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...
Twitter co-founder and former chief executive Ev Williams is stepping down from the company's board of directors , according to a company filing with ...
(Reuters) - Kimmeridge Energy Management Company on Friday announced a stake in PDC Energy Inc and called on the Denver-based oil and gas producer to cut costs and return more cash to shareholders. In response, PDC Energy said it continued to focus on capital discipline and executing its operational and financial goals, and would update shareholders on its plans when it releases its 2018 earnings on Feb. 28...
Fir Tree Capital Management LP ("Fir Tree"), manager of certain funds that together have economic exposure to approximately 7.2% of the common stock of Halcón Resources Corporation ("Halcón" or "the Company") (NYSE: HK ), today issued the following statement regarding the Company’s February 21 st announcement of management and board changes, including the departure of Chief Executive Officer, President, and Director Floyd C. Wilson, and commitment to reduce G&A costs: “We are encouraged that Halcón is following our recommendations by enacting changes at the senior management and board level and significantly reducing G&A – with ...
Starboard stated that it expects that five of the Company's nine current ... and the Board and its Nominating/ Corporate Governance Committee will ...
Newell Brands Inc. NWL -0.92% Chief Executive Michael Polk is under pressure from the board of directors to prove his turnaround is working following several disappointing quarters of sales at the household-goods conglomerate, according to people familiar with the matter...
(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...
Former Renault and Nissan head Carlos Ghosn and his wife invited friends to a $260,000 Carnival party in Brazil last year and charged it to his employers, documents seen by AFP show, a move Ghosn's lawyer defended as a routine corporate function for a multinational CEO. News of the party is the latest evidence of Ghosn's ...
LONDON (Reuters) - Barclays hit back at its activist shareholder critic by reporting rising annual income at its investment bank but sounded a note of caution with a 150 million pound provision against possible losses due to Brexit. Barclays shares rose 3.5 percent on Thursday as investors looked past an annual profit of £3.5 billion that came in below expectations, focusing instead on progress in its investment bank where profit increased 15 percent...
LONDON (Reuters) - Britain's top companies face a red warning if they don't have more than one woman on their board, the Investment Association said on Thursday, adding to pressure for more female representation at top levels of management. The body which represents big asset managers said it was expanding its traffic light system which guides big investors on whether a company is complying with best practice in areas of governance such as executive pay...
A shareholder group that works with union-sponsored pension funds is proposing to put an employee on the board of Alphabet, Google's parent company...
Gannett's steeper losses and declining revenue reflect ongoing struggles in the publishing sector...
ALBANY — State University of New York Chancellor Kristina Johnson has made a priority of getting the 64-campus system she leads to adopt clean, renewable power sources. She was also paid more than a quarter-million dollars in 2017 as a director of AES Corp., a Virginia-based power company that operates a controversial coal plant in Puerto Rico, which local investigations suggest has created toxic waste nearby...
Activist investor Carl Icahn has a 9.8 percent stake in Caesars Entertainment and believes the casino operator should explore a sale, according to a Securities and Exchange Commission filing released Tuesday. The filing, which confirms previous reports that Icahn has taken a stake in the company, said: "Shareholder value might be best served, and enhanced, by selling the company." Caesars shares jumped to their highs of the day after the filing. They were up 4.1 percent as of 1:04 p.m. ET...
(Reuters) - Activist investor Edward Bramson's bid to join the Barclays board is destined to fail, shareholders told Reuters, though he has sharpened scrutiny of its investment banking strategy that Bramson argues has depressed profitability...
(Reuters) - Paul Elliott Singer, the hedge fund manager behind activist investor Elliott, has taken a 6.1 percent stake in Dutch trust and business administration company Intertrust, according to a filing published by the Dutch Authority for Financial Markets (AFM)...
Your announcement today that you will separate the roles of Chairman and CEO at some vague future date falls short of improved governance and ...
(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...
One of the largest shareholders in Barclays has cut its stake in the lender during a crucial period for the bank...
TOKYO/HONG KONG (Reuters) - Japanese share buybacks have hit a record this fiscal year and are set to maintain the booming growth as cash-rich companies bow to pressure from investors and the government to boost returns and improve governance. In recent weeks, SoftBank Group Corp, Sony, Itochu Corp and other companies have announced plans to buy back shares worth more than 1.3 trillion yen, bringing the total value of buybacks flagged since April 1 to over 6.5 trillion yen (£45.6 billion)...
(Reuters) - Activist hedge fund Starboard Value LP has asked a proxy solicitor to probe the level of support among Bristol-Myers Squibb Co shareholders for the U.S. drug maker's $74 billion (57 billion pounds) deal to buy Celgene Corp, people familiar with the matter said on Friday. The acquisition would be the biggest pharmaceuticals deal ever and would unite two major sellers of cancer drugs. Starboard has not decided whether it would oppose the Celgene deal, the sources said...