BoardNews -BoardProspects

Articles in category: BoardNews

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1. Group of Top CEOs says Maximizing Shareholder Profits No Longer can be the Primary Goal of Corporations
  
  Explore The Washington Post 10 hours, 2 min ago BoardNews
  
  The new statement, released Monday by the Business Roundtable -- whose members are CEOs of America’s largest companies -- suggests balancing the needs of a company’s various constituencies and comes at a time of widening income inequality, rising expectations for corporate behavior and proposals from Democratic lawmakers that aim to restructure American capitalism...
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  Mentions: Jamie Dimon Shareholder Primacy maximizing shareholder profits
2. Boston-Based General Electric Suffers Worst Stock Drop In 11 Years
  
  Explore CBS Boston Aug 16 2019 BoardNews
  
  General Electric fought back Thursday night after the company was accused of fraud and its stock experienced its worst one-day percentage drop since April 2008. General Electric shares plunged more than 11% Thursday after Harry Markopolos, who is famous for blowing the whistle on Bernie Madoff’s Ponzi scheme in 2008, accused GE of orchestrating a massive fraud. GE CEO Larry Culp on Thursday bought 252,200 shares at $7.93 per share, a purchase worth almost $2 million, according to an SEC filing...
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  Mentions: General Electric Harry Markopolos Larry Culp
3. GE’s Stock Plunged After Madoff Whistleblower Alleged “Accounting Fraud”
  
  Explore fortune.com Aug 16 2019 BoardNews
  
  General Electric Co. tumbled the most since 2008 after a prominent financial examiner working with a short seller accused the company of “accounting fraud.” GE Chief Executive Officer Larry Culp called the claims “market manipulation—pure and simple.”...
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  Mentions: Fraud General Electric
4. Cathay Pacific CEO Resigns Amid Beijing Pressure
  
  Explore The Washington Post Aug 16 2019 BoardNews
  
  It came after the firing of two Cathay Pacific pilots previously suspended for their role in the Hong Kong protests.
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5. Burford Capital to Overhaul Board and Seek US Listing as it Fights Back Against US Hedge Fund
  
  Explore Proactive Investors Aug 16 2019 BoardNews
  
  Burford Capital PLC (LON:BUR) is to overhaul its board in a bid to appease investors after it was accused of poor corporate governance and ...
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  Mentions: Hedge Fund Buford Capital
6. Care.com Needs Supervision
  
  Explore wsj.com Aug 15 2019 BoardNews
  
  Activist investor calls for Care.com to consider a sale, but even that may not be enough to restore parents’ lost trust Care.com’s days as an independent matchmaker could be limited. New York-based activist investor Engine Capital L.P. is calling for the company to explore a sale in the wake of The Wall Street Journal’s March investigation which showed it provided limited vetting of its caregivers, sometimes with tragic results...
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  Mentions: Activist Investors Care.com
7. Bill Ackman’s Takes an Interest in Warren Buffet’s Business
  
  Explore Home Aug 15 2019 BoardNews
  
  Bill Ackman’s hedge fund, Pershing Square, has taken a stake in Berkshire Hathaway, adding a rare activist investor to Warren Buffett’s shareholder register...
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  Mentions: Activist Investors Bill Ackman Berkshire Hathaway
8. Overstock Shares Tumble 36% After CEO’s Comment on the ‘Deep State’ and the Clintons
  
  Explore fortune.com Aug 15 2019 BoardNews
  
  Overstock shares fell for a third day Wednesday as investors reacted to statements by Chief Executive Officer Patrick Byrne that he was a part of federal investigations related to the 2016 election...
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9. CEOs Rake in 940% More than 40 Years Ago, Workers Earn 12%
  
  Explore Breaking News Headlines Aug 14 2019 BoardNews
  
  What CEOs earn at America's biggest companies CEO compensation rose 940% from 1978 to 2018, compared with a 12% rise in pay for the average American worker during the same period, according to the Economic Policy Institute. In 2018, average CEO pay at the 350 biggest U.S. companies was $17.2 million...
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  Mentions: Executive Compensation
10. WeWork Doesn’t Have a Single Woman Director, According to IPO Filing
  
  Explore CNBC.com Aug 14 2019 BoardNews
  
  It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. Among the seven members, not a single one is female. The company was most-recently valued privately at $47 billion although it’s unclear if they’ll receive the same price tag from the public markets...
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  Mentions: Board Diversity IPO WeWork
11. WeWork's Founder and CEO Didn't Take a Salary Last Year as the Company Prepared for its Massive IPO
  
  Explore Business Insider Aug 14 2019 BoardNews
  WeWork's CEO was paid nothing in 2018, the company said in its initial public offering filing on Wednesday.
  
  Adam Neumann is worth an estimated $4.1 billion after founding the company a decade ago.
  
  WeWork, the $47 billion co-working company, is going public. Here's everything we know about what's going on.
  
  Adam Neumann, the billionaire Israeli businessman and founder of WeWork, didn't take a salary in 2018, the company said Wednesday...
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  Mentions: Executive Compensation IPO WeWork
12. CBS and Viacom Reach Merger Deal
  
  Explore CNBC.com Aug 13 2019 BoardNews
  
  The merger highlights a long effort to unite CBS and Viacom as the media companies seek to compete with giants like Disney...
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13. Third Point Cuts United Technologies Stake After Opposing Raytheon Deal
  
  Explore Channel NewsAsia Aug 13 2019 BoardNews
  
  BOSTON: Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp , becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support. The New York-based firm sold 480,000 shares of United Technologies stock during the second quarter, cutting its holding by 7 percent to 6 million shares, according to a regulatory filing made on Tuesday...
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  Mentions: Activist Investors Dan Loeb Third Point
14. A $750 Billion Fund Group Targets the Midwest's White Male Boards
  
  Explore Cleveland Business News Aug 13 2019 BoardNews
  
  For the last five years, the national conversation about the lack of women or people of color on U.S. corporate boards has focused on the world's biggest companies, with tangible results: Last month, for the first time, every company in the S&P 500 had at least one female director...
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  Mentions: Board Diversity
15. Tumblr, Once Yahoo’s $1.1 Billion Baby, to Sell for Under $20 Million to WordPress Owner Automattic, Reports Say
  
  Explore fortune.com Aug 13 2019 BoardNews
  
  Verizon will sell the image-centric blogging website Tumblr to Automattic, owner of the blogging tools suite WordPress, according to the Wall Street Journal. The terms of the sale were not disclosed, but Axios reports the amount was "well below" $20 million...
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  Mentions: Yahoo Tumblr
16. Fourth NRA board of directors member resigns
  
  Explore usatoday.com Aug 13 2019 BoardNews
  
  WASHINGTON – A fourth member of the National Rifle Association's Board of Directors resigned Monday, as turmoil within the gun-rights group ...
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  Mentions: National Rifle Association Julie Golob
17. Taco Bell-Parent Yum Brands' CEO Greg Creed to Retire, to be Replaced by David Gibbs
  
  Explore CNBC.com Aug 12 2019 BoardNews
  
  Taco Bell's parent company Yum Brands on Monday said David Gibbs has been tapped as CEO, effective Jan. 1, 2020. Gibbs will be succeeding Greg Creed, who has been with Yum for 25 years...
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  Mentions: Yum! Brands
18. Cloudera and Carl Icahn Agree to Peace. The Stock Tumbles.
  
  Explore Financial Investment News Aug 12 2019 BoardNews
  
  Cloudera this morning said it reached a standstill agreement with investor Carl Icahn, granting the corporate raider two board seats. Icahn affiliates hold a total of about 18.4% of Cloudera’s common stock, about 50.3 million shares, a stake worth a little over $300 million...
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  Mentions: Activist Investors Carl Icahn Cloudera
19. PG&E Board of Directors' Statement Regarding Shareholder Financing Proposal
  
  Explore Google Aug 10 2019 BoardNews
  
  The Board of Directors (the “Board”) of PG&E Corporation (PCG) (“PG&E” or the “Company”) today issued the following statement in response to the ...
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20. Goldman Activism Defense Chief Joins Activist Investor Elliott
  
  Explore Yahoo! Finance Aug 9 2019 BoardNews
  
  (Bloomberg) -- Goldman Sachs Group Inc.’s top activism banker Steven Barg is joining the New York hedge fund Elliott Management Corp., one of the main firms he used to defend companies against, according to an internal memo obtained by Bloomberg. Barg will join the firm as its new global head of corporate engagement, the memo states...
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  Mentions: Activist Investors Elliott Management Steven Barg
21. California Sued Over Law Requiring Women on Corporate Boards
  
  Explore Los Angeles Daily News Aug 9 2019 BoardNews
  
  California’s first-in-the-nation law mandating women on boards of publicly held companies is facing what appears to be its first legal challenge. Judicial Watch, a Washington-based conservative activist group, said in a lawsuit filed this week on behalf of three California taxpayers that spending taxpayer money enforcing the law is illegal under the California constitution...
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  Mentions: Board Diversity board quotas California
22. Investor Litt Calls for Removal of Hudson's Bay Chairman
  
  Explore kitco.com Aug 8 2019 BoardNews
  
  (Reuters) - Activist shareholder Jonathan Litt on Thursday called for the removal of Canadian retailer Hudson’s Bay Co ( HBC.TO ) Chairman Richard Baker from the board...
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  Mentions: Activist Investors Hudson Bay Corporation Jonathan Litt
23. Novartis C.E.O. Defends Company’s Decision to Withhold False Data From the F.D.A.
  
  Explore The New York Times Aug 8 2019 BoardNews
  
  Responding to the agency’s stern rebuke, Vas Narasimhan, the company’s executive, tried to reassure investors that Novartis did not intentionally deceive the F.D.A. while seeking approval for its $2.1 million gene therapy ...
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  Mentions: Novartis Vas Narasimhan
24. Saltstone Capital Management Calls for Special Committee of Board of Abraxas to Review Strategic Alternatives
  
  Explore businesswire.com Aug 8 2019 BoardNews
  
  The lack of oversight by the Board of Directors could, we guess, be understandable given no member of the Board has a significant ownership position ...
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  Mentions: Abraxas Petroleum Saltstone Capital
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