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 ...
A A Bill Ackman has had quite the year. He turned 50, lost a couple billion dollars and wagered another billion on burritos. Then, of course, there was a feature in Vanity Fair contemplating whether he’s toast. But Mr.Ackman’s still feeling good, especially now that he’s had a swig of the Donald Trump Kool-Aid...
Gone are the days when a board could sequester itself behind closed doors and only encounter shareholders in line for coffee and tiny sandwiches at the annual meeting. The paradigm for shareholder communication has been set up backwards. It has been structured to protect – not engage – directors from shareholders by filtering contact through management ...
One of the biggest determinants of whether a company will be a profitable investment lies in the strength of its management team. This team is made up of highly talented, driven individuals who steer the organization’s strategies. Because these individuals can have a huge influence on a company’s success, it is important to highlight that improperly compensated executives may have the potential to cost shareholders dearly...
A A Hershey Co, the chocolate maker that Oreo cookie-maker Mondelez International Inc tried to buy earlier this year, said on Friday that Chief Executive John Bilbrey would retire from his post on July 1. Bilbrey will continue as non-executive chairman of the board following his retirement as president and CEO, Hershey said. The company said it had created a special committee to search for a new chief executive...
The federal government has introduced new legislation that would fundamentally change the way corporate directors are elected in Canada, giving shareholders the right to vote against unpopular nominees. A bill tabled Wednesday in the House of Commons proposes a new voting system that would allow shareholders to cast a ballot either for or against board members at companies that are publicly traded on a stock exchange...
Today’s directors are critical beyond a governance role, engaging in areas from digital strategies to marketing and talent. Experts offer some tips for business leaders to build stronger boards ...
When strategy goes wrong, we often blame it on poor execution, communication or picking the wrong strategy tool. But in extensively studying the subject for his PhD thesis, Steven Cofrancesco, a consultant and adjunct professor at Grand Canyon University in Phoenix, found we’re totally off base. Strategy, he says, most often fails because we don’t understand and properly manage the human emotions involved ...
A A Susan McArthur is managing partner of GreenSoil Investments and a corporate director. The mandate of the Canadian Board Diversity Council is to improve diversity on corporate boards. Every year, the CBDC circulates a survey to measure the makeup of Canadian board memberships. The data are compiled into an annual report card that highlights statistics on diversity.....