All Articles from BLOOMBERG NEWS -BoardProspects

Articles from BLOOMBERG NEWS

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1. 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 Executive Compensation SEC
2. 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
3. Deutsche Bank Execs Under Fire After Shareholder Adviser Reports
  
  Explore BNN Bloomberg May 8 2019 BoardNews
  
  (Bloomberg) -- Deutsche Bank AG’s next challenge after the breakdown of merger talks with Commerzbank AG may be its own angry shareholders. ISS and Glass Lewis -- the world’s biggest shareholder advisory firms -- are recommending investors vote against backing Deutsche Bank’s management and supervisory board at its annual general meeting on May 23. The firms pointed to the shares, which lost about 40 percent over the past year, as well as the bank’s continued legal and business challenges...
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  Mentions: Management Investors ISS
4. Papa John's Sales Fall Less Than Expected Under New Chairman
  
  Explore BNN Bloomberg May 7 2019 BoardNews
  
  Papa John’s International Inc.’s (PZZA.O) sales topped analyst estimates, indicating the pizza seller is getting its mojo back under new management. Comparable sales in North America fell 6.9 per cent last quarter, beating projections for a 7.3-per-cent fall and slowing the recent pace of declines. The results are the first under new chairman Jeffrey Smith. The chain is pushing to bolster its advertising, and in March brought in a new global marketing head from Subway Restaurants...
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  Mentions: Management Starboard Value Papa John's
5. Asia's Longest-Serving Directors Can Be Found in the Philippines
  
  Explore BNN Bloomberg Apr 28 2019 BoardBlogs
  
  (Bloomberg) -- Family-led enterprises are common across Asia yet the Philippines takes such control to the extreme. Philippine companies have the region’s oldest directors and the longest board tenures as owners and their trusted advisers keep tight hold on the reins of banking, property and retail giants. This has implications in the region’s push for greater board diversity...
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  Mentions: Board Diversity Diversity risk
6. Investor Revolt at Bayer to Escalate After CEO Keeps His Job
  
  Explore BNN Bloomberg Apr 27 2019 BoardNews
  
  (Bloomberg) -- The shareholder rebellion at Bayer AG is poised to worsen after its supervisory board ignored an unprecedented no-confidence vote against the leadership of Chief Executive Officer Werner Baumann. Several top investors of the German chemicals and drugs giant are frustrated with directors’ decision to back Baumann and his strategy that led to the $63 billion takeover of Monsanto, according to people familiar with the matter...
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  Mentions: Leadership Management Investors
7. Norwegian Oil Giant Bends to Investor Pressure on Climate
  
  Explore BNN Bloomberg Apr 24 2019 BoardNews
  
  (Bloomberg) -- Equinor ASA is the latest large oil company to bow to a major investor group that is pushing corporations to take more robust action on climate change. The Norwegian state oil giant has agreed to align its business model with the goals of the 2015 Paris climate accord, and will review its corporate lobbying policy and the carbon intensity of its products, the company said in a statement. It will also link executive pay to climate-related targets...
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  Mentions: Climate Change Equinor
8. Bed Bath & Beyond Spruces Up Its Board But Needs an Overhaul
  
  Explore BNN Bloomberg Apr 22 2019 BoardBlogs
  
  (Bloomberg Opinion) -- In the face of pressure from an activist investor coalition, Bed Bath & Beyond announced a bit of spring cleaning on Monday. The retailer said five of its board members would depart, including the chain’s co-founders, Warren Eisenberg and Leonard Feinstein. Five new directors have been appointed to replace them, and board member Patrick Gaston has been named independent chairman...
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  Mentions: Opinion Amazon CFO
9. Barclays Hits Back at Activist’s ‘Misleading’ Criticisms
  
  Explore BNN Bloomberg Apr 11 2019 BoardNews
  
  (Bloomberg) -- Barclays Plc escalated its war of words with the activist shareholder who is seeking radical changes to the lender’s existing strategy, saying his plans to cut back the investment bank are “unclear and based on multiple factual errors.” The British bank said it strongly opposes Edward Bramson’s appointment to its board, according to a statement on Thursday...
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  Mentions: Investment Barclays stake
10. TransAlta Board Nominees Win Glass Lewis Support Amid Proxy Threat
  
  Explore BNN Bloomberg Apr 9 2019 BoardNews
  
  TransAlta Corp. won support for its board nominees from a prominent shareholder advisory firm that noted two activist investors threatening a proxy fight haven’t filed the paperwork with regulators for their own candidates. Glass Lewis & Co. said it believed there was no substantial issue with any of the Alberta utility’s 12 nominees, including two affiliated with Brookfield Asset Management Inc., related to the asset manager’s $750 million TransAlta investment announced last month...
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  Mentions: Investment Activist Investors Management
11. Verint Rejects Neuberger Berman's Call to Replace Directors
  
  Explore BNN Bloomberg Apr 9 2019 BoardNews
  
  (Bloomberg) -- Verint Systems Inc. has rejected Neuberger Berman Group’s call to replace three of its directors after the software company’s improved financial outlook and share price allowed it to push back on the investor’s demand for an overhaul. Neuberger Berman, which holds 2.6 percent of Verint, nominated the directors for election at the company’s 2019 annual general meeting...
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  Mentions: Bloomberg Beatriz Infante social media
12. UBS Shareholders Urged to Reject Pay Proposal for Top Executives
  
  Explore BNN Bloomberg Apr 9 2019 BoardNews
  
  (Bloomberg) -- UBS Group AG investors should reject the bank’s compensation report, shareholder adviser Glass Lewis said, citing high fines in a legal dispute and a generally lackluster performance of bank shares. UBS had proposed a pay package that included 14.1 million francs ($14 million) in compensation for Chief Executive Officer Sergio Ermotti for last year...
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  Mentions: Investors Credit Suisse UBS
13. Carlos Ghosn Casts a Dark Shadow Over Corporate Japan
  
  Explore BNN Bloomberg Apr 8 2019 BoardBlogs
  
  (Bloomberg Opinion) -- Activist investors are circling Japan Inc., creating momentum for change in the country’s boardrooms. While you’d hope that the Carlos Ghosn saga would help in that effort, it may in fact slow things down. The latest episode in Ghosn’s downfall came on Monday, as shareholders in Nissan Motor Co. voted to remove him as a director...
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  Mentions: Opinion Activist Investors Investors
14. Barrick’s Deal-Making Chairman Awarded $12.9 Million in 2018
  
  Explore BNN Bloomberg Apr 6 2019 BoardNews
  
  (Bloomberg) -- Barrick Gold Corp. boosted Executive Chairman John Thornton’s total compensation last year 67 percent to $12.9 million, rewarding the former investment banker for the company’s performance and his role in the merger with Randgold Resources Ltd. Thornton received a $9.74 million bonus on top of his $2.5 million salary, according to a regulatory filing Friday. He used most of the after-tax proceeds of the bonus to buy 215,000 Barrick shares, the filing said...
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  Mentions: Investment Goldman Sachs acquisition
15. All Eyes on California as PG&E Cuts Deal on Board Overhaul
  
  Explore BNN Bloomberg Apr 4 2019 BoardBlogs
  
  (Bloomberg) -- After a weeks-long battle, bankrupt power giant PG&E Corp. has struck a deal with a group of investors to hire a chief executive officer and form a new board that will lead the company through the biggest utility bankruptcy in U.S. history. Now it just has to sell the slate to California’s leaders...
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  Mentions: Management Investors KKR
16. PG&E Is Near a Deal With Hedge Funds on CEO, Board Overhaul
  
  Explore BNN Bloomberg Apr 2 2019 BoardNews
  
  (Bloomberg) -- PG&E Corp., the bankrupt California power giant facing $30 billion in wildfire liabilities, is nearing a deal with a group of investors that includes naming Bill Johnson as chief executive officer and overhauling its board, according to people familiar with the matter...
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  Mentions: Management Investors KKR
17. Mondelez in Advanced Talks for Campbell's Cookie Assets
  
  Explore BNN Bloomberg Mar 29 2019 BoardNews
  
  (Bloomberg) -- Mondelez International Inc., the maker of Oreo cookies and Cadbury chocolates, is in advanced talks to acquire international brands being sold by Campbell Soup Co., people familiar with the matter said. Mondelez is negotiating final terms of a purchase of Arnott’s Biscuits, the Australian maker of Tim Tam cookies, and Danish butter-cookie producer Kelsen Group, according to the people...
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  Mentions: KKR Bloomberg Dan Loeb
18. Nissan is Said to Have Paid Stanford Tuition for Ghosn Children
  
  Explore BNN Bloomberg Mar 26 2019 BoardNews
  
  Nissan Motor Co. paid tuition for all four of ousted chairman Carlos Ghosn’s children when they attended Stanford University between 2004 and 2015, according to people familiar with the matter. The perk was part of Ghosn’s employment contract from 1999, when he was hired as chief executive officer of the Japanese carmaker, said one of the people, who asked not to be named because the information isn’t public...
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  Mentions: Japan stock options Stanford University
19. Deutsche Bank U.S. Employees Said to Get Major Share of Bonuses
  
  Explore BNN Bloomberg Mar 22 2019 BoardNews
  
  (Bloomberg) -- Deutsche Bank AG employees in the U.S. received the lion’s share of bonuses, according to a person familiar with the matter, as the lender cut its pool to drive down costs. The amount set aside for 2018 fell to 1.9 billion euros ($2.2 billion) from 2.2 billion euros a year earlier, the lender said in its annual report. The investment bank division saw the biggest reductions, with a decline to 1.2 billion euros from 1.4 billion euros last year including severance pay...
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  Mentions: Investment Bloomberg stock options
20. Activist Investor Ubben Criticizes PG&E Board Selection Process
  
  Explore BNN Bloomberg Mar 20 2019 BoardNews
  
  (Bloomberg) -- Activist investor Jeff Ubben criticized PG&E Corp. for postponing its deadline for nominating board members for a fifth time as the bankrupt utility-owner negotiates with competing shareholder groups. Ubben, ValueAct Capital Management’s chief executive officer, is part of a slate of director candidates put forth by the hedge fund BlueMountain Capital Management LLC...
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  Mentions: Management Hedge Fund KKR
21. TVA Chief Is Front-Runner for Bankrupt PG&E's Ceo Job
  
  Explore BNN Bloomberg Mar 12 2019 BoardNews
  
  (Bloomberg) -- The person to lead California utility giant PG&E Corp. out of the biggest utility bankruptcy in U.S. history may be Bill Johnson, the outgoing chief of the federally operated Tennessee Valley Authority. Johnson is PG&E’s top pick for chief executive officer, people familiar with the situation said, while cautioning that the company hasn’t made a final decision and is still discussing the potential hire...
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  Mentions: Management KKR bankruptcy
22. Wells Fargo CEO Tim Sloan Draws Bipartisan Criticism at Tough House Hearing
  
  Explore InvestmentNews Mar 12 2019 BoardNews
  
  ... continues to be "disappointed" with the bank and "its inability to execute effective corporate governance and a successful risk management program...
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  Mentions: Risk Management Corporate Governance Management
23. Australia Is Pushing for More Women in Boardrooms
  
  Explore BNN Bloomberg Mar 6 2019 BoardNews
  
  (Bloomberg) -- Australia is making a big gender equality push in the corporate sphere -- setting a target for women to hold 30 percent of board seats for S&P/ASX 300 companies by the end of 2021. The 30% Club Australia is kicking off a campaign for the targets on Friday, which is International Women’s Day. The push is focused on smaller-cap companies...
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  Mentions: BHP Bloomberg Women
24. Wall Street Regulators Could Take a Fresh Look at Bonuses
  
  Explore BNN Bloomberg Mar 6 2019 BoardBlogs
  
  (Bloomberg) -- Wall Street could face fresh restrictions on bonus payments as regulators appointed by President Donald Trump consider dusting off post-crisis rules that have long been on the back burner, according to two people familiar with the matter. U.S. agencies including the Federal Reserve have discussed re-proposing the regulations after previous attempts to approve them in 2011 and 2016 failed, said the people, who asked not be named because the efforts are very preliminary...
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  Mentions: Dodd-Frank Executive Compensation crisis
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