In bid to turn around, the company is changing its board, cutting salaries and slashing capital budget Occidental Petroleum Corp., the largest oil producer in the giant Permian Basin, has ceded to activist investor Carl Icahn’s demands and announced deep spending cuts in a bid to survive the steepest crude-price plunge in decades...
Occidental Petroleum Corp. is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, according to an internal email reviewed by The Wall Street Journal...
Chief executives of large U.S. companies rode a more than decadelong bull market to a string of record pay days...
Activist investor to get two board seats, approval of third, independent director Occidental Petroleum Corp. is nearing a truce with Carl Icahn that would conclude one of the highest-profile corporate clashes of the past year and usher the activist investor into the embattled oil producer’s board room as it seeks to recover from a series of setbacks...
GameStop Corp. is facing a renewed threat from a group of shareholders upset with the videogame retailer’s performance...
Smaller companies lag behind the country’s biggest corporations in bringing more women onto their boards. In California, though, that gap has been closing since the state began requiring public-company boards to include female directors, according to new data...
LONDON—Barclays PLC Chief Executive Jes Staley came under renewed pressure Monday after an activist investor called on the bank to withdraw its support for its American CEO because of his professional relationship with the late financier and convicted sex offender Jeffrey Epstein...
FanDuel’s founders and more than 100 former employees say the company’s board of directors and private-equity investors intentionally undervalued the sports-betting operator to shut them out of an acquisition deal, according to a lawsuit filed Tuesday...
YOKOHAMA, Japan—Nissan Motor Co. Chief Executive Makoto Uchida faced down angry shareholders at a rowdy 2½ hour meeting Tuesday, where they questioned whether he had a plan to reverse the company’s widening losses...
Liberals claim they’re troubled by corporate power. So why are they working to expand it? ‘Stakeholder capitalism” is officially here. That’s the fashionable notion that companies should serve not only their shareholders, but also other interests and society at large. Last month Airbnb’s leaders announced a new mandate that the company “benefit all our stakeholders over the long term,” including through tying executive compensation to the company’s social goals...
Former Aetna Inc. Chief Executive Mark Bertolini resigned from the board of CVS Health Corp., after the company said Monday he wouldn’t stand for re-election later this year...
Former Aetna Inc. Chief Executive Mark Bertolini said he is being pushed off the board of CVS Health Corp...
Xerox Holdings Corp. said Monday it has secured financing for its takeover offer for HP Inc., a sign the printer-and-copier company is pushing forward with an unsolicited $33 billion bid that its larger rival has resisted...
This year was a big one for mergers and acquisitions, but it could have been even better. The value of deals announced globally reached $3.8 trillion through Dec. 27, making 2019 the fourth-best year on record for M&A. The combined value of deals fell just 4% short of last year’s total, according to Dealogic, as the appetite for megamergers reached a new high...
Travis Kalanick’s ride at Uber Technologies Inc. is nearing an end. The co-founder of the ride-hailing giant has sold more than $2.5 billion of stock in the past seven weeks, more than 90% of his stake...
Land & Buildings Investment Management wants it to explore deal with VICI Properties Activist investor Land & Buildings Investment Management LLC has been buying shares in Gaming and Leisure Properties Inc. and is pushing the casino real estate owner to seek a merger partner, according to people familiar with the matter...
Democrat Gavin Newsom says changes needed before he will sign off on embattled utility’s proposed plan to exit chapter 11 California Gov. Gavin Newsom is demanding changes to PG&E Corp.’s plan to pay wildfire victims and exit bankruptcy, saying the company’s current proposal “falls woefully short” of a law outlining requirements that would allow the utility to receive state assistance...
Activist investor Starboard Value LP has privately nominated a majority slate of directors at Mednax Inc. and is pushing the healthcare-services company to sell all or part of itself, according to people familiar with the matter...
Carl Icahn is an activist investor with a penchant for confronting incompetent, misguided or complacent corporate management, but he is wrong to oppose the Securities and Exchange Commission’s proposed new rules for proxy advisory firms (“Let Proxy Advisers Do Their Work,” op-ed, Nov. 19)...
Activist investor Starboard Value LP has taken a stake in CVS Health Corp. and held talks with the drugstore-and-insurance giant’s management, according to people familiar with the matter. The stake appears to be relatively small and the people said the talks, held recently, are amicable. How much Starboard currently owns and what it has discussed with the company couldn’t be learned...
Roadrunner Transportation faltered in an economic boom period and now is trying to rebuild with freight far harder to come by...
McDonald’s Corp. MCD -2.72% said it would pay former Chief Executive Steve Easterbrook six months in severance after firing him due to a relationship with an employee that broke company policy. The burger giant said in a filing on Monday that the agreement absolved McDonald’s of liability resulting from Mr. Easterbrook’s termination and barred him from working for another fast-food company for two years...
Division holding DirecTV sheds 1.4 million pay-TV customers in latest quarter; WarnerMedia revenue slips AT&T Inc.’s struck a truce with an activist investor that had been pressuring the telecom giant to revamp its strategy and said its chief executive will stay at the helm through next year. The deal came as the company reported another quarter revealing the challenges of moving beyond its traditional telephone business. Overall, quarterly profit and revenue declined from a year ago...
The activist that shook up CSX Corp. has wound down most of its investment in the railroad operator, marking an end to a three-year saga that helped spur a massive overhaul of the U.S. railroad industry. Paul Hilal’s investment vehicle, Mantle Ridge LP, has sold off nearly all of its $1 billion position in CSX, according to securities filings...