1. Articles from BLOOMBERG NEWS

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    1. Bed Bath & Beyond Spruces Up Its Board But Needs an Overhaul

      Bed Bath & Beyond Spruces Up Its Board But Needs an Overhaul

      (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
    2. Barclays Hits Back at Activist’s ‘Misleading’ Criticisms

      Barclays Hits Back at Activist’s ‘Misleading’ Criticisms

      (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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    3. TransAlta Board Nominees Win Glass Lewis Support Amid Proxy Threat

      TransAlta Board Nominees Win Glass Lewis Support Amid Proxy Threat

      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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    4. Verint Rejects Neuberger Berman's Call to Replace Directors

      Verint Rejects Neuberger Berman's Call to Replace Directors

      (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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    5. UBS Shareholders Urged to Reject Pay Proposal for Top Executives

      UBS Shareholders Urged to Reject Pay Proposal for Top Executives

      (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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    6. Carlos Ghosn Casts a Dark Shadow Over Corporate Japan

      Carlos Ghosn Casts a Dark Shadow Over Corporate Japan

      (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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    7. Barrick’s Deal-Making Chairman Awarded $12.9 Million in 2018

      Barrick’s Deal-Making Chairman Awarded $12.9 Million in 2018

      (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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    8. Mondelez in Advanced Talks for Campbell's Cookie Assets

      Mondelez in Advanced Talks for Campbell's Cookie Assets

      (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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    9. Nissan is Said to Have Paid Stanford Tuition for Ghosn Children

      Nissan is Said to Have Paid Stanford Tuition for Ghosn Children

      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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    10. Deutsche Bank U.S. Employees Said to Get Major Share of Bonuses

      Deutsche Bank U.S. Employees Said to Get Major Share of Bonuses

      (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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    11. Activist Investor Ubben Criticizes PG&E Board Selection Process

      Activist Investor Ubben Criticizes PG&E Board Selection Process

      (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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    12. TVA Chief Is Front-Runner for Bankrupt PG&E's Ceo Job

      TVA Chief Is Front-Runner for Bankrupt PG&E's Ceo Job

      (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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    13. Australia Is Pushing for More Women in Boardrooms

      Australia Is Pushing for More Women in Boardrooms

      (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
    14. Wall Street Regulators Could Take a Fresh Look at Bonuses

      Wall Street Regulators Could Take a Fresh Look at Bonuses

      (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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    15. Disney Cuts Iger's Future Compensation by $13.5 Million a Year

      Disney Cuts Iger's Future Compensation by $13.5 Million a Year

      (Bloomberg) -- Walt Disney Co. cut tens of millions of dollars of future potential earnings for Chief Executive Officer Bob Iger days before its annual meeting, where investors are set to vote on the entertainment giant’s executive pay program. Iger’s target annual compensation will be $35 million after the deal with Rupert Murdoch’s 21st Century Fox Inc. is completed, Disney said Monday in a regulatory filing. That’s 28 percent less than the initial $48.5 million target...

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    16. Vivendi Steps Up Pressure for Telecom Italia Board Shake-Up

      Vivendi Steps Up Pressure for Telecom Italia Board Shake-Up

      (Bloomberg) -- Vivendi SA has stepped up its campaign to shake up the board of Telecom Italia SpA at the phone carrier’s annual meeting next month and signaled more openness to various options regarding assets. In a 48-page document that outlines concerns with directors backed by Elliott Management Corp., Telecom Italia’s largest shareholder reiterated calls to replace five directors backed by Elliott with five proposed by the French media company...

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    17. Marchionne Gets US$54M in Pay and Perks for Year he Died

      Marchionne Gets US$54M in Pay and Perks for Year he Died

      Fiat Chrysler Automobile NV’s late Chief Executive Officer Sergio Marchionne received a total of US$54 million in cash compensation, perks and shares in 2018, the year of his sudden death. About US$42 million of Marchionne’s haul came from 2.8 million shares granted under a long-term award that was linked to performance metrics spanning several years. He also was paid a US$5.2 million bonus for 2017, and US$2.3 million in salary. He didn’t receive a bonus for last year...

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    18. European Investors Oppose CEO Pay More Than Vanguard, BlackRock

      European Investors Oppose CEO Pay More Than Vanguard, BlackRock

      (Bloomberg) -- Large asset managers oppose executive compensation plans at a higher rate than ever before, and European firms tend to reject CEO pay more often than their U.S. peers. Allianz Global Investors last year voted against about 75 percent of compensation packages awarded to executive teams of S&P 500 firms, and Dutch pension fund PGGM opposed 98 percent of the time, according to a report issued Thursday by As You Sow, a shareholder advocacy group...

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    19. Carlos Ghosn Readies Counterpunch With New ‘All-Star’ Defense Lawyers

      Carlos Ghosn Readies Counterpunch With New ‘All-Star’ Defense Lawyers

      (Bloomberg) -- Can Carlos Ghosn beat the rap? With a trial looming this year on charges of aggravated breach of trust and filing false statements to regulators regarding $80 million in deferred income, the former chairman of Nissan Motor Co. and Renault SA needs a new strategy. He’s lost two requests for bail and faces as many as 10 years in prison if convicted. Confronting a Japanese legal system with a 99 percent conviction rate, Ghosn overhauled his legal team last week...

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    20. Nestle Cuts the Meat in Bid to Build Healthier Food Giant

      Nestle Cuts the Meat in Bid to Build Healthier Food Giant

      (Bloomberg) -- Nestle SA put its ailing Herta lunch-meat business up for sale as Chief Executive Officer Mark Schneider tries to spark faster sales growth by transforming the world’s largest food company through acquisitions and divestments. The Swiss company’s shares rose as much as 3.7 percent to a record as it forecast improved sales and said that it expects to cede control of its dermatology unit by the middle of this year...

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    21. Norway Wealth Fund Steps Up Voting Against CEO Pay Packages

      Norway Wealth Fund Steps Up Voting Against CEO Pay Packages

      (Bloomberg) -- Norway’s $1 trillion wealth fund, the biggest of its kind, increased its votes against executive pay packages last year and said it engaged with companies in the auto sector on the use of cobalt. The fund had close to 1,500 “dialogues” with companies last year, but also divested 30 companies due to governance risks. It voted against 7.2 percent of resolutions on executive remuneration, up from 6.9 percent in 2017...

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    25-48 of 139 « 1 2 3 4 5 6 »
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