Twitter Inc. will appoint three new directors to its board and create a committee to review its leadership and governance, as part of an agreement with activist investor Elliott Management Corp. and private equity firm Silver Lake...
Tesla Inc. shares have been on a tear since October, when the electric-vehicle maker posted a surprise third-quarter profit and said its Model Y will launch months ahead of schedule. After surging to another record close Tuesday, the stock climbed as much as 6% on Wednesday, boosting the company’s market value to more than $88 billion — more than Ford Motor Co. and General Motors Co. combined...
For all the lip service that corporate executives pay to the principle of honoring shareholder rights and interests, it’s not uncommon for them to signal that their lives would be easier if they didn’t have to deal with busybody investors...
We were never fans of SB 826, the law that went into effect last week requiring publicly traded companies based in California to add women to their corporate boards or face heavy fines. Diversity on corporate boards and in C-suites is extremely important, but the idea of a government-set quota was troubling from the start — and legally questionable as well...
Milton Friedman has had a tough year. The Chicago economist died in 2006, but his legacy lived on in corporate boardrooms. That changed in 2019 as chief executives lined up to disavow the doctrine that the Nobel laureate popularized in a landmark 1970 essay: that a company’s sole social responsibility is to produce profits for its shareholders...
NBCUniversal Chief Executive Steve Burke is planning to step down next year, accelerating an internal race to succeed him, according to two people familiar with the matter who were not authorized to comment...
Elon Musk told a New York judge that a pair of tweets he sent last month about Tesla Inc. weren’t improper, pushing against a request by the U.S. Securities and Exchange Commission to hold him in contempt for violating earlier restrictions on his social media posts...
Samsung Electronics Co. Vice Chairman Lee Jae-yong, the only son of its ailing chairman, was nominated Monday to join its board of directors. The announcement comes as the South Korean company grapples with a smartphone recall that has wiped out billions of dollars from its market value. Samsung recalled 2.5 million Galaxy Note 7 ...
Whether job cuts come primarily from Yahoo or AOL— will go a long way in determining how much Silicon Valley real estate Verizon needs. “A lot of this is still up in the air,” said Mark Rogers, a corporate governance expert who has been following Yahoo’s travails ...
Viacom's board on Wednesday decided to eliminate one of the last corporate perks for its ailing founder, Sumner Redstone. Going forward, the media mogul who turns 93 next week, will not be paid an annual salary, according to a person familiar with the situation. Redstone was paid a $2-million salary for the 2015 fiscal year, according to a regulatory filing...
Even as stock prices tumbled and the country was plunged into a deep recession in 2008, seven of California's 10 highest-paid chief executives got sizable raises, lifting the average pay package to $32 million. That same year, Wall Street bankers gave themselves nearly $20 billion in bonuses as the government spent billions of dollars to bail out financial institutions...
It's "proxy season" again for most public companies — called that because most shareholders submit their votes via proxy rather than attend the companies' annual meetings in person. This year's season represents a critical juncture in public company corporate governance because of the 2012 season, which earned the moniker "Shareholder Spring" in some circles. The reference was to the dramatic "Arab Spring"across the Middle East, which was marked by wide-scale protests seeking reform within autocratic governments.