An Eastman Kodak Co. director appears to have cut the size of his large and well-timed donation of Kodak stock to a religious charity, which came amid a sharp surge in the company’s stock price last year, according to a new securities filing...
Before blood-testing company Theranos Inc. collapsed, founder Elizabeth Holmes was the darling of Silicon Valley’s startup world. She graced magazine covers, drew comparisons with Apple Inc. co-founder Steve Jobs, and, for a while, sat on a fortune valued at $4.5 billion...
Intel Corp. ousted its chief executive in a surprise move that pivots the semiconductor giant closer to its engineering roots after a period of technology missteps, market-share losses and pressure from a hedge fund...
Some boards are scrapping existing formulas and instead using their judgment to set annual incentives...
In the run-up to an initial public offering, startups typically hunker down in a quiet period, keeping their executives out of the media to avoid running afoul of regulatory requirements. For numerous executives that took their startups public in 2020 by merging with a special-purpose acquisition company, or SPAC...
Six Venezuelan-born Citgo executives were living and working in the U.S. in mid-November 2017 when they were summoned by Citgo parent PdVSA—the Venezuelan state-owned oil monopoly—to Caracas for a meeting. The five naturalized U.S. citizens and one U.S. permanent resident were in good standing with the Houston-based firm. As they boarded the corporate jet, they couldn’t have known that they were headed for prison...
The U.S. Securities and Commission approved a third version of a rule mandating the disclosure of information about payments made by oil, gas and mining companies to foreign governments. The latest version of the rule, approved with a 3-2 vote, attempts to ease the compliance burden it will impose on resource extraction companies while implementing a provision of the Dodd-Frank Act that was supposed to bring greater transparency to corruption-prone industries...
The U.S. Securities and Commission is scheduled to vote this week on a rule mandating the disclosure of payments made by oil, gas and mining companies to foreign governments. A vote on the rule, scheduled for Wednesday, could bring to close another chapter in a decade long attempt to enact a controversial provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act that was designed to help stave off corruption by companies in resource extraction industries...
One of the biggest board recruiting rushes in U.S. corporate history is set to commence, and it is likely to be a delicate one. A new board-diversity proposal from Nasdaq Inc. and a similar mandate passed in California this fall are expected to pave the way for potentially thousands of people with racially and sexually diverse backgrounds to join corporate boards over the next few years...
The more we think about the new racial, gender and LGBTQ mandates for corporate directors that Nasdaq announced on Tuesday, the more absurd they seem. How is a company supposed to find out if a board candidate is gay if that isn’t already known? Is it supposed to hire private detectives to look into it? Once that person joins the board, does the company then have to broadcast his or her sexual orientation in the annual report so progressives can be satisfied that the quota is met...
J.Crew Group replaced its chief executive after less than a year in the role, and just a few months after the apparel seller emerged from bankruptcy protection with new hedge-fund owners...
‘Uncle Dupie’ was a leading employer and philanthropist in Delaware, but declining profits and global competition put it in the crosshairs of shareholder activist Nelson Peltz...
Global banking giant HSBC Holdings PLC has made clear that its business destiny is in China. Its board, however, remains an Anglo-American affair. The London-based, Asia-focused bank appointed three board members along with a chief legal officer and a chief operating officer in the past 12 months. All are American. Just two out of 14 board members are Chinese....
Activist investor Elliott Management Corp. has taken a stake in F5 Networks Inc. and spoken to the software company’s management in recent weeks about ways to boost its lagging stock, according to people familiar with the matter. The exact size of Elliott’s stake couldn’t be learned, though it falls below the 5% threshold that would require regulatory disclosure, the people said...
This year, $2 billion is missing at a German fintech company, $300 million of sales has been found to be fabricated at a Chinese coffee chain and $5 billion in undisclosed debt has been uncovered at two related companies listed in the U.K. Together, the incidents cost shareholders of the companies roughly $30 billion...
Private companies are flooding to special-purpose acquisition companies, or SPACs, to bypass the traditional IPO process and gain a public listing. WSJ explains why some critics say investing in these so-called blank-check companies isn’t worth the risk...
Corporate boards could soon be on the hunt for fresh technology expertise as digital business models pursued in the wake of the coronavirus pandemic reshape business strategy. Companies over the past several months have rushed ahead with investments in AI-enabled analysis of business data, automation and new forms of digital collaboration. The moves, aimed at business continuity, are finding permanence as processes change across industries...
It’s been a bad few years for investors in shale companies, but a pretty good few years for shale company CEOs. The leaders of U.S. shale companies received some of the largest executive pay increases in corporate America, even as their shareholders lost billions of dollars, a Wall Street Journal analysis has found. The median pay for chief...
Boeing Co.’s board is accused of failing to properly oversee management’s responses to two fatal 737 MAX crashes and the plane’s safety problems in a shareholders’ lawsuit that cites internal company documents...
The U.S. Securities and Exchange Commission has approved amendments to the rules governing monetary awards made to whistleblowers who voluntarily report potential wrongdoing. Commissioners voted 3-2 Wednesday to approve the amendments , with Democratic members Allison Herren Lee and Caroline Crenshaw opposing...
Former McDonald’s Corp. Chief Executive Steve Easterbrook said in a court filing Friday that he complied with all the terms of his separation agreement with the fast-food company and it shouldn’t be allowed to claw back his multimillion-dollar severance package...
Greg Kelly, the former Nissan Motor Co. executive charged with helping hide Carlos Ghosn’s compensation as Nissan chief, pleaded not guilty Tuesday at the opening of his trial in Tokyo...
A new group of U.S. companies is pledging to add a Black director to their boards within the next year in a bid to diversify and help accelerate more inclusion in corporate America...
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them...