By capturing the process to which they owe their own positions, American CEOs have made a mockery of shareholder control Katharina Pistor is Professor of Comparative Law at Columbia Law School and the author of The Code of Capital: How the Law Creates Wealth and Inequality . The Business Roundtable, an association of the most powerful chief executive officers in the United States, announced this month that the era of shareholder primacy is over...

In an era in which technology, ethics and managerial responsibly are becoming more complex, a chief executive officer sets the tone for their organization...

Peter Marrone says compensation ‘should be lower’ In the long-running controversy over executive pay in the Canadian gold industry, Yamana Gold Inc. is a name that frequently crops up. At its recent annual meeting, the Toronto-based company came close to losing another say-on-pay vote, squeaking by with just 54.5-per-cent approval, after its 2018 executive compensation package raised the ire of a proxy advisory firm...

The retailer said Monday that it is pursuing ‘strategic alternatives’ for the U.S. chain as part of its strategy to focus on bigger opportunities Hudson’s Bay Co. is considering selling its troubled U.S. Lord & Taylor department-store chain. The Toronto-based retailer, whose chains include its namesake and Saks Fifth Avenue, said on Monday it is pursuing “strategic alternatives” for Lord & Taylor, among them a possible sale or merger as part of its strategy to focus on its biggest opportunities...

The company says McMullen will come on as chief executive and director on May 1, pending his authorization to work in Canada Detour Gold Corp. has named a new CEO after an activist investor helped push for a leadership shake-up last year. The company says Michael McMullen will come on as chief executive and director on May 1, pending his authorization to work in Canada...

The chief economist of Toronto-Dominion Bank says the gender diversity of Canada’s corporate boardrooms lags that of the U.S., with 24 per cent aggregate female diversity compared with 25 per cent south of the border...

Chevron, Equinor become latest targets of shareholder push U.S. and Norwegian oil majors Chevron and Equinor have become the latest targets of activist investors moving to force five of the biggest oil companies to commit to fixed emissions targets and align with the Paris climate agreement. The effort, part of a wave of climate-related proxy resolutions planned for spring 2019 annual shareholder meetings, is being led by investor groups Follow This, As You Sow and Arjuna Capital...

Proxy adviser Glass Lewis on Wednesday backed Paulson & Co.’s call to overhaul Detour Gold Corp.’s board, days after another adviser stopped short of recommending more aggressive changes demanded by the activist investor. Detour’s existing management has been resisting Paulson’s push for a board shakeup and the immediate dismissal of interim chief executive officer Michael Kenyon and chairman Alex Morrison. Paulson has about 6 per cent stake in Detour...

Activist investor Daniel Loeb and Campbell Soup Co hardened their positions in the battle over the soup maker’s future on Thursday as the hedge fund manager tried to woo retail shareholders and the company’s interim chief executive told Reuters that Loeb had left no room for compromise...

Billionaire investor Daniel Loeb and fellow Campbell Soup Co shareholder George Strawbridge on Thursday called for a sale of the iconic U.S. food company best known for its canned soups, according to a regulatory filing. The joint effort, first reported by Reuters earlier on Thursday, could prove difficult as descendants of former Campbells Soup Chairman John Dorrance own a combined stake of about 41 percent in the company...

Junior gold-exploration company Osisko Mining Inc. is making changes to its proposed board of directors slate, days before its annual meeting, after shareholder proxy firms Institutional Shareholder Services (ISS) and Glass Lewis & Co. raised governance concerns about a lack of director independence...

When “say on pay” was first introduced in Canada near the start of the current decade, board members and organizations (primarily Canadian banks) that adopted the non-binding shareholder vote were viewed as leaders...

BlackBerry Ltd. shareholders voted in favour of an executive pay package on Wednesday that could see chief executive officer John Chen earn more than US$400-million over the next five years. At its annual meeting in Waterloo, Ont., BlackBerry investors voted 90.6 per cent in favour of a compensation package that puts Mr. Chen in line for an additional US$90-million, on top of stock awards designed to be worth more than US$300-million granted when the CEO received a five-year contract extension in March. Open this photo in gallery BlackBerry Ltd. chief executive John Chen speaks at the ...

AutoCanada Inc. says its board of directors has appointed a special committee of independent directors to review strategic alternatives following a request by an activist shareholder. The auto dealership group says the special committee will review options to maximize shareholder value. Last week, Clearwater Capital Management wrote to AutoCanada’s board and asked it to explore its options amid concerns about the company’s recent performance....

When we told you in March of CEO John Chen’s lucrative contract extension at BlackBerry Ltd. − stock awards designed to be worth more than US$300-million − we also knew Mr. Chen was in line for a cash bonus, amount to be named later. Shareholders scouring the company’s proxy statement now know the number: Mr. Chen is in line for a possible US$90-million award, on top of the shares BlackBerry granted him...

Elizabeth Holmes, the once-lionized CEO of the U.S. blood-testing company Theranos, was charged with fraud last week...

"There aren't defined standards on exactly what companies should be measuring and how to measure it and how to report on it," says Andrew MacDougall, a partner at Osler, Hoskin & Harcourt LLP who specializes in corporate governance . "The practices tend to vary between issuers, not only in terms ...

Globalization has stripped away meaningful connections between corporate management and shareholders, says Delaware Supreme Court Chief Justice Leo E. Strine Jr., putting so much focus on equity growth that other stakeholders lose out. “People forget about the importance of geography,” the outspoken judge told a crowd of institutional investors at the annual meeting of the Canadian Coalition for Good Governance in Toronto Tuesday. “People used to have genuine geographic ties to corporations...

As the term “digital disruption” becomes the mantra and primary concern in many industries, the skills once considered prerequisites for corporate leadership are declining in importance. Leaders have traditionally been expected to execute a singular vision with unflinching determination, directing a top-down workplace composed of individual departments. But that is changing, said Kate Morican, partner of strategic change and transformation for Deloitte Canada.

Caisse de dépôt et placement du Québec is coming out against Bombardier Inc.'s executive compensation and withholding its vote for the company's chairman as pressure builds on the Canadian plane maker ahead of a potentially fractious annual shareholders meeting Thursday...

State Street’s statue underscores the reality that the corporate response to the lack of women on boards in both the United States and Canada has been weak and that Canada’s comply-or-explain regime has been ineffective...

The proportion of women on Canadian boards has doubled to 21.6 per cent over the past 15 years, with the finance, retail and utilities sectors leading the trend. Mining and energy still lag, but have also showed growth in recent years. Women’s representation on FP500 boards, by sector Percent who are women, 2012 vs. 2016...

I am not sure who coined the term, but I often hear Canada’s leadership teams referred to as “male, pale and stale”. While I consider “stale” a bit harsh, the “male and pale” is hard to deny. A mere 12 per cent of TSX publically listed company directors are women, and visible minorities make up 4.5 per cent of FP500 company directors in Canada...

One measure rarely factored in board performance is innovation. This may be because the question is too big: “How innovative is your board?” is almost impossible to answer in any measurable way. But one function of innovation we can all measure is diversity. And I believe the more we view diversity as a driver of innovation, the better Canada’s boards, companies and economies will perform ...