Icahn calls for new leadership at Xerox close breaking news Business Icahn calls for new leadership at Xerox Activist investor Carl Icahn on Tuesday called for new leadership at Xerox Corp , the maker of printers and copiers, a day after he named four nominees to the company's board of directors. FILE PHOTO: The logo of Xerox company is seen on a building in Minsk, Belarus, March 21, 2016. REUTERS/Vasily Fedosenko/File Photo 2 related media assets (image or videos) available.

When its CEO learnt of its financial losses, he went on a collision course with the board. Inside the Storm looks at what went wrong and how Olympus recovered...

FRANKFURT: VEON named former Xerox chief Ursula Burns as its chairwoman on Monday, as the telecoms operator undertakes corporate governance reforms and a makeover as a global online services company. Alexey Reznikovich, VEON's long-serving chairman, will remain on the board as a representative of LetterOne Investment, the company formerly known as VimpelCom said...

REUTERS: Activist investor Jana Partners LLC cashed out of its position in Whole Foods Market Inc, a regulatory filing showed on Wednesday, after the upscale grocer agreed to be acquired by Amazon.com Inc in a US$13.7 billion deal last month. Jana, which was Whole Foods' second-largest shareholder with an 8.2 percent stake, made a profit of over US$300 million on the sale, according to Reuters calculations...

REUTERS: Activist hedge fund Elliott Management released the private letter written by Arconic Inc's former chief executive, Klaus Kleinfeld, which consequently led to his resignation, and their response to the letter and Arconic's statement on April 17. Elliott said late on Wednesday that Arconic had created a "public frenzy" for further information and that it had no choice but to make the letter and their response public.

An investor committee that advises the U.S. Securities and Exchange Commission will next week review if Snap Inc's decision to deny shareholders voting rights might also reduce the social media company's public disclosures on executive pay and other governance matters, the head of that committee told Reuters on Wednesday...

International Business SAP CEO McDermott overtakes Daimler's Zetsche in 2016 pay SAP Chief Executive Bill McDermott's total pay last year jumped to 15.6 million euros (US$16.5 million), overtaking that of Daimler CEO Dieter Zetsche, Germany's best-paid company executive in 2015...

A BOSTON/WASHINGTON: Wall Street lawyer Jay Clayton, who has worked on high-profile initial public offerings such as Alibaba Group, is a leading candidate to head the U.S. Securities and Exchange Commission in the Trump administration, two sources familiar with the matter said on Tuesday. Clayton is a partner at Sullivan & Cromwell who specializes in public and private mergers and offerings, an area that requires expertise on complex securities regulations and corporate governance...

International Business Icahn regulatory role gives activist investors strong Washington voice U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest voice of the bunch will have the ear of the next president and his securities' rule makers...

Chipotle Mexican Grill Inc, under pressure from activist investor Bill Ackman, appointed four more members to its board, including one from Ackman's Pershing Square Capital Management ...

Apple Inc's board relaxed some rules for director nominations by outside investors but stopped short of broader changes sought by an activist shareholder...

SEOUL: Samsung Electronics Co Ltd said it will disclose plans to boost shareholder value on Tuesday: a move that comes amid pressure from U.S. fund Elliott Management to split the company in two and provide more in payouts. The U.S. activist hedge fund, which owns 0.6 percent of Samsung, called on the South Korean tech giant in October to divide itself into a holding vehicle for ownership purposes and an operating company, as well as pay out 30 trillion won (US$26 billion) in a special dividend...

A FRANKFURT/HAMBURG: Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the "Dieselgate" scandal. Volkswagen Group denies that the kind of internal rivalry that it encouraged at the Le Mans 24 hour race is getting out of hand in the boardroom...

The arrest of Hexagon chief executive Ola Rollen, one of Sweden's most successful CEOs, on suspicion of insider trading could not only threaten the company's standing but also the business reputation of the country. 20 Ola Rollen, Chief executive of the Swedish engineering group Hexagon AB gestures during a news conference in Zurich, Switzerland, June 13, 2005...

The U.S. Securities and Exchange Commission has released a collection of internal voting records, long held secret, that reveal it to be less divided than is commonly thought. The new data reveal that the agency's commissioners vote unanimously almost every time they take companies and executives to federal court ...

Independent directors are playing a bigger role on company boards in Singapore, and more women are joining the boardroom as directors, according to the latest Singapore Directorship Report released on Tuesday (Oct 18). The report, put together by the Singapore Institute of Directors (SID) and the Institute of Singapore Chartered Accountants (ISCA), showed that 62 per cent of local firms have independent directors forming at least half of the board, up from 55 per cent in 2014...

Wells Fargo & Co's board hired law firm Shearman & Sterling LLP to advise on executive compensation and potential clawbacks, the Wall Street Journal reported, citing people familiar with the matter. Robert Mundheim, a lawyer at the firm, is advising the bank's board on whether it should claw back pay of Chief Executive John Stumpf, Chief Operating Officer Timothy Sloan and former retail banking head Carrie Tolstedt, according to the WSJ report ...

SpringOwl, a roughly US$300 million fund managed by activist investor Jason Ader, is pushing Yahoo to cut costs and bring in a strategic partner such as Liberty Media to help deal with tax issues. SpingOwl has not revealed the size of its stake in Yahoo.

The planned sale also comes as AIG faces pressure from billionaire activist investor Carl Icahn to split the company into three.. AIG is offering between 355 million and 365 million PICC P&C shares in a range of HKUS$16.08-HKUS$16.38 each, a term sheet of ...

PARIS: Renault is drawing up proposals to relinquish some power over alliance partner Nissan, sources said, and will on Monday begin shoring up boardroom support in the final days before a likely clash with the French government. Renault remains on ...

CalSTRS is a influential activist shareholder and has supported calls for the end of dual-class structures at other companies, but it has not previously focused on Viacom. Mike McCauley, senior officer at the Florida State Board of Administration ...

BlackRock Inc chief Larry Fink has asked the top executives of the 500 largest publicly listed U.S. companies urging them to take a long-term approach to create value for shareholders or risk losing his firm's support...

CEOs at large U.S. companies collectively realized at least US$6 billion more in compensation than initially estimated in annual disclosures in the five years after the financial crisis first hit, according to a Reuters analysis. The reason for the windfall: the soaring value of their stock awards....

Securities and Exchange Commission Chair Mary Jo White told lawmakers on Tuesday the agency would not try anew to craft rules to make it easier for shareholders to nominate corporate directors but that she was closely watching activists' attempts to do just that...