All Articles from BLOOMBERG NEWS -BoardProspects

Articles from BLOOMBERG NEWS

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1. FedEx Shakes Up Board in Deal With Activist
  
  Explore BNN Bloomberg Jun 14 2022 BoardNews
  
  FedEx Corp. boosted its dividend and announced board changes in coordination with activist investor D.E. Shaw & Co., shaking up the courier just two weeks into the tenure of new Chief Executive Officer Raj Subramaniam. The quarterly dividend will jump 53 per cent to US$1.15 per share, the Memphis, Tennessee-based company said Tuesday in a statement. That’s well above the 87-cent prediction by Bloomberg analytics...
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  Mentions: Dividend Bloomberg stock options
2. McDonald’s Wins ISS Support in Board Fight With Carl Icahn
  
  Explore BNN Bloomberg May 16 2022 BoardNews
  
  (Bloomberg) -- Activist investor Carl Icahn’s efforts to revamp the board of McDonald’s Corp. were dealt a blow Monday with a prominent shareholder advisory firm arguing the billionaire hadn’t made a sufficient argument for change. Institutional Shareholder Services Inc. credited Icahn’s original push in 2012 for changing policies at McDonald’s and in the industry as a whole on the use of gestation crates for pregnant pigs, even though the fast-food chain fell short of its original goal of completely eliminating the use of the stalls in its supply chain. The advisory firm argued that the proxy ...
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  Mentions: ISS Bloomberg Icahn
3. Icahn Seeks to Topple Board at Southwest Gas, Name 10 Directors - Bnn Bloomberg
  
  Explore BNN Bloomberg Nov 14 2021 BoardNews
  
  (Bloomberg) -- Activist investor Carl Icahn plans to nominate 10 directors at Southwest Gas Holdings Inc. on Monday in an attempt to replace the entire board. The billionaire investor, who owns a 4.9% stake in Southwest Gas, has been waging a battle at the Las Vegas utility after its announced deal to acquire the pipeline company Questar last month. Icahn has criticized management for the purchase, arguing it overpaid for the asset...
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  Mentions: Management stake Bloomberg
4. Activist Investor Sachem Head to Push for Changes at US Foods
  
  Explore BNN Bloomberg Oct 7 2021 BoardNews
  
  (Bloomberg) -- Activist investor Sachem Head Capital Management has built a stake in US Foods Holding Corp. and said it plans to push for changes at the company, including potentially seeking board representation. The New York-based activist fund owns a 9.2% stake in the food distributor, including stock and options, according to a regulatory filing Thursday...
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  Mentions: Management stake Bloomberg
5. ‘Hot IPOs’ Confront ESG Questions About Corporate Governance - Bnn Bloomberg
  
  Explore BNN Bloomberg Aug 31 2021 BoardBlogs
  
  (Bloomberg) -- While investor interest in “hot IPOs” remains buoyant, questions about the companies’ corporate governance may weigh on their valuations, according to Bloomberg Intelligence analysts ...
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  Mentions: Nasdaq voting rights Bloomberg
6. Nasdaq Wins SEC Support for Plan to Diversify Company Boards
  
  Explore BNN Bloomberg Aug 6 2021 BoardNews
  
  (Bloomberg) -- Nasdaq Inc. won the Securities and Exchange Commission’s support to help get more women and minorities on boards of companies trading on the stock exchange. The SEC gave its approval of a Nasdaq board diversity proposal in an ordered posted on the agency’s website Friday...
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  Mentions: Management Goldman Sachs Nasdaq
7. Big U.S. Companies Rush to Disclose Board Diversity Data
  
  Explore BNN Bloomberg Jul 1 2021 BoardNews
  
  (Bloomberg) -- Under pressure from investors, stock exchanges and state governments, a growing number of the U.S.’s largest companies are releasing diversity data about their boards. More than 80% of the country’s 100-largest employers now report the racial and ethnic composition of their boards of directors or board nominees, advocacy group JUST Capital said in statement on Thursday. Two years ago, that figure stood at just 45%...
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  Mentions: Goldman Sachs Nasdaq Bloomberg
8. Shareholder Activism Campaigns Rebound Out of Pandemic
  
  Explore BNN Bloomberg Jun 21 2021 BoardNews
  
  (Bloomberg) -- Shareholder activists, fresh from stepping up their campaigns by a third in the first half of the year, are expected to be emboldened by an economic rebound for the rest of 2021. The total number of activist campaigns launched through June 21 at companies with a market value of more than $1 billion reached 116, up from 87 over the same period in 2020 and 115 in 2019, according to data compiled by Bloomberg...
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  Mentions: Investment Management State Street
9. The Climate Culture Shock is Coming
  
  Explore BNN Bloomberg Jun 17 2021 BoardBlogs
  
  My newsfeed—and probably your newsfeed too—is chockablock with stories about professional workers returning to their offices this summer. What the pandemic’s grand, unwitting experiment has shown is that the structure of work isn’t just habit, it’s culture. Work culture varies not just industry to industry, but also company to company, and sometimes even worker to worker...
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  Mentions: Goldman Sachs Bloomberg Exxon Mobil
10. BlackRock Shareholders Elect Verizon CEO Hans Vestberg to Board
  
  Explore BNN Bloomberg May 26 2021 BoardMoves
  
  (Bloomberg) -- BlackRock Inc., the world’s biggest asset manager, added Verizon Communications Inc. Chief Executive Officer Hans Vestberg to its board. Vestberg, 55, who was nominated in March, was elected Wednesday during BlackRock’s annual meeting. He replaces Mathis Cabiallavetta, who didn’t stand for re-election and had been a director since 2007...
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  Mentions: Annual Meeting Bloomberg Verizon
11. Genesco Appoints Three New Directors, Rejecting Activist’s Slate -
  
  Explore BNN Bloomberg May 21 2021 BoardMoves
  
  (Bloomberg) -- Genesco Inc. appointed three new directors as the shoe company tries to fend off an activist investor seeking to take control of the board. The owner of footwear retailers such as Journeys and Johnston & Murphy said it appointed former Deckers Brands Chief Executive Officer Angel Martinez, Valvoline Inc. executive Mary Meixelsperger and Greg Sandfort, the former CEO of Tractor Supply Co., to its board...
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  Mentions: Management Deckers Bloomberg
12. Boeing Board Faces New Investor Showdown Despite Share Rally
  
  Explore BNN Bloomberg Apr 19 2021 BoardNews
  
  Boeing Co.’s board is back on the hot seat ahead of the planemaker’s annual meeting Tuesday, as investors ponder a new rebuke for company leadership. A powerful pension fund, the California State Teachers’ Retirement System, pledged to vote against Boeing’s three longest-serving outside board members, including Chairman Larry Kellner...
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  Mentions: Leadership Management Annual Meeting
13. Shell Asks Investors to Vote Against Activist Climate Resolution
  
  Explore BNN Bloomberg Apr 15 2021 BoardNews
  
  (Bloomberg) -- Royal Dutch Shell Plc’s board has urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This in favor of its own energy transition plan, which the company will put to a vote next month. The Anglo-Dutch major said that the Follow This resolution, which asks Shell to set and publish targets consistent with the goals of the Paris climate agreement, is “redundant” given its own “more comprehensive strategy,” according to a company notice...
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  Mentions: Investment ConocoPhillips Bloomberg
14. Activists Get Their Moment in Japan With $20 Billion Toshiba Bid
  
  Explore BNN Bloomberg Apr 7 2021 BoardNews
  
  (Bloomberg) -- The surprise takeover bid for Toshiba Corp. is a palpable demonstration of the growing influence in corporate Japan of activist investors, who have gone from largely impotent onlookers to kingmakers in the space of just a few years. The offer from CVC Capital Partners, while still in the early stages, comes just weeks after Toshiba Chief Executive Officer Nobuaki Kurumatani lost a landmark shareholder vote, forcing an independent investigation into alleged issues with voting at its annual general meeting last year. That loss has piled pressure on Kurumatani, who barely won re-election at last year’s meeting and is ...
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  Mentions: Investment Management Takeover Bid
15. Exxon Activist Reveals High $30 Million Cost of Boardroom Battle
  
  Explore BNN Bloomberg Mar 18 2021 BoardNews
  
  (Bloomberg) -- Waging a boardroom battle at Exxon Mobil Corp. comes with a hefty price tag, as first-time activist investor Engine No. 1 is finding out. The San Francisco-based hedge fund said in a regulatory filing this week that it expects its proxy fight at Exxon to cost roughly $30 million. While that isn’t an unusually high number for a fight of this magnitude, it does amount to more than half of the current value of Engine No. 1’s $54 million stake in the largest U.S. oil and gas producer...
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  Mentions: Hedge Fund Proxy Fight stake
16. Japan's Most Famous Activist Investor Steps Up Takeover Battle With Carlyle - Bnn
  
  Explore BNN Bloomberg Feb 9 2021 BoardNews
  
  (Bloomberg) -- Japan’s most famous activist investor jumped back into the spotlight in 2021, taking on a global private equity giant over one company and scoring a lucrative exit at another. Yoshiaki Murakami has been locked in a battle with Carlyle Group Inc. over energy and environmental firm Japan Asia Group Ltd., pushing the investing behemoth to double its takeover price and then trumping that offer...
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  Mentions: Takeover Japan Carlyle
17. Exxon Is Said to Be in Talks With D.E. Shaw Over New Directors
  
  Explore BNN Bloomberg Feb 1 2021 BoardNews
  
  (Bloomberg) -- Exxon Mobil Corp. is expected to announce board changes as soon as Tuesday, and talks are continuing with investor D.E. Shaw & Co. that may lead to additional director nominations in the weeks ahead, according to people familiar with the matter. D.E. Shaw met with representatives from the oil giant on Friday and presented a list of potential directors, the people said, asking not to be identified because the discussions are private...
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  Mentions: Bloomberg stock options Marathon Petroleum
18. Marathon Oil Shrinks CEO Pay 25% While Aiming for Emissions Cuts
  
  Explore BNN Bloomberg Jan 28 2021 BoardNews
  
  (Bloomberg) -- Marathon Oil Corp. took a rare step among independent shale explorers by cutting executive compensation and boosting anti-pollution targets. Such measures have become increasingly common among the top tier of major oil companies as management teams seek to allay investors concerned about environmental impacts, social issues and corporate governance...
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19. AT&T Holds Exclusive Talks to Sell DirecTV Stake to TPG
  
  Explore BNN Bloomberg Jan 22 2021 BoardNews
  
  (Bloomberg) -- AT&T Inc. is holding exclusive talks to sell a significant stake in DirecTV to private equity firm TPG, the latest stage of a monthslong push to unload at least part of the struggling pay-TV business, according to a person familiar with the matter. A potential deal is weeks away, and the talks could still fall apart, said the person, who asked not to be identified because the deliberations are private...
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  Mentions: Management Citigroup stake
20. Bank Critic Gets His Chance as Wall Street’s New Senate Overseer
  
  Explore BNN Bloomberg Jan 8 2021 BoardBlogs
  
  (Bloomberg) -- Sherrod Brown, Wall Street’s likely new overseer in a Democratic-led Senate, is no fan of big banks -- though the industry is counting on the near deadlock in the chamber to forestall any sweeping legislative efforts to rein in lenders...
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  Mentions: Barclays Janet Yellen Main Street
21. Paid Sick Time Becomes Key Issue for Investors This Proxy Season -
  
  Explore BNN Bloomberg Dec 17 2020 BoardNews
  
  (Bloomberg) -- A group of investors including Domini Impact Investments and Trillium Asset Management are pressing retailers and restaurant operators to provide more information about the paid sick leave they provide for their workers, citing their heightened risk of contracting Covid-19. Letting employees quarantine and recover at home -- while receiving pay -- will help companies prevent outbreaks and store closures, the group said in a statement on Thursday...
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22. Vanguard to Push Companies on Racial Diversity Next Year
  
  Explore BNN Bloomberg Dec 15 2020 BoardNews
  
  (Bloomberg) -- Vanguard Group Inc. said it plans to vote against company directors who fail to push for greater racial and gender diversity on their boards. The money manager, which oversees $6.3 trillion, acknowledged that corporations are in the early stages of developing their boardroom diversity strategies, and that regional differences and regulations need to be considered...
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  Mentions: State Street Vanguard Bloomberg
23. Are Exxon’s New Emissions Targets Enough for BlackRock?
  
  Explore BNN Bloomberg Dec 14 2020 BoardBlogs
  
  (Bloomberg Opinion) -- It is possible, of course, that Exxon Mobil Corp.’s Monday-morning announcement of new emissions targets has nothing to do with the recent arrival of an activist shareholder calling for a more sustainable strategy at the oil major. Exxon took the trouble to say “the plan is the result of several months of detailed analysis,” and, with 2020 targets about to be yesterday’s news, an update of some sort was due in the near future...
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  Mentions: Opinion Bloomberg Exxon Mobil
24. S&P Global’s $39 Billion Deal Marks Data’s Dominance in Markets
  
  Explore BNN Bloomberg Nov 30 2020 BoardBlogs
  
  (Bloomberg) -- S&P Global Inc. grew out of a firm that provided bond ratings and railroad data. IHS Markit Ltd. traces its roots to a British barn and an effort to offer prices for the opaque world of credit derivatives. Now, the second-biggest acquisition of 2020 will combine the two into a data Goliath that tracks everything from the price of wheat to the movements of hundreds of thousands of ships criss-crossing the world’s oceans...
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  Mentions: acquisition Bloomberg London Stock Exchange
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