover from a series of setbacks...
GameStop Corp. is facing a renewed threat from a group of shareholders upset with the videogame retailer’s performance...
Smaller companies lag behind the country’s biggest corporations in bringing more women onto their boards. In California, though, that gap has been closing since the state began requiring public-company boards to include female directors, according to new data...
LONDON—Barclays PLC Chief Executive Jes Staley came under renewed pressure Monday after an activist investor called on the bank to withdraw its support for its American CEO because of his professional relationship with the late financier and convicted sex offender Jeffrey Epstein...