(Reuters) - A proposal made by an activist shareholder and opposed by Walmart Inc management asking the retailer to produce a report assessing the impact on its employees if the U.S. Supreme Court rolls back abortion rights was voted down on Wednesday at its annual general meeting...
(Reuters) - Long-time JPMorgan Chase & Co Chief Executive Jamie Dimon will find out on Tuesday how shareholders feel about a special $52.6 million stock option award he received to stay on for five more years, which is opposed by two key investor advisory firms. The extra award dished out in July was the most significant change in Dimon's annual pay, which faces a non-binding vote at the bank's online annual meeting...
Elon Musk speaking at the launch of the Tesla SUV (Getty Images) Elon Musk sold $4 bilion (£3.2 billion) worth of Tesla shares in the days after sealing a deal to buy Twitter , new filings show. Musk sold around 4 million shares in the electric car company he runs on Tuesday and Wednesday. On Monday, he had reached a deal with Twitter’s board to buy the social media company for $44 billion...
( BUSINESS WIRE )-- IQVIA (NYSE:IQV) today announced the appointment of Sheila A. Stamps to its board of directors, effective today. Ms. Stamps brings more than four decades of strategic, governance and operational management experience...
Vivienne Cox Dame Emma Walmsley , the chief executive of GlaxoSmithKline, has been given a boost in her battle against activist investors after one of her closest boardroom allies was handed a top honour for bolstering the company's diversity credentials. Vivienne Cox, a non-executive director at GSK, has been made a dame commander of the Order of the British Empire in the New Years Honours list after helping Dame Emma to promote more women and people from ethnic minorities into senior roles...
(Reuters) - Activist investor Jana Partners on Thursday disclosed an about 6.6% stake in Mercury Systems and said it would push the defense technology firm to consider options for its business, including a potential sale. Jana, which has built a reputation for working collaboratively and behind the scenes with target companies since Barry Rosenstein founded the firm two decades ago, said Mercury's shares were undervalued...
(Reuters) - GlaxoSmithKline on Wednesday named a genetics professor to its board, as it refocuses on its pharmaceuticals business following a planned separation of the consumer healthcare division next year, while looking to appease investors...
(Bloomberg) -- Abu Dhabi’s state energy company and OCI NV are selling a stake of as much as $830 million in their Middle Eastern fertilizer venture to buyers including a Singapore sovereign wealth fund and activist investor Jeff Ubben...
With Chinese real estate giant Evergrande teetering on the brink of collapse, the head of the US markets regulator said Tuesday the American financial system is better prepared than it was in 2008 to withstand the possible fallout from a major bankruptcy...
APPLE boss Tim Cook has landed a $750 million (£500 million) share windfall, the latest evidence that the wealth of the very richest American CEOs has boomed during the pandemic. The share award is part of a deal agreed last year that keeps him at the iPhone giant until 2026 and follows a 1200% rise in Apple shares since he succeeded Steve Jobs in 2011. His total wealth is put at $1.5 billion by Bloomberg , an amount that is but a fraction of what other tech bosses have accumulated...
(Reuters) - Eastman Kodak Co on Monday granted its executive chairman options for 1.75 million shares as the result of what a person familiar with the arrangement described as an "understanding" with its board that had previously neither been listed in his employment contract nor made public...
(Reuters) - Biotech firm Moderna Inc could reap tens of billions of dollars in sales and stock appreciation if it wins the race for a COVID-19 vaccine. If it loses, the early-stage company’s value could crash. In the meantime, the firm’s chief executive is pocketing millions of dollars every month by selling shares that have tripled in price on news of Moderna’s development progress, a Reuters analysis of corporate filings shows...
Tesla becomes world's most valuable carmaker without making a profit Rob Davies More Tesla has overhauled Japanese rival Toyota to become the world’s most valuable automotive company. Despite never having made a profit, the billionaire Elon Musk’s electric car manufacturer has been tipped by some pundits to achieve a valuation of more than $1tn (£800bn) as demand for electric vehicles soars...
Former Monarch airline owner Greybull Capital and hedge fund Elliott Management are the latest investors circling Virgin Atlantic as it seeks an emergency bailout. Sir Richard Branson's airline has been racing to secure financing since the COVID-19 pandemic grounded its fleet...
(Reuters) - American International Group Inc faces a crucial test on Wednesday, when shareholders are to vote on whether the board of directors has adequately addressed their concerns about executive pay...
Companies whose bosses take pay cuts during the Covid-19 crisis should be wary of handing them lucrative share awards at the same time, investment advisers have warned...
The hedge fund manager Bill Ackman has claimed his firm made $2.6B (£2.2bn) betting that the coronavirus outbreak would cause a market crash, barely a week after warning that “hell is coming” for US companies...
Activist investor Daniel Loeb has called on the Prudential to split up its business, as he blamed its US business from holding back the Asian unit...
The boss of Nissan , Hiroto Saikawa, has quit after admitting he received dubious income, broadening a scandal that led to the arrest of his predecessor Carlos Ghosn last year on charges of financial misconduct. Nissan’s board said on Monday it has accepted Mr Saikawa’s resignation following allegations that he had been improperly overpaid by tens of millions of yen (hundreds of thousands of pounds)...
Passport and bank-note maker De La Rue has appointed a new chairman as it looks to steady the ship following activist pressure. It has announced that Kevin Loosemore will join the company from FTSE 100 firm Micro Focus, taking over from Philip Rogerson who will leave the firm after seven years. The departure of Mr Rogerson follows attacks from activist investor Crystal Amber, which said he had “overseen the destruction” of shareholder value in a July statement...
NEW YORK (Reuters) - BlackRock Inc is stepping up opposition to U.S. CEOs who sit on more than one corporate board beside their own, arguing that working as a director takes increasingly more time, a report from the world's largest asset manager showed on Tuesday. BlackRock cast votes against 94 chief executives running for re-election to corporate boards outside of their own in this year's proxy season, up from 32 last year, according to the report...
Milton Friedman will be spinning in his grave at the heresy perpetrated by the US Business Roundtable. For the thick end of five decades US capitalism has been run along Friedmanite lines – namely that businesses are there to make money for their shareholders. No charitable giving, no diversity awareness. No green audits. Just making money. Period. Now some of the highest paid on the planet have appeared to ditch the idea of shareholder primacy...
ZURICH (Reuters) - Ernesto Occhiello had three tasks when he became Clariant's boss last September: restore calm after an activist investor uprising, oversee a tie-up with Saudi Basic Industries <2010.SE> and keep the peace with Chairman Hariolf Kottmann. Just 10 months later, Occhiello has quit as chief executive "for personal reasons with immediate effect", the specialty chemicals maker said on Wednesday, raising speculation the Italian failed on at least one of those fronts...
LONDON (Reuters) - Activist investor Edward Bramson is resigning from the board of Electra to focus on other commitments after leading a four-year transformation of the British private equity firm. Bramson, who has served as a director since 2015, was also the company's Chief Executive between 2016 and 2017, and was chiefly responsible for a sweeping overhaul of the firm's investment portfolio and governance...