Genesco Inc. has joined a growing list of publicly traded firms attracting activist shareholder interest in the current retail climate. In a filing with the U.S. Securities and Exchange Commission on Tuesday, investment firms Legion Partners Asset Management LLC and 4010 Capital LLC disclosed their intent to drive change at Genesco, which has seen some unevenness in recent months...
Elon Reeves Musk , the Canadian-American business magnate, is the founder, CEO, and CTO of SpaceX; co-founder, CEO, and product architect of Tesla, Inc.; co-founder and chairman of SolarCity; co-chairman of OpenAI; co-founder of Zip2; and founder of X.com, which merged with Confinity and took the name PayPal.
By Liana B. Baker and Anya George Tharakan (Reuters) - Activist investor Elliott Management Corp on Friday disclosed a 6 percent stake in chipmaker NXP Semiconductors NV and indicated it was pushing for a higher price tag in NXP's pending sale to Qualcomm Inc for $38 billion in cash. Elliott's stake, valued at roughly $2.2 billion to $2.3 billion, makes it NXP's largest shareholder, and the hedge fund's biggest activist shareholder campaign involving a semiconductor company to date...
New York (AFP) - After buying big American brands like Apple, Pepsi and Yahoo!, activist shareholders - investors in search of big dividends - now are setting their sights on European companies like Nestle. "No company is really immune from activism except perhaps for the very largest companies," says Gregory Taxin, managing director of Spotlight Advisory, a consulting firm for activists...
Netflix CEO Reed Hastings and his C-suite colleagues saw big raises for 2016, a year in which the company stock appreciated 8.2%, according to the company proxy just filed at the SEC. Hastings’ take improved 39.5% to $23.2 million — his best payday yet, although it’s far lower than what CEOs make at some of the companies Netflix bedevils including CBS, Viacom, Disney, and Fox...
Yahoo CEO Marissa Mayer won’t hang around to run the investment fund, Altaba, that will be left over after the company sells its media assets to Verizon , the company says in a preliminary proxy filed today at the SEC...
The Firm That Commissioned the Young Girl Statue Has Only 3 Women on Its Board Sam Dangremond From Town & Country State Street, the firm that put up a statue of a young girl facing down Wall Street's bull to call attention to the importance of female leadership, has three women on its 11-person board of directors and five women on its 28-member leadership team...
Although Apple boasts about its efforts to reduce carbon emissions, members of the board didn’t want to be held to any promises. And even though Barack Obama has called climate change a “terrifying” threat to human survival, one of Obama’s most powerful regulatory agencies weighed in this week to help Apple shield itself from shareholders who want the company to outline its environmental plans...
Stockholm (AFP) - Former executives with Swedish telecoms equipment giant Ericsson say the firm shelled out tens of millions of dollars in bribes between 1998 and 2001, the Swedish media reported Wednesday. A former executive named Liss-Olof Nenzell has handed the US Securities and Exchange Commission (SEC) documents relating to the alleged kickbacks, Dagens Nyheter daily and Swedish public radio SR said...
Prime Minister Theresa May set out plans to get big business behind her Brexit strategy on Monday, toning down plans to put workers on company boards and promising to spend billions of pounds on science, technology and research. In return, May told business leaders at a conference hosted by the Confederation of British Industry, that they needed to keep up their own investment, embrace corporate governance reforms and help spread prosperity across the country ...
Chipotle Investors Want to Remove Co-CEO and Founder Steve Ells From Board of Directors Pauline Lacsamana Pin it Share Just when things were looking up with the introduction of dessert and breakfast items in the works after much bad press this year, some of Chipotle’s investors are looking to have co-CEO and founder Steve Ells removed from his position as chairman of the board of directors...
By Michael Flaherty (Reuters) - Title insurer Stewart Information Services Corp said on Tuesday it would add four new directors to its board in a deal with activist investor Starboard Value LP. The company also struck a deal with another shareholder, Foundation Asset Management LP, which agreed to drop its pursuit of a special shareholder meeting...
Caterpillar Inc said on Monday that chief executive Doug Oberhelman will retire in 2017 as the heavy equipment maker navigates a lengthy downturn its core businesses and will be replaced with Jim Umpleby, a long-time company insider ...
On Monday night, Wells Fargo announced that two executives, CEO John Stumpf and former head of community banking Carrie Tolstedt, who has since retired, would not be receiving a significant amount of compensation totaling $60 million. To the ears of an outraged public this was a measure of satisfaction against executives who allowed over 2 million accounts to be fraudulently created in the names of hundreds of thousands of consumers on their watch...
Wells Fargo & Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street ...
Genius has added Steve Stoute, the CEO of communications firm Translation and a former major label executive, to the lyrics and annotation site's board of directors. Stoute joins Genius co-founders Tom Lehman and Ilan Zechory, Andreessen Horowitz co-founder Ben Horowitz and Quicken Loans owner Dan Gilbert in the board room ...
Pin it Share Twitter shares soared 20% Friday after CNBC reported that the social company is in talks to be acquired, with interested suitors including Google and Salesforce.com . Twitter’s board of directors is interested in selling the company, but no deal is imminent, CNBC’s David Faber reported . However, according to the report, the discussions with “picking up momentum” and a deal could be reached by the end of 2016...
Fannie Mae , the largest U.S. home funding source, elected Ryan Zanin to its board of directors. Zanin, who has over 30 years of experience in financial services, specializing in risk management, recently served as the president ...
Financial markets are rebounding on Monday from the worst selling pressure in months. Friday, the Dow Jones Industrial Average suffered its largest decline since June. Gold fell. Oil fell. Treasury bonds as represented by the iShares 20+ Year Treasury Bond ETF (TLT) returned to levels not seen since June. For investors, it was a very rude awakening from the long, easy, summer doldrums that ...
Now that Viacom chairman and CEO Philippe Dauman and controlling shareholder Sumner Redstone are finalizing a settlement of their feud before a trial forces them both to expose even more of their dirty laundry, the fire of the legal fight has been put out. But the next battle, the one to decide where Viacom will go from here, will come into immediate focus...
By Lauren Hirsch and Greg Roumeliotis (Reuters) - The board of the charitable trust that controls Hershey Co said on Friday it had reached an in-principle agreement with the Pennsylvania Attorney General's office that would avoid a legal row in exchange for reforms in how it is run. The settlement could provide stability to the trust following months of infighting and confrontation with the attorney general's office...
By Ross Kerber BOSTON (Reuters) - Leaders of top U.S. companies and investment firms on Thursday released a set of governance recommendations meant to encourage long-term economic growth, an unusual step that drew mixed reviews from advocates of deeper corporate reforms...
Corvex Management LP, a hedge fund run by Keith Meister, a protégé of activist investor Carl Icahn, disclosed a 9.9 percent stake in Pandora in May and urged the company to explore a sale. Unlike other streaming services, which have negotiated deals with ...
The Pharmaceutical Research and Manufacturers of America (PhRMA) announced today three biopharmaceutical research companies joined the association as members and two transitioned from research associates to full members.....