1. Articles in category: BoardNews

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    1. Disney to Lay off 28,000 Workers at Domestic Theme Parks

      Disney to Lay off 28,000 Workers at Domestic Theme Parks

      The COVID-19 pandemic has brought substantial layoffs to Walt Disney Co.'s massive theme park operations and other units. The Burbank-based company said Tuesday that it would lay off 28,000 domestic employees at its parks, experiences and products division, which includes Disneyland Resort and Disney California Adventure Park in Anaheim and Walt Disney World in Orlando, Fla...

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    2. Activist Litt Files for Shareholder Vote on Aimco Split

      Activist Litt Files for Shareholder Vote on Aimco Split

      Activist investor Jonathan Litt filed with regulators Tuesday to call a special meeting at Apartment Investment & Management Co. so shareholders can have a say on its plans to split its business into two parts. The move to seek support for a vote comes after Aimco ignored the investor’s request to hold a shareholder vote on the matter, which will see the company broken up into a real estate investment trust and a development company...

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    3. LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement

      LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement
      • LVMH countersued Tiffany on Monday, and said it remains confident that it can walk away from its $16 billion takeover of the US jeweler.
      • Tiffany breached the agreement by paying out the highest possible dividends during the pandemic, French luxury goods conglomerate LVMH claimed in the countersuit.
      • A letter to LVMH from the French government also made it “impossible” to close the deal before the deadline, it added...
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    4. Nissan Employee Testifies Against American on Trial in Japan

      Nissan Employee Testifies Against American on Trial in Japan

      TOKYO - A Nissan employee testified Tuesday that he worked with another former Nissan executive, American Greg Kelly to find ways to pay the automaker’s former chairman, Carlos Ghosn without fully disclosing his compensation. Toshiaki Ohnuma, a star witnesses for the prosecution, described to the Tokyo District Court his job in human resources at Nissan Motor Co., where he said he handled executive compensation matters...

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    5. Billionaire Investor Peltz out as Special Advisor at Aurora

      Billionaire Investor Peltz out as Special Advisor at Aurora

      Billionaire investor Nelson Peltz ​resigns as Aurora advisor Billionaire activist investor Nelson Peltz is out as senior advisor to Aurora Cannabis , resigning to pursue other commitments. Peltz first joined Aurora in March 2019 under a senior advisory services agreement where he was tasked with helping the company devise a strategy to marry its cannabis business with the U.S. consumer market...

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    6. Alphabet Settles Shareholder Lawsuit Over Alleged Mishandling of Sexual Misconduct by Execs

      Alphabet Settles Shareholder Lawsuit Over Alleged Mishandling of Sexual Misconduct by Execs

      Alphabet has reached a settlement on a shareholder lawsuit that accused the board of allegedly mishandling sexual misconduct by its executives. Execs will not be able to receive severance or amend their stock sale plans while they are while they are subject to investigations or a lawsuit for sexual misconduct, according to a summary of the settlement provided by the plaintiffs’ attorneys...

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    7. Toshiba Urged to Launch Panel over Vote-Counting Error

      Toshiba Urged to Launch Panel over Vote-Counting Error

      Tokyo, Sept. 25 (Jiji Press)--Toshiba Corp.'s top shareholder has asked the machinery and electronics maker to set up a third-party panel to examine an error in vote-counting for a general shareholders meeting, it was learned Friday. The top shareholder, Effissimo Capital Management Pte., set up by former colleagues of activist investor Yoshiaki Murakami, made the request in a letter to Toshiba, dated Wednesday...

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    8. Wells Fargo CEO Sorry for 'insensitive comment' on Diversity

      Wells Fargo CEO Sorry for 'insensitive comment' on Diversity

      Wells Fargo & Co Chief Executive Officer Charles Scharf has apologized for making insensitive remarks around race and diversity, seeking to quell a row over his references to a shortage of talent among minority groups. Reuters reported on Tuesday that Scharf had exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there were not enough qualified minority candidates...

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    9. Wells Fargo CEO: ‘Limited pool of black talent to recruit from’

      Wells Fargo CEO: ‘Limited pool of black talent to recruit from’

      Wells Fargo chief executive Charles Scharf exasperated some black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there was not enough qualified minority talent, two participants told Reuters. He also made the assertion in a company-wide memo June 18 that announced diversity initiatives as nationwide protests broke out following the death of George Floyd , an unarmed African American man, in police custody...

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    10. BlackRock, JPMorgan Climate Votes at Odds as New Rules Loom

      BlackRock, JPMorgan Climate Votes at Odds as New Rules Loom

      Top U.S. asset managers BlackRock Inc and JPMorgan Chase & Co were divided in their support of climate-related proxy resolutions at corporate meetings this year, two analyses showed on Tuesday, underscoring the industry's mixed appetite for the vehicles ahead of a key rulemaking. Both studies - done by climate-focused shareholder organizations - found BlackRock continued to offer little backing to resolutions asking companies for steps like setting emissions targets or lobbying reports...

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