Citigroup to Cut Bonuses for Top Executives After Regulatory Lapses
Citigroup is set to cut bonuses for top executives following fines for risk management lapses by US regulators last year...
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Articles in category: BoardNews
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European Firms Improve Diversity Scores in Pandemic Year, Study Finds
Read Full Article(Reuters) - The number of major European companies with high participation of women in leadership positions has doubled over the past year, but there was less progress on top jobs, a study by a EU-sponsored non-profit organization showed on Thursday...
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Starboard Seeks to Take Control of Corteva Board, Oust CEO
Read Full Article(Reuters) - Starboard LP is planning to take control of agricultural company Corteva Inc's board and replace its Chief Executive Officer Jim Collins, the Wall Street Journal reported late on Wednesday, citing people familiar with the matter. https://on.wsj.com/35ZmERY The activist investor has privately nominated eight directors to Corteva's 12-person board, the Journal reported, adding that Starboard is aiming to oust Collins over 'mediocre performance'...
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Former Ripple Board Member Tapped to Lead Biden’s Occ:
Read Full ArticleMichael S. Barr, a former U.S. Treasury Department official and onetime member of Ripple’s board of advisers, is likely to become the next Comptroller of the Currency, the Wall Street Journal reported Wednesday. If named and confirmed by the U.S. Senate, Barr will succeed Brian Brooks, the former Coinbase executive who served as Acting Comptroller for the last half of 2020. Barr is currently a dean at the University of Michigan Ford School of Public Policy...
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Disney Nixes Bonuses for Top Executives as It Details 2020 Compensation
Read Full ArticleThe Walt Disney Co. has disclosed the executive compensation for CEO Bob Chapek and executive chairman Bob Iger for the company's latest fiscal year, which ended on Oct. 3...
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Office Depot Has Reportedly Rejected Staples' Offer to Buy it for $2.1 Billion
Read Full Article- Staples' offer to buy Office Depot for $2.1 billion has been rejected, The Wall Street Journal reported.
- Office Depot's parent company said it would prefer a partial sale or joint venture.
- This is the third time Staples has tried to buy its office-supplies rival in 25 years...
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Activist Fund Bluebell Capital Takes Aim at Danone
Read Full ArticleFrench group under pressure to replace chief executive over ‘disappointing’ share price...
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Danone Shares Rise as Activist Investor Starts Piling on the Pressure
Read Full ArticleA London-based activist investor is calling for Danone to replace its chairman and chief executive Emmanuel Faber, following what it says has been a “disappointing” share-price performance under his leadership at the multinational food and drinks group...
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Biden Picks Chopra, Gensler for Financial Oversight Roles
Read Full ArticleWASHINGTON (AP) — President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, a commissioner at the Federal Trade Commission, helped launch the agency after the 2008 financial crisis and served as deputy director, where he sounded the alarm about skyrocketing levels of student loan debt...
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Samsung Heir Lee Jae-yong Imprisoned Again
Read Full ArticleA Seoul court on Monday sentenced Samsung heir Lee Jae-yong to 2 1/2 years in prison in a retrial of a bribery case involving former President Park Geun-hye and ordered him returned to prison. Choi Ji-sung and Jang Choong-ki, two former ranking Samsung executives, received the same sentence...
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GameStop Leaders Pocket Millions on Way Out After Record Week
Read Full Article(Bloomberg) -- GameStop Corp.’s record week saw shares double after activist investor and Chewy Inc. co-founder Ryan Cohen was added to the Board -- and now leaders of the video-game retailer are cashing in millions before heading for the door.
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Ghosn Hid Part of Nissan Salary, Fearing Being Forced Out of Renault, Tokyo Court Told
Read Full ArticleTOKYO (Reuters) - Carlos Ghosn hid part of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker told a Tokyo court on Thursday...
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Kodak Director Makes Retroactive Cut to Huge Charity Stock Gift
Read Full ArticleAn Eastman Kodak Co. director appears to have cut the size of his large and well-timed donation of Kodak stock to a religious charity, which came amid a sharp surge in the company’s stock price last year, according to a new securities filing...
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Prosecutors Say Wealth, Fame Motivated Theranos Founder Elizabeth Holmes’s Alleged Crimes
Read Full ArticleBefore blood-testing company Theranos Inc. collapsed, founder Elizabeth Holmes was the darling of Silicon Valley’s startup world. She graced magazine covers, drew comparisons with Apple Inc. co-founder Steve Jobs, and, for a while, sat on a fortune valued at $4.5 billion...
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Veeva Becomes First Public Company to Convert to a Public Benefit Corporation
Read Full ArticleBARCELONA, Spain--(BUSINESS WIRE)-- Veeva Systems(NYSE: VEEV) announced that in an overwhelming majority vote, 99% of voting shareholders support the company’s proposal to become a public benefit corporation (PBC), including the vast majority of Veeva’s largest shareholders...
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Intel Ousts CEO Bob Swan
Read Full ArticleIntel Corp. ousted its chief executive in a surprise move that pivots the semiconductor giant closer to its engineering roots after a period of technology missteps, market-share losses and pressure from a hedge fund...
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Pat Gelsinger Seeks to Rescue Intel in 'biggest return of a prodigal son since Steve Jobs went back to Apple'
Read Full ArticlePat Gelsinger left Intel Corp. more than a decade ago, when it was clear he would not become CEO after 30 years at the company. On Wednesday, he finally got his dream job, but faces quite a task in returning the chip giant to the glory days of which he was a part...
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GameStop Surges After Board Overhaul
Read Full ArticleWe want to take a look at GameStop because GameStop shares soaring today, closing up just around 57%-- you can see it there on the screen-- after hours, though, under a little bit of pressure. But the big story today was the new board members and the holiday sales. And Wall Street was clearly very excited about that, with the day's gains up over 50%...
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Biden Is Expected to Name Gary Gensler for SEC Chairman
Read Full ArticleWASHINGTON -- President-elect Joe Biden is expected to choose Gary Gensler, a former financial regulator and Goldman Sachs Group Inc. executive, to head the Securities and Exchange Commission, according to people familiar with the decision...
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Cash Piles, Hostile Bids Set Stage for a Wild Japan M&A Year
Read Full Article(Bloomberg) -- Japanese dealmaking was resurgent in the second half of 2020, with acquisitions dropping only slightly from 2019 to about $140 billion after the pandemic depressed deals in the first half of the year...
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Dow, Marriott Lead Boardroom Backlash on Congress Vote Objectors
Read Full Article(Bloomberg) -- Major U.S. corporations are punishing Republicans in Congress who tried to overturn President-elect Joe Biden’s electoral victory, vowing to pull their campaign contributions after a right-wing mob stormed the U.S. Capitol last week. The rapid retreat of financial support played out in an unprecedented series of announcements that began last week and picked up critical mass over the weekend and on Monday...
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U.S. Companies Revamp Bonus Plans as Pandemic Upends Forecasts
Read Full ArticleSome boards are scrapping existing formulas and instead using their judgment to set annual incentives...
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German Board Gender Quotas Get Go-Ahead
Read Full ArticleGermany's cabinet yesterday approved federal legislation to force larger listed companies to have at least one woman on their management boards, following years of debate over the issue. O f the largest roughly 100 listed companies in Germany, women accounted for only 11.5pc of board seats. The German legislation also sets out stricter gender equality rules for government-controlled companies, where boards with more than two members will have to have at least one woman on them...
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HSBC Shareholders Ask Bank to Cut Fossil-Fuel Lending Exposure
Read Full ArticleA group of HSBC Holdings Plc shareholders have filed a resolution urging the bank to cut its support to the fossil-fuel industry...
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