(Bloomberg) — Warren Buffett-backed carmaker BYD Co., Nike-rival ANTA Sports Products Ltd. and Nasdaq-listed retailer JD.com are all emblematic of the global heft of China’s companies. The Chinese giants have another thing in common: None of them have women on their boards...
TOKYO (AP) — The chief lawyer for Greg Kelly, an American on trial in Japan on charges of under-reporting Nissan former Chairman Carlos Ghosn’s compensation, says his client was merely trying to prevent Ghosn from going to a rival automaker. “Greg has no motive at all to commit such a crime,” Yoichi Kitamura said Friday at his Tokyo office. At the time, Kelly, then a Nissan executive vice president, was making good money, had a successful career and moreover, was a lawyer...
By Chibuike Oguh (Reuters) - Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last year despite the impact of the COVID-19 pandemic, regulatory filings showed. The majority of the windfall stemmed from Schwarzman's 19.3% stake in Blackstone...
By Paresh Dave (Reuters) - Alphabet Inc's Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist. Timnit Gebru, co-leader of Google's ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign...
Women hold more positions of leadership than ever before. In 2019, Finland's Sanna Marin was sworn in as prime minister as part of an all-women coalition. This year, Kamala Harris became the first female, first black and first Asian-American US vice-president...
By Jessi(Reuters) - Months before the irrational trading in GameStop Corp, there was Hertz Global Holdings Inc. Operating under bankruptcy protection last spring once the COVID-19 pandemic wiped out its business, the car-rental giant confronted an extraordinary situation: Its stock price was skyrocketing for no apparent reason...
PARIS (Reuters) - Emmanuel Faber, the chief executive and chairman of French food group Danone, told the weekly Journal du Dimanche that he did not hold a "dogmatic" view as to whether the role should be split in two. Faber is facing calls from activist investor Bluebell Capital Partners to step down after it took a stake in the company late last year. Danone shares fell 27% in 2020 and the company had been touted as a prime target for an activist fund...
(Reuters) - The number of major European companies with high participation of women in leadership positions has doubled over the past year, but there was less progress on top jobs, a study by a EU-sponsored non-profit organization showed on Thursday...
Michael S. Barr, a former U.S. Treasury Department official and onetime member of Ripple’s board of advisers, is likely to become the next Comptroller of the Currency, the Wall Street Journal reported Wednesday. If named and confirmed by the U.S. Senate, Barr will succeed Brian Brooks, the former Coinbase executive who served as Acting Comptroller for the last half of 2020. Barr is currently a dean at the University of Michigan Ford School of Public Policy...
(Reuters) - Citigroup Inc’s outgoing chief executive came under fire on Tuesday for mistakes that have led to regulatory penalties, with analysts questioning his pay and why he is not leaving immediately in a conference call to discuss quarterly results...
(Reuters) - EBay Inc on Monday named Walmart executive Jamie Iannone as its top boss, handing over the reins to an outsider as the e-commerce firm deals with pressure from activist investor Starboard Value to shake up its management...
(Reuters) - A Hong Kong-based activist investor in Toshiba Corp <6502.T> has asked the Japanese conglomerate to sell its entire stake in Kioxia Holdings when the flash memory chip firm is listed in an IPO that could raise up to $32 billion, according to a letter reviewed by Reuters...
More CEOs from America’s largest publicly traded airlines sent an urgent letter Saturday to Congressional leaders promising to stop stock buybacks and paying dividends in exchange for a multi-billion dollar coronavirus bailout...
NEW YORK (AP) — Devin Wenig, the CEO of eBay, stepped down over differences with the company's board of directors...
Is it the pent-up energy coming off the extended holiday weekend, or the several intriguing news items coming down the pike after market close? Either way, trading is quite lively in the after-hours scene tonight. Here are two big reasons why. Turkey gazing at the camera. More Image source: Getty Images. Starboard boxes itself in Noted activist hedge fund Starboard Value is now a major shareholder in tech stock Box (NYSE: BOX)...
When billionaire activist investor Carl Icahn makes a move, investors usually listen. The activist investor and head of Icahn Enterprises (NASDAQ: IEP) has had a sterling track record over the past 20 years, and is known for making purchases of beaten-down stocks, then shaking up management teams to unlock value. Icahn doesn't always "go activist," however. For instance, Icahn made a lot of money in Netflix when he invested after its Qwikster debacle, without making any management changes...
Engaged Capital has developed quite a reputation as an effective activist investor. After successfully advocating for the sale of companies including Jamba Juice and Outerwall, the activist set its sights on steakhouse operator Del Frisco's (NASDAQ: DFRG) . In December 2018, Engaged Capital published a letter to Del Frisco's board of directors in which it disclosed a 9.9% ownership stake and advocated for the company to sell itself. The activist got what it wanted...
FirstGroup has announced it will break up its business, sell Greyhound, and possibly withdraw from UK rail, in the face of pressure from major shareholders . The Aberdeen-based transport group said it would spin off its profitable UK First Bus operations, as it announced surging revenues but still made a £97m pretax loss...
Activist investor Bill Ackman, who runs Pershing Square Holdings (LSE: PSH) , has a large stake in Lowe's (NYSE: LOW) . Along with fellow activist investor D.E. Shaw, Ackman shook up company management last year when he installed ex- J.C. Penney CEO Marvin Ellison at the helm, with the goal of improving operating metrics against better-performing rival Home Depot . Ellison took over at the home-improvement giant last July, but apparently, things are off to a rockier-than-anticipated start...
It's the great media paradox: while the amount of content expands, the number of traditional media companies keeps shrinking. CBS is expected to continue talks in the coming weeks with Lions Gate about buying Starz, the premium entertainment network LionsGate owns, according to people familiar with the matter...
LONDON (Reuters) - Greenpeace activists blocked the entrance to BP's London headquarters on Monday, demanding one of the world's biggest energy companies ends all new oil and gas exploration or goes out of business...
REUTERS/Denis Balibouse More By Michael Shields ZURICH (Reuters) - Nestle SA has entered exclusive negotiations to sell its skin health business to a consortium led by EQT Partners and Abu Dhabi's ADIA in a deal worth 10.2 billion Swiss francs ($10.1 billion), it said on Thursday...
LONDON (Reuters) - Standard Chartered could face a shareholder rebellion on Wednesday over the bank's pay plans for senior executives, the latest in a series of potential revolts over bosses pension payouts at top British firms...
(Reuters) - SAP CEO Bill McDermott on Tuesday welcomed a $1.3 billion (993 million pounds) investment by activist investor Elliott, saying the U.S. hedge fund group was aligned with his goal of expanding margins by driving top-line growth. "They have been a fantastic investor. I am very proud they have chosen SAP," McDermott told reporters on Tuesday at Sapphire Now, SAP's annual U.S. user conference in Orlando, Florida...