Tag #Corporate Governance

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forbes.com

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May 9, 22:11

CISOs Poised for Boardroom Breakthrough Amidst Rising Cyber Risk

CrowdStrike CEO George Kurtz predicts that within the next decade, every public company will need a CISO on its board due to escalating cyber threats and regulatory pressures; currently, 72% of boards seek cybersecurity expertise, yet only 29% possess it.

CISOs Poised for Boardroom Breakthrough Amidst Rising Cyber Risk

CrowdStrike CEO George Kurtz predicts that within the next decade, every public company will need a CISO on its board due to escalating cyber threats and regulatory pressures; currently, 72% of boards seek cybersecurity expertise, yet only 29% possess it.

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How has the evolution of board composition influenced the current demand for CISOs on boards?

Kurtz's remarks connect the evolution of board composition—from insider-dominated structures to the inclusion of financial expertise post-Enron—to the emerging need for cybersecurity leadership. He argues that escalating cyber risks are transforming cybersecurity from a compliance issue to a core governance concern, mirroring the shift that occurred with financial oversight after the 2002 Sarbanes-Oxley Act. This parallels the demand for financial expertise on boards following corporate scandals.

elmundo.es

🌐 75% Global Worthiness

May 6, 04:09

Criteria CEO Replacement Highlights Potential Political Influence

Criteria, the investment arm of the "la Caixa" Foundation, recently replaced its CEO, raising questions about the role of political considerations in high-level appointments; the new CEO reportedly has different political leanings from his predecessor, prompting a pre-notification to the Spanish gov...

Criteria CEO Replacement Highlights Potential Political Influence

Criteria, the investment arm of the "la Caixa" Foundation, recently replaced its CEO, raising questions about the role of political considerations in high-level appointments; the new CEO reportedly has different political leanings from his predecessor, prompting a pre-notification to the Spanish gov...

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How do the reported political leanings of the replaced and new CEOs impact the understanding of the decision-making process within Criteria?

The CEO change at Criteria highlights the complex interplay between business expertise and other factors in top-level appointments. While both executives were reportedly highly capable, the transition may have been influenced by political considerations, as evidenced by the new CEO's reported political leanings and the prior notification given to the government.

theglobeandmail.com

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May 5, 16:13

Sunoco's \$9.1 Billion Takeover Bid for Parkland Corp. Approved by Board

Sunoco LP offered \$9.1 billion to acquire Parkland Corp., a Canadian fuel distributor, with Parkland's board unanimously endorsing the deal, which includes \$19.80 cash and 0.295 SUNCorp unit per share, amidst an activist investor campaign and strained US-Canada relations.

Sunoco's \$9.1 Billion Takeover Bid for Parkland Corp. Approved by Board

Sunoco LP offered \$9.1 billion to acquire Parkland Corp., a Canadian fuel distributor, with Parkland's board unanimously endorsing the deal, which includes \$19.80 cash and 0.295 SUNCorp unit per share, amidst an activist investor campaign and strained US-Canada relations.

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How does the activist investor campaign by Simpson Oil and Engine Capital influence the Sunoco-Parkland merger?

This acquisition follows a previous unsuccessful bid by Sunoco in 2023. Sunoco projects a 10 percent boost in distributable cash flow per unit and \$250 million in cost savings within three years. The deal comes amidst an activist campaign by Simpson Oil and Engine Capital, seeking to replace Parkland's board.

liberation.fr

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May 1, 04:13

CEO Pay Soars 50% Since 2019, Exceeding Employee Salary Growth by 56 Times

Oxfam's May 1st report reveals that within an hour, top CEOs will earn as much as their employees earn in a year, with a 50% increase in CEO pay since 2019 compared to a meager 0.9% increase in employee salaries, highlighting a global systemic issue.

CEO Pay Soars 50% Since 2019, Exceeding Employee Salary Growth by 56 Times

Oxfam's May 1st report reveals that within an hour, top CEOs will earn as much as their employees earn in a year, with a 50% increase in CEO pay since 2019 compared to a meager 0.9% increase in employee salaries, highlighting a global systemic issue.

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Reduced Inequality

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What are the potential long-term consequences of this widening CEO-employee pay gap on societal stability and economic growth?

This systemic issue highlights persistent inequalities. Women CEOs represent only 5.7% of the sample, and female employees earn 16.7% less than their male counterparts. In France, the pay ratio between CAC 40 executives and employees reached 94 in 2023, up from 74 in 2014.

abcnews.go.com

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May 1, 22:14

Kohl's Terminates CEO for Undisclosed Conflicts of Interest

Kohl's fired CEO Ashley Buchanan for undisclosed conflicts of interest involving vendor transactions, resulting in his forfeiture of equity awards and a $2.5 million reimbursement; the retailer is searching for a new CEO.

Kohl's Terminates CEO for Undisclosed Conflicts of Interest

Kohl's fired CEO Ashley Buchanan for undisclosed conflicts of interest involving vendor transactions, resulting in his forfeiture of equity awards and a $2.5 million reimbursement; the retailer is searching for a new CEO.

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Responsible Consumption and Production

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What specific actions by Kohl's CEO Ashley Buchanan led to his immediate termination, and what are the direct financial consequences for him?

Kohl's terminated its CEO, Ashley Buchanan, after an internal investigation revealed undisclosed conflicts of interest involving vendor transactions. Buchanan directed Kohl's to engage with a vendor he had a personal relationship with, resulting in unusually favorable terms for the vendor and a multimillion-dollar consulting agreement, all without proper disclosure. He will forfeit all equity awards and reimburse $2.5 million.

dw.com

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Apr 30, 19:21

German Gender Quota Laws Boost Female Corporate Leadership

Germany's 2015 Executive Boards Act significantly increased the number of women in corporate leadership; women now hold 37.5% of supervisory board positions in the private sector and 38.9% in the public sector, up from 19.9% and 24.1% respectively ten years ago.

German Gender Quota Laws Boost Female Corporate Leadership

Germany's 2015 Executive Boards Act significantly increased the number of women in corporate leadership; women now hold 37.5% of supervisory board positions in the private sector and 38.9% in the public sector, up from 19.9% and 24.1% respectively ten years ago.

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Gender Equality

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What is the impact of Germany's Executive Boards Act on the representation of women in corporate leadership?

The number of women in supervisory and administrative boards of major German corporations has reached a record high, largely due to the Executive Boards Act of May 1, 2015. Women now hold 37.5% of supervisory board positions, up from 19.9% a decade ago, while the figure in the public sector is even higher, at 38.9%.

theguardian.com

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May 6, 22:10

John Lewis Chairman's £1.3m Pay Increase Amidst Cost Cuts

John Lewis Partnership chairman Jason Tarry's pay will exceed £1.3 million this year, a substantial increase from his predecessor's compensation and 53 times higher than the average non-management worker's pay, despite a 7.4% pay rise for hourly workers and cost-cutting measures.

John Lewis Chairman's £1.3m Pay Increase Amidst Cost Cuts

John Lewis Partnership chairman Jason Tarry's pay will exceed £1.3 million this year, a substantial increase from his predecessor's compensation and 53 times higher than the average non-management worker's pay, despite a 7.4% pay rise for hourly workers and cost-cutting measures.

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What impact has the John Lewis Partnership's recent restructuring, including workforce reduction and benefit changes, had on employee morale and compensation?

Tarry's substantial pay rise comes amidst a backdrop of increased hourly pay for John Lewis workers (7.4%, to £11.55/hour), though still below competitors like Marks & Spencer. The company also reduced its workforce by approximately 4,000 and skipped employee bonuses for the fourth time in five years, despite increased profits.

theglobeandmail.com

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May 5, 16:13

Sunoco's $9.1 Billion Takeover Bid for Parkland Corp. Approved

Sunoco LP's friendly $9.1 billion takeover bid for Parkland Corp., including debt, offering $44 per share (cash and SUNCorp units) has been unanimously recommended by Parkland's board, aiming to finalize by June 24, pending regulatory approval amid current US-Canada trade tensions.

Sunoco's $9.1 Billion Takeover Bid for Parkland Corp. Approved

Sunoco LP's friendly $9.1 billion takeover bid for Parkland Corp., including debt, offering $44 per share (cash and SUNCorp units) has been unanimously recommended by Parkland's board, aiming to finalize by June 24, pending regulatory approval amid current US-Canada trade tensions.

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How does the activist campaign by Simpson Oil and Engine Capital influence Sunoco's takeover strategy and the final agreement?

The Sunoco-Parkland merger signifies a significant shift in the Canadian fuel distribution landscape, driven by Parkland's boardroom battle with its largest shareholder, Simpson Oil. Sunoco's offer resolves this conflict, benefiting from Parkland's extensive network of gas stations and refinery operations, while also enhancing Sunoco's market position and financial performance. The acquisition's success hinges on regulatory approval, especially considering strained US-Canada relations.

cnn.com

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May 2, 13:18

Shareholders Reject Anti-DEI Proposals, Underscoring Support for Diversity Initiatives

Shareholders at major companies like Costco, Apple, and Goldman Sachs overwhelmingly rejected proposals to eliminate or audit their DEI programs, demonstrating investor confidence in the business value of DEI and pushing back against activist shareholder agendas.

Shareholders Reject Anti-DEI Proposals, Underscoring Support for Diversity Initiatives

Shareholders at major companies like Costco, Apple, and Goldman Sachs overwhelmingly rejected proposals to eliminate or audit their DEI programs, demonstrating investor confidence in the business value of DEI and pushing back against activist shareholder agendas.

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Reduced Inequality

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What is the significance of the overwhelming rejection of anti-DEI shareholder proposals at major US corporations?

Shareholder votes at major US companies overwhelmingly rejected proposals to curtail Diversity, Equity, and Inclusion (DEI) programs. This indicates that investors believe DEI is beneficial for business, prioritizing company management's decisions over activist shareholder agendas. The rejections, exceeding 98% in some cases, demonstrate strong support for maintaining DEI initiatives.

zeit.de

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May 1, 07:15

BASF to Hold Fully Virtual 2025 Annual General Meeting

BASF, Germany's largest employer, will hold its 2025 annual general meeting (AGM) entirely online on May 2nd, 2025, marking a shift from in-person events and aiming to test the effectiveness of the virtual format, while also drawing on experience from other DAX companies.

BASF to Hold Fully Virtual 2025 Annual General Meeting

BASF, Germany's largest employer, will hold its 2025 annual general meeting (AGM) entirely online on May 2nd, 2025, marking a shift from in-person events and aiming to test the effectiveness of the virtual format, while also drawing on experience from other DAX companies.

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What are the immediate implications of BASF holding its 2025 AGM entirely virtually, and how does it impact shareholder participation and accessibility?

BASF, Germany's largest employer, will hold its 2025 annual general meeting (AGM) entirely online. This follows two years of in-person events and complies with new legal requirements for virtual AGMs that came into effect in July 2022. The company aims to assess the effectiveness of this virtual format, drawing on the positive experiences of other DAX companies.

cincodias.elpais.com

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Apr 30, 07:19

Criteria Caixa CEO Ángel Simón Dismissed Amidst Growth and Internal Conflict

Ángel Simón, Criteria Caixa's CEO, was unexpectedly dismissed on Tuesday after 15 months due to a reported loss of confidence from chairman Isidro Fainé, despite achieving significant growth in Criteria's portfolio value to €33.4 billion in 2024. Francisco Reynés, president of Naturgy, will become C...

Criteria Caixa CEO Ángel Simón Dismissed Amidst Growth and Internal Conflict

Ángel Simón, Criteria Caixa's CEO, was unexpectedly dismissed on Tuesday after 15 months due to a reported loss of confidence from chairman Isidro Fainé, despite achieving significant growth in Criteria's portfolio value to €33.4 billion in 2024. Francisco Reynés, president of Naturgy, will become C...

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What were the primary factors leading to the unexpected dismissal of Ángel Simón as CEO of Criteria Caixa after only 15 months, and what are the immediate consequences for the company?

Ángel Simón, Criteria Caixa's CEO, was unexpectedly dismissed after 15 months. This follows a period of significant acquisitions and increased influence for Criteria, but also apparently a deterioration of trust between Simón and Isidro Fainé, Criteria's chairman. Simón's dismissal was announced on Tuesday, amidst a massive electrical blackout in Spain.

europe.chinadaily.com.cn

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Apr 30, 07:19

Sinochem Disputes Loss of Control Over Pirelli, Citing Italian Law

Marco Polo International (MPI), a Sinochem subsidiary, disputes Pirelli's board's declaration of no controlling shareholder, citing Italy's "Golden Power" regulations; this highlights ongoing tensions between MPI and Pirelli's management, particularly Marco Tronchetti Provera, over control and opera...

Sinochem Disputes Loss of Control Over Pirelli, Citing Italian Law

Marco Polo International (MPI), a Sinochem subsidiary, disputes Pirelli's board's declaration of no controlling shareholder, citing Italy's "Golden Power" regulations; this highlights ongoing tensions between MPI and Pirelli's management, particularly Marco Tronchetti Provera, over control and opera...

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What are the immediate implications of MPI's claim of continued control over Pirelli under Italian law?

Marco Polo International (MPI), a subsidiary of China's Sinochem, disagrees with Pirelli's board assessment that it no longer holds controlling interest. MPI asserts its control remains under Italy's "Golden Power" regulations. This dispute highlights ongoing tension between MPI and Pirelli's management, particularly executive vice-chairman Marco Tronchetti Provera.

Showing 1 to 12 of 175 results