Tag #Corporate Governance

smh.com.au
🌐 75% Global Worthiness
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ANZ CEO Forfeits \$3.2M Bonus After Shareholder Backlash

ANZ CEO Shayne Elliott forfeited \$3.2 million in bonuses following a shareholder revolt at the annual general meeting, driven by concerns over mismanagement, reputational damage from a bond trading scandal, and a delayed tech rollout; the bank also faced a protest vote on climate policies.

Progress

52% Bias Score

Decent Work and Economic Growth
theglobeandmail.com
🌐 85% Global Worthiness
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Bain Launches Hostile Bid for Fuji Soft, Escalating Bidding War with KKR

Bain Capital is launching a $2 billion hostile takeover bid for Fuji Soft, competing with KKR, which currently holds a 34% stake, despite Fuji Soft's board preferring KKR's lower offer. Bain is backed by Fuji Soft's founder, and the higher offer price is creating a bidding war that has increased the...

Progress

52% Bias Score

Decent Work and Economic Growth
us.cnn.com
🌐 75% Global Worthiness
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Express CEO's \$1 Million in Perks During Bankruptcy Draws SEC Scrutiny

Express, the fashion retailer, filed for bankruptcy amid declining sales; its CEO, Tim Baxter, used almost \$1 million in company perks, including personal jet use, which the SEC investigated, resulting in a cease-and-desist order without penalties due to cooperation.

Progress

44% Bias Score

Reduced Inequality
forbes.com
🌐 85% Global Worthiness
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Executive Survey Reveals High Prevalence of Undetected Earnings Manipulation

A study of 971 U.S. executives revealed that 27% admitted to manipulating earnings in the past five years, with the list experiment showing significantly higher rates of fraud (12%) and operational changes (30%) than the anonymous survey, highlighting the prevalence of undetected financial misconduc...

Progress

40% Bias Score

Reduced Inequality
forbes.com
🌐 75% Global Worthiness
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Nasdaq Diversity Rule Rejection: Shifting Board Composition Strategies

A federal court struck down Nasdaq's proposed rules mandating board diversity, impacting DEI initiatives; however, the Conference Board's 2024 report shows increased board diversity but slower progress, while the rise of general counsel as board members offers a new perspective.

Progress

52% Bias Score

Gender Equality
faz.net
🌐 65% Global Worthiness
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"DAX Supervisory Board Pay: Volkswagen Leads with 42% Increase in 2023"

"The DSW's 2023 study shows that DAX supervisory board chair compensation averaged €421,000, a 7.5% increase, while Volkswagen's total supervisory board pay reached €7.5 million, a 42% increase—all DAX companies now use fixed compensation for supervisory board members."

Progress

44% Bias Score

Reduced Inequality
cincodias.elpais.com
🌐 65% Global Worthiness
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Rovi Expands Audit Reports Following CNMV Requirements on Sustainability

Following a CNMV request, Laboratorios Rovi expanded its audit reports to address climate change mitigation, ESG objectives, alternative performance measures, ethical channels, and water usage in its Alcalá de Henares and San Sebastián de los Reyes plants, with plans to update the ESG plan in 2025.

Progress

32% Bias Score

Climate Action
forbes.com
🌐 85% Global Worthiness
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Germany Needs Business Reinvention to Avoid Economic Crisis

German Chancellor Olaf Scholz's potential downfall highlights the urgent need for German businesses to reinvent their models, embracing innovation to overcome the challenges of global market shifts and avoid the fate of companies like Kodak, Blockbuster, and Nokia, as analyzed in Dr. Julia Duwe's bo...

Progress

52% Bias Score

Industry, Innovation, and Infrastructure
cnn.com
🌐 75% Global Worthiness
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Express CEO Misused Nearly $1 Million in Perks During Bankruptcy

Express's former CEO, Tim Baxter, misused almost \$1 million in company perks, including personal jet use, while the company slid into bankruptcy; the SEC settled with Express without a penalty due to cooperation.

Progress

48% Bias Score

Reduced Inequality
taz.de
🌐 85% Global Worthiness
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US Court Blocks Nasdaq's Diversity Mandate, Reflecting National DEI Shift

A US federal appeals court blocked Nasdaq's diversity mandate for corporate boards, impacting 3,300 companies and reflecting a broader trend among US firms abandoning DEI initiatives, despite concerns about hindering progress toward true equality.

Progress

68% Bias Score

Gender Equality
cnbc.com
🌐 85% Global Worthiness
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"Political Instability Widens 'Korea Discount,' Deepening Stock Market Crisis"

"South Korea's Kospi index has fallen over 7% in 2024, widening the 'Korea discount' due to political upheaval and concerns over corporate governance at family-owned conglomerates (chaebols) that account for approximately 40% of the country's GDP, despite a government-led 'Value-Up' program to impro...

Progress

68% Bias Score

Decent Work and Economic Growth
abcnews.go.com
🌐 85% Global Worthiness
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Murdoch Family Trust Amendment Rejected: Son Lachlan Denied Sole Control

A Nevada probate commissioner rejected Rupert Murdoch's attempt to amend his family trust, preventing his son Lachlan from gaining sole control of his media empire after his death; the decision stems from allegations of bad faith and a family rift over political differences.

Progress

56% Bias Score

Reduced Inequality