All Articles from BLOOMBERG NEWS -BoardProspects

Articles from BLOOMBERG NEWS

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1. Ted Baker Faces Investor Revolt Over Executive Pay, Times Says
  
  Explore BNN Bloomberg Jul 12 2020 BoardNews
  
  (Bloomberg) -- Ted Baker Plc is facing a revolt against controversial plans to increase executive pay as the company fights for survival, the Sunday Times reported. Institutional Shareholder Services Inc. recommended that investors vote down the retailer’s remuneration policy at its annual general meeting next week, the paper reported. The advisory firm says the company’s decision to increase executive salaries and bonuses is not justified...
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  Mentions: Investors ISS Bloomberg
2. Activision CEO's US$30 Million Pay Opposed by Pro-Labor Investor
  
  Explore BNN Bloomberg Jun 4 2020 BoardNews
  
  CtW Investment Group, a pro-labor group, is urging shareholders of the video-game company Activision Blizzard Inc. to oppose the pay package of Chief Executive Officer Bobby Kotick following job cuts last year. Kotick, who’s led Activision for about three decades, has received about US$30 million in compensation annually over the past few years, regulatory filings show. The vote is set for June 11...
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  Mentions: Investment ISS stock options
3. Bankruptcy is a Jackpot for CEOs Helming Failed Oil Companies
  
  Explore BNN Bloomberg Jun 4 2020 BoardBlogs
  
  For Whiting Petroleum Corp. Chief Executive Officer Brad Holly, filing for bankruptcy had at least one perk: a US$900,000 pay raise. Across the oil industry, leaders of failing companies are hitting the jackpot even in the aftermath of COVID-19 lockdowns that destroyed energy demand, crushed prices and threw almost 100,000 rank-and-file employees out of work...
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  Mentions: bankruptcy Pay Raise Chapter 11
4. Liberty Global Plays Down CEO’s Potential Nine-Figure Pay Packet
  
  Explore BNN Bloomberg May 23 2020 BoardNews
  
  (Bloomberg) -- Liberty Global Plc’s Chief Executive Officer Mike Fries is in line for as much as $123 million in compensation, filings ahead of its June 30 annual meeting show. The company was keen to call that gross figure misleading. Fries is able to bank about $50 million for the year finished 2019. About half of that is equity awards. The larger nine-figure number in the proxy filing includes unearned performance-related income rolled in from the next five years, the company said...
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  Mentions: Annual Meeting Bloomberg stock options
5. Mack-Cali Board Minority Accuses Colleagues of Ignoring Concerns
  
  Explore BNN Bloomberg May 22 2020 BoardNews
  
  (Bloomberg) -- Four Mack-Cali Realty Corp. directors elected last year after a proxy fight with one of the company’s largest investors are going public with claims their views are being ignored as another boardroom battle comes to a head. The foursome is taking the unusual step of issuing a rebuke of the board’s old-guard majority, arguing they are disregarding concerns about the strategic direction of the real estate investment trust...
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  Mentions: Investment Investors Proxy Fight
6. Lone Women in Boardroom are Likeliest to be Stretched for time
  
  Explore BNN Bloomberg Jul 30 2019 BoardBlogs
  
  Companies that hold out too long on adding their first female board member are more likely to pick one who’s already a director elsewhere, meaning she’ll have less time to devote to the firm, a Bloomberg Intelligence study found. Lone female directors served on an average of about 1.4 boards, the busiest of all classes of directors, according to the research released Tuesday by Bloomberg Intelligence analyst Rob Du Boff, who described the phenomenon as “ovHERboardedness.” For women on boards in the S&P 500 or Stoxx 600 with two or more female directors, there was little ...
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  Mentions: Board Diversity MSCI Bloomberg
7. Takeaway.com Confirms $6 Billion Bid for Delivery Rival Just Eat
  
  Explore BNN Bloomberg Jul 29 2019 BoardNews
  
  (Bloomberg) -- Takeaway.com NV has bid 5 billion pounds ($6.2 billion) for rival Just Eat Plc, a deal that would intensify a fight against rivals including Uber Technologies Inc. The Dutch-based company is offering an all share deal at a 15% premium to Just Eat’s share price on July 26, according to a statement Monday. The new company also intends to remain headquartered in Amsterdam, with a premium listing on the London Stock Exchange...
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  Mentions: Goldman Sachs Bank of America acquisition
8. Activist Peltz Pushing Ferguson to Exit the U.K., SkyNews Says
  
  Explore BNN Bloomberg Jul 28 2019 BoardNews
  
  (Bloomberg) -- Activist investor Nelson Peltz is pushing Ferguson Plc to sell its U.K. business and move its stock-market listing to New York, SkyNews reported without citing sources. Peltz has also asked the board of the plumbing-equipment supplier to drop its listing on the London Stock Exchange. Ferguson generates 87% of its revenue in North America...
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  Mentions: Management Nelson Peltz Trian Fund
9. Catalyst Offers to Buy Hudson’s Bay Shares to Block Takeover Bid
  
  Explore BNN Bloomberg Jul 22 2019 BoardNews
  
  Private equity firm Catalyst Capital Group Inc. is offering to purchase up to $150 million (US$114 million) worth of shares of Hudson’s Bay Co. ( HBC.TO ) as it builds a stake in the Canadian retailer in an effort to thwart a proposed takeover of the company. The Toronto-based firm said in a statement Monday it was was prepared to pay $10.11 per share in cash for up to roughly 14.8 million common shares...
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  Mentions: Takeover Bid Takeover Hudson Bay Corporation
10. Deutsche Bank Executives Who Won and Lost in the Big Shakeup
  
  Explore BNN Bloomberg Jul 8 2019 BoardBlogs
  
  (Bloomberg) -- Deutsche Bank AG Chief Executive Officer Christian Sewing says he wants a real team to manage the company rather than a collection of individuals. And the roster is changing fast. Since taking over in a bitter boardroom fight just over a year ago, Sewing has moved to surround himself with executives that he’s worked closely with during his almost 30-year career while showing others the door...
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  Mentions: Management Bloomberg Brexit
11. Jana Partners Is Said to Have Built Stake in Axalta Coating
  
  Explore BNN Bloomberg Jun 22 2019 BoardNews
  
  (Bloomberg) -- Activist investor Jana Partners has built a position Axalta Coating Systems Ltd., the car paint maker that announced a strategic review, according to people familiar with the matter. The New York-based hedge fund run by Barry Rosenstein invested in recent months and has been pushing the company to explore alternatives, said the people, who asked not to be identified because the matter was private. The exact size of its stake couldn’t be learned...
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  Mentions: Hedge Fund DuPont Axalta Coating
12. Chairman’s Bid for Hudson’s Bay ‘Woefully Inadequate,’ Litt Says
  
  Explore BNN Bloomberg Jun 18 2019 BoardNews
  
  (Bloomberg) -- Activist investor Land & Buildings Investment Management has often pushed for change at struggling Hudson’s Bay Co. But not just any change will do -- especially not the chairman’s “woefully inadequate offer” to take the retailer private. The New York hedge fund, run by Jonathan Litt, came out swinging Tuesday against the C$9.45-a-share bid announced last week by Richard Baker and other investors for the remaining stock of Hudson’s Bay...
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13. Calpers Diversity Push Blends Social-Investing Camps
  
  Explore BNN Bloomberg Jun 18 2019 BoardBlogs
  
  (Bloomberg Opinion) -- The California Public Employees’ Retirement System is after the new holy grail of investing: Doing well by doing good. Calpers, the largest U.S. pension fund with roughly $360 billion in assets, sponsored a proposal at casino operator Red Rock Resorts Inc.’s annual meeting last week requiring that board nominees running unopposed receive approval from a majority of shareholders...
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  Mentions: Leadership Opinion Annual Meeting
14. Bill Ackman misses the mark with Raytheon deal critique -
  
  Explore BNN Bloomberg Jun 12 2019 BoardNews
  
  Bill Ackman’s critique of United Technologies Corp.’s planned merger with Raytheon Co. cries out for a critique of its own. The activist investor sent an e-mail to United Technologies CEO Greg Hayes over the weekend expressing concern about reports that the company was nearing a deal with missile-maker Raytheon. “We cannot comprehend the strategic logic,” Ackman wrote of the merger, which was announced late Sunday as an all-stock, no premium transaction.
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  Mentions: Otis Merger Bloomberg
15. Activist Investor Crystal Amber Seeks to Oust Allied Minds Board - Bnn
  
  Explore BNN Bloomberg Jun 12 2019 BoardNews
  
  (Bloomberg) -- Crystal Amber Fund Ltd., the U.K. activist investor run by Richard Bernstein, is seeking to replace the board of technology incubator Allied Minds Plc after management rebuffed an attempt to discuss the company’s strategy. Crystal Amber, which has criticized Allied Minds’s executive compensation, is considering calling a shareholder meeting to oust the company’s current directors, Bernstein said in a phone interview Wednesday.
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  Mentions: Management stake Bloomberg
16. Ackman Threatens Fight Over United Technologies-Raytheon Deal
  
  Explore BNN Bloomberg Jun 11 2019 BoardNews
  
  (Bloomberg) -- Bill Ackman urged United Technologies Corp. to call off its proposed takeover of Raytheon Co., vowing to oppose a deal he assailed as lacking strategic sense. The transaction will crimp United Technologies’ aerospace business and be funded by a “highly dilutive” share issuance at a time when the stock is already trading at a discount, the activist investor said in a message early on June 9 after reports of a potential deal...
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  Mentions: Management Takeover acquisition
17. Carl Icahn Challenges Occidental's ‘Hugely Overpriced’ Anadarko Deal
  
  Explore BNN Bloomberg May 30 2019 BoardNews
  
  (Bloomberg) -- Billionaire activist investor Carl Icahn is challenging Occidental Petroleum Corp.’s $38 billion takeover of Anadarko Petroleum Corp., calling the transaction “fundamentally misguided and hugely overpriced” in a lawsuit that seeks corporate records related to the deal. Ichan holds more than $1.6 billion of Occidental stock, according to the suit filed in a Delaware court Thursday...
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  Mentions: Delaware Takeover lawsuit
18. Exxon Investors Move Closer to Upending Dual CEO-Chairman Role
  
  Explore BNN Bloomberg May 29 2019 BoardNews
  
  Exxon Mobil Corp. ( XOM.N ) beat back mounting pressure to split the chairman and chief executive positions, and dismantle a structure that dates back decades and has seen the explorer through oil embargoes, war, currency crises and nationalizations. A total of 40.8 per cent of shareholders voted Wednesday for the proposal, an increase from last year’s 38.7 per cent but short of the simple majority required for it to pass at Exxon’s annual general meeting in Dallas...
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  Mentions: Investors Exxon Mobil Darren Woods
19. Old Mutual CEO in No Mood to Go Quietly in Boardroom Dispute -
  
  Explore BNN Bloomberg May 25 2019 BoardNews
  
  (Bloomberg) -- Old Mutual Ltd. has embarked on a transition unlike any in its 174-year history. Suspended by the board for conflicts of interest involving his investment firm NMT Capital, Chief Executive Officer Peter Moyo signaled he had no intention of going quietly. The 56-year-old South African insists he’s done nothing wrong and his links with NMT are above board. He is demanding a “complete” payout deal before he even considers accepting an exit offer, he said by phone on Friday...
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  Mentions: Investment stake Bloomberg
20. Activist Investors Get More Backing for Change at PDC Energy
  
  Explore BNN Bloomberg May 24 2019 BoardNews
  
  (Bloomberg) -- The push for change at oil and gas producer PDC Energy Inc. has won the support of another activist investor, who plans to vote in favor of Kimmeridge Energy Management’s three nominees for the board. Lion Point Capital, which owns a 2.3% stake in PDC Energy, believes the company requires changes at the board level to improve its performance...
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  Mentions: Management Investors acquisition
21. Acreage Shareholder Supports Canopy Deal Amid Opposition
  
  Explore BNN Bloomberg May 23 2019 BoardNews
  
  (Bloomberg) -- One of Acreage Holdings Inc.’s earliest shareholders has come out in favor of its sale to Canopy Growth Corp. as the target company’s shares languish well below the offer price. Cresco Capital Partners LLC, which has owned Acreage since 2015, said the New York-based cannabis firm’s association with Canopy will give it a capital boost even before the closing of the deal, which is contingent on U.S. legalization...
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  Mentions: Management Marcato Capital Management Sale
22. Texas Land Bank Proxy Fight Turns Ugly as Dissident Nominee Sued
  
  Explore BNN Bloomberg May 22 2019 BoardNews
  
  (Bloomberg) -- Texas Pacific Land Trust postponed a special shareholders meeting and sued the activist investor vying for a trustee job, the latest twist in an increasingly acrimonious proxy fight. The meeting, previously scheduled for June 6, has been called off until further notice to give investors "the opportunity to cast a fully informed vote,’’ Trustee David E. Barry said Tuesday in a statement...
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  Mentions: Investors Proxy Fight bankruptcy
23. Wall Street Pay Proposal Being Negotiated by SEC, Bank Regulator
  
  Explore BNN Bloomberg May 16 2019 BoardNews
  
  (Bloomberg) -- The latest effort to impose restrictions on Wall Street bonuses is advancing as key regulators review a draft of new limits, according to Joseph Otting, head of the Office of the Comptroller of the Currency. Otting told members of the House Financial Services Committee at a Thursday hearing that a proposal written by his agency has been shared with the Securities and Exchange Commission...
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  Mentions: Dodd-Frank Bloomberg stock options
24. Allianz Wins Shareholder Backing for Changes to Executive Pay
  
  Explore BNN Bloomberg May 8 2019 BoardNews
  
  (Bloomberg) -- Allianz SE won shareholder approval for its new policy on management-board pay, avoiding the sort of investor backlash seen at some European firms in recent years. The German insurer proposed increasing the importance of fixed salary and long-term incentives in its first changes to remuneration policy since 2010. The plan passed easily at the firm’s annual general meeting on Wednesday with 92% of the votes cast...
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  Mentions: Investment Management Bloomberg
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