Tag #Corporate Governance

Showing 97 to 108 of 263 results

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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Decent Work and Economic Growth

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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.

forbes.com

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Apr 29, 07:14

Proxy Advisory Firms' Influence on Corporate Governance and Financial Performance

The House Financial Services Committee's April 29th hearing exposed how ISS and Glass Lewis, controlling 97% of the proxy advisory market, significantly influence corporate governance and shareholder voting outcomes, particularly on ESG issues, often to the detriment of companies' financial performa...

Proxy Advisory Firms' Influence on Corporate Governance and Financial Performance

The House Financial Services Committee's April 29th hearing exposed how ISS and Glass Lewis, controlling 97% of the proxy advisory market, significantly influence corporate governance and shareholder voting outcomes, particularly on ESG issues, often to the detriment of companies' financial performa...

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What inherent conflicts of interest exist within the proxy advisory industry, and how do these conflicts affect the objectivity and accuracy of their recommendations, especially concerning ESG issues?

This duopoly's inherent conflict of interest stems from their sponsorship of ESG programs while advising on them, creating a bias favoring pro-ESG proposals. Studies show a negative correlation between ESG-related proxy measures and financial returns; one study in the Journal of Financial Economics found a 14% lower valuation for companies targeted by activist public pension funds promoting social agendas. This bias is further exacerbated by the lack of transparency in their methodologies and the prevalence of robo-voting.

lemonde.fr

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Apr 28, 07:18

French Companies Extend CEO Retirement Ages, Circumventing Legal Limits

Several major French companies are amending their bylaws to extend the retirement ages of their CEOs and presidents, circumventing a legal limit of 65, raising concerns about corporate governance and succession planning. This practice, while legal, is becoming increasingly common, with examples such...

French Companies Extend CEO Retirement Ages, Circumventing Legal Limits

Several major French companies are amending their bylaws to extend the retirement ages of their CEOs and presidents, circumventing a legal limit of 65, raising concerns about corporate governance and succession planning. This practice, while legal, is becoming increasingly common, with examples such...

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How are French companies circumventing legal age limits for CEOs and presidents, and what are the immediate consequences of this practice?

French law mandates a maximum age of 65 for CEOs and presidents of companies, but companies can amend their bylaws to extend this limit. This is increasingly common, with several high-profile examples recently pushing retirement ages significantly higher. These changes are often justified by the need for experienced leadership during crucial transitions.

theguardian.com

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Apr 16, 16:15

FRC Investigates EY's Role in Post Office Horizon Scandal

The UK's Financial Reporting Council (FRC) is investigating EY's audits of the Post Office's accounts between 1999 and 2018, focusing on the role of the Horizon IT system in the wrongful convictions of over 900 post office workers, following a public inquiry that concluded in December 2023 and cost ...

FRC Investigates EY's Role in Post Office Horizon Scandal

The UK's Financial Reporting Council (FRC) is investigating EY's audits of the Post Office's accounts between 1999 and 2018, focusing on the role of the Horizon IT system in the wrongful convictions of over 900 post office workers, following a public inquiry that concluded in December 2023 and cost ...

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Peace, Justice, and Strong Institutions

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What are the immediate implications of the FRC's investigation into EY's audit of the Post Office accounts concerning the Horizon system?

EY, one of the "big four" accounting firms, is under investigation by the Financial Reporting Council (FRC) for its auditing of the Post Office's accounts during the Horizon software scandal. The investigation focuses on whether EY met auditing standards concerning the Horizon IT system, which led to the wrongful conviction of hundreds of post office workers. This follows a long-running inquiry that concluded in December 2023.

theglobeandmail.com

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Apr 8, 04:11

Plantro's Controversial Mini-Tender Offer for ISC Shares Rejected

Plantro Ltd. made a mini-tender offer for up to 15 percent of ISC's Class A shares at $27.25 each, a 10 percent premium, which ISC called "coercive" and rejected, citing concerns about Plantro's attempt to gain board control without paying a control premium and the precedent this bid sets.

Plantro's Controversial Mini-Tender Offer for ISC Shares Rejected

Plantro Ltd. made a mini-tender offer for up to 15 percent of ISC's Class A shares at $27.25 each, a 10 percent premium, which ISC called "coercive" and rejected, citing concerns about Plantro's attempt to gain board control without paying a control premium and the precedent this bid sets.

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How does Plantro's past dealings with D&D shed light on its motives and strategies in the ISC bid?

This mini-tender offer by Plantro is a strategic move to influence ISC's board without a formal takeover bid, exploiting market volatility. ISC's rejection highlights concerns about market fairness and investor protection. Plantro's previous actions with D&D, including a failed bid and subsequent stock sale, add to the controversy surrounding this offer.

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.

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%.

sueddeutsche.de

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Apr 29, 07:14

German Corporate Boards See Record High in Female Representation

A decade after Germany's 2015 law mandating female representation on corporate boards, women now hold 37.5% of private sector supervisory board positions and 38.9% of public sector positions, a significant increase from 19.9% and 24.1% respectively.

German Corporate Boards See Record High in Female Representation

A decade after Germany's 2015 law mandating female representation on corporate boards, women now hold 37.5% of private sector supervisory board positions and 38.9% of public sector positions, a significant increase from 19.9% and 24.1% respectively.

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Gender Equality

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How does the effectiveness of the quota differ between the private and public sectors in Germany?

The increase in women's representation in German corporate leadership is directly linked to the 2015 law establishing a 30% quota for women on supervisory boards of large companies. This legislation, along with subsequent amendments, has demonstrably impacted both the private and public sectors, significantly increasing female representation.

cincodias.elpais.com

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Apr 27, 22:12

L'Oréal Heiress Steps Down, Family Holding Company to Take Over

Françoise Bettencourt Meyers, L'Oréal heiress and former world's richest woman, will step down from the company's board this week, replaced by the family holding company Téthys, with her son Jean-Victor Meyers taking over as vice-chairman.

L'Oréal Heiress Steps Down, Family Holding Company to Take Over

Françoise Bettencourt Meyers, L'Oréal heiress and former world's richest woman, will step down from the company's board this week, replaced by the family holding company Téthys, with her son Jean-Victor Meyers taking over as vice-chairman.

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What is the immediate impact of Françoise Bettencourt Meyers' resignation from L'Oréal's board?

Françoise Bettencourt Meyers, the world's second-richest woman and L'Oréal heiress, will step down from L'Oréal's board after 28 years. This decision, announced this week, will see her leave her post as board member and vice-chairwoman. Her family's holding company, Téthys, will replace her on the board.

elmundo.es

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Apr 8, 04:12

Oughourlian Bolsters Prisa Stake Amid Power Struggle

Prisa's chairman Joseph Oughourlian bought 5.1 million shares on April 1st, costing nearly €2 million, to solidify his position before a shareholder meeting in May where he faces a challenge from Global Alconaba, who are pursuing legal action against Oughourlian's recent capital increase and debt re...

Oughourlian Bolsters Prisa Stake Amid Power Struggle

Prisa's chairman Joseph Oughourlian bought 5.1 million shares on April 1st, costing nearly €2 million, to solidify his position before a shareholder meeting in May where he faces a challenge from Global Alconaba, who are pursuing legal action against Oughourlian's recent capital increase and debt re...

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What is the immediate impact of Oughourlian's recent share purchase on the power struggle within Prisa?

Joseph Oughourlian, Prisa's chairman and largest shareholder, bought 5.1 million shares for nearly €2 million, increasing his stake by 0.4%. This move, made on April 1st, aims to prevent rivals from increasing their holdings before the upcoming shareholder meeting in May, where he faces a challenge from Global Alconaba, a group closer to the Spanish government.

theglobeandmail.com

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Apr 5, 16:11

HBC Cuts Executive Retirement Payments, Exposing Regulatory Gap

Hudson's Bay Co. is cutting payments to a smaller group of former executives' supplementary executive retirement plans (SERPs) after the company's liquidation, highlighting a gap in Canada's bankruptcy protection for these unregulated plans, unlike registered pension plans protected by the 2023 fede...

HBC Cuts Executive Retirement Payments, Exposing Regulatory Gap

Hudson's Bay Co. is cutting payments to a smaller group of former executives' supplementary executive retirement plans (SERPs) after the company's liquidation, highlighting a gap in Canada's bankruptcy protection for these unregulated plans, unlike registered pension plans protected by the 2023 fede...

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How do the bankruptcy protections in Bill C-228 affect SERPs, and what are the potential long-term consequences of this distinction?

The recent HBC case highlights a gap in Canada's bankruptcy protection laws. While Bill C-228 prioritizes registered pension plans, it excludes SERPs, which are supplemental retirement plans for top earners. These plans are often not fully funded, creating significant financial risk for executives who relied on them for retirement income.

Showing 97 to 108 of 263 results