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    1. Oil CEO Trades $4 Million Award for $1,500

      Oil CEO Trades $4 Million Award for $1,500

      (Bloomberg) -- One of the oil industry’s highest-paid executives is taking a pay cut as his company braces for possibly difficult times ahead after its stock plunged last year. Nabors Industries Ltd. Chief Executive Officer Anthony Petrello agreed to forfeit $4 million in restricted stock in exchange for a symbolic award worth $1,500, the Hamilton, Bermuda-based company said in a filing on Jan 4. The CEO’s salary is also dropping 10 percent this year to $1.58 million...

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    2. HBC Climbs After Chairman Buys Stake From Ontario Teachers' at 29% Premium

      HBC Climbs After Chairman Buys Stake From Ontario Teachers' at 29% Premium

      Hudson’s Bay Co. Chairman Richard Baker boosted his holding in the struggling retailer, buying Ontario Teachers’ Pension Plan Board’s stake at a 29 per cent premium from Thursday’s close. An entity controlled by Baker agreed to pay $9.45 a share for the 9.8 per cent stake, valuing the deal at $169.7 million, according to a statement Friday. Baker said in the statement that his “significant ownership” demonstrates his commitment to the retailer, which also owns Saks Fifth Avenue...

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    3. Hyundai's Ambition Is Detached From Reality

      Hyundai's Ambition Is Detached From Reality

      (Bloomberg Opinion) -- Investors like targets – even ambitious ones – as long as they’re grounded in reality. South Korea’s flailing automakers, Hyundai Motor Co. and Kia Motors Corp., are targeting combined sales of 7.6 million vehicles in 2019, slightly more than their 2018 target, the companies said in regulatory filings. That's bold considering the global auto market is forecast to shrink at least 1 percent this year and that the group looks likely to have missed its goals for last year...

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    4. Billion-Dollar Award Made a CEO Uneasy. Now He's Fixing It

      Billion-Dollar Award Made a CEO Uneasy. Now He's Fixing It

      (Bloomberg) -- The prospect of a billion-dollar windfall left Rick Smith uneasy. It crept up on the chief executive officer in February, while he was telling employees about an audacious goal to grow Taser-maker Axon Enterprise Inc., the firm he founded in 1993, by more than fivefold over the next decade. If they could pull it off, shareholders would see handsome returns and Smith would pocket about $1.3 billion through a radical compensation plan...

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      Mentions: Tesla risk Bloomberg
    5. New Jersey Follows California in Measure to Add Women to Boards

      New Jersey Follows California in Measure to Add Women to Boards

      (Bloomberg) -- A new bill in the New Jersey legislature would require many public companies based in the state to have at least three women on the board by 2021. The measure is the first to mimic a California law signed in September and signals the potential for more states to follow. Both the California law and New Jersey’s proposal call for public companies domiciled in the state to have at least one female director by 2019...

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    6. Just Eat Activist's Letter to Santa Is Wishful Thinking

      Just Eat Activist's Letter to Santa Is Wishful Thinking

      (Bloomberg Opinion) -- As with so many of the letters received by Father Christmas around this time of year, the epistle sent by an activist investor to the management of Just Eat Plc on Monday seems like rather wishful thinking. The demands made by Cat Rock Capital Management LP, which says it owns about 2 percent of the British food delivery website, include asking management to set more ambitious targets and holding officials accountable by tying pay packets more clearly to the end results...

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    7. Activist Investor Pushing for New Board of Directors at Hudbay Minerals

      Activist Investor Pushing for New Board of Directors at Hudbay Minerals

      TORONTO - An activist investor in Hudbay Minerals Inc. ( HBM.TO ) says it will push for a new slate of directors at the company's next annual meeting after accusing the board of mismanagement. Waterton Global Resource Management Inc. said it is advocating for change at the mining company to address “massive value destruction and chronic underperformance.” The investment fund, holding about 10 per cent of Hudbay shares, said it pushed for dialogue with the company in October on potential changes to the board but was disappointed with the response. Waterton has also pushed to halt Hudbay's plans, announced at ...

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    8. Women Get Corporate Board Seats Mostly When It's Required by Law

      Women Get Corporate Board Seats Mostly When It's Required by Law

      (Bloomberg) -- Diversity advocates have been trying for two decades to sell the corporate world on gender balance in the boardroom. Maybe they should be lobbying lawmakers instead. A new study by Egon Zehnder points out that among countries that average three or more women on large company boards -- thought to be the threshold at which diversity starts to yield higher returns -- all but one operate under government-mandated quota systems...

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    9. More U.S. University Presidents Rake in Millions of Dollars

      More U.S. University Presidents Rake in Millions of Dollars

      (Bloomberg) -- As tuition continues to rise and the U.S. student debt crisis intensifies, some private college presidents are bringing home more money than ever. Sixty-one of them, to be exact, are being paid more than $1 million. That figure, from the Chronicle of Higher Education’s ranking of compensation for the heads of U.S. colleges, is up from the previous year’s total of 58 million-dollar winners...

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    10. Apollo Global Emerges as Leading Bidder for Arconic

      Apollo Global Emerges as Leading Bidder for Arconic

      (Bloomberg) -- Apollo Global Management LLC is the leading bidder to take aerospace manufacturer Arconic Inc. private after a months-long sale process, according to people familiar with the matter. Apollo made a final offer for Arconic last week that was selected over a bid from a rival group of private equity investors, said the people, who asked not to be identified discussing the negotiations. Terms of the deal couldn’t immediately be learned...

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    11. Activist Litt Pitched a Split Plan to Brookdale

      Activist Litt Pitched a Split Plan to Brookdale

      (Bloomberg) -- Activist investor Jonathan Litt made his case to split Brookdale Senior Living Inc. into a real estate investment trust and senior-housing operator to members of the company’s management, according to people familiar with the matter. Litt’s Land & Buildings Investment Management, which owns a 3.2 percent stake in Brookdale, has been pushing the company to explore ways to unlock the value of its real estate since 2016...

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    12. Hudson’s Bay Activist Litt Calls for 'Urgently Needed' Board Overhaul

      Hudson’s Bay Activist Litt Calls for 'Urgently Needed' Board Overhaul

      Activist investor Jonathan Litt is taking renewed aim again at Hudson’s Bay Co., this time calling for “urgently needed” change to the retailer’s board of directors. Litt, chief investment officer and founder of Land & Buildings Investment Management, said in a letter to Hudson’s Bay shareholders that the company should sell a number of assets, including the Saks Fifth Avenue brand and its flagship Fifth Avenue store in Manhattan, Lord & Taylor as well as its remaining 50 per cent interest in Galeria Kaufhof to Karstadt. “HBC’s board has an appalling track record, overseeing more than $2 billion ...

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    13. Ghosn’s Deferred Pay Ballooned After Shift in Rules

      Ghosn’s Deferred Pay Ballooned After Shift in Rules

      (Bloomberg) -- Carlos Ghosn’s deferred income ballooned over the past eight years as he sought to downplay his compensation in front of shareholders, a practice that was a focus of the investigation that led to the car titan’s arrest, according to people familiar with the probe. Japan started requiring executive pay be made public in 2009 amid investor backlash against high salaries...

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    14. Ghosn’s a Victim of the Nissan World He Made

      Ghosn’s a Victim of the Nissan World He Made

      (Bloomberg Opinion) -- You reap what you sow. As the auto world makes sense of Carlos Ghosn’s sudden fall from grace at Nissan Motor Co., one thing is clear: The legendary executive was a victim of dismal corporate governance at the company he sat atop for decades. Allegations against Ghosn include under-reporting his income in securities filings and making personal use of company assets...

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    15. Breaking News: Campbell Soup Reaches Deal to End Proxy Fight With Activist Loeb

      Breaking News:  Campbell Soup Reaches Deal to End Proxy Fight With Activist Loeb

      (Bloomberg) -- Campbell Soup Co. reached a settlement in its proxy battle with Dan Loeb, agreeing to give the activist investor two seats on the company’s board as well as a say in choosing a new chief executive officer. The agreement allows Loeb’s Third Point to appoint independent directors Sarah Hofstetter and Kurt Schmidt to the board and expands the board’s size to 14 from 12...

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    16. Campbell Gets Fuel in Fight With Activist After Sales Beat Estimate

      Campbell Gets Fuel in Fight With Activist After Sales Beat Estimate

      (Bloomberg) -- Campbell Soup Co. reported “improved trends” for its soup business and posted sales and profit that outpaced estimates, giving the company firmer footing in its battle with activist investor Dan Loeb. Net sales of $2.69 billion exceeded analysts’ estimate, while adjusted profit of 79 cents was well above the expected mark. Key Insights The results won’t help Loeb, who’s trying to replace the company’s board...

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    17. Telecom Italia Is Said Ready to Name Luigi Gubitosi as CEO

      Telecom Italia Is Said Ready to Name Luigi Gubitosi as CEO

      (Bloomberg) -- Telecom Italia SpA is set to name former Merrill Lynch banker Luigi Gubitosi as its new chief executive officer after Amos Genish was ousted this week by allies of an activist shareholder, according to people familiar with the matter. The 10 directors who are backed by Elliott Management Corp. agreed on Gubitosi during a conference call they held Saturday, the people said, asking not to be named since the discussions are confidential...

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    18. Barclays Faces Expulsion From European Blue-Chip Index on Brexit Bloomberg

      Barclays Faces Expulsion From European Blue-Chip Index on Brexit Bloomberg

      (Bloomberg) -- The steepest annual decline in Barclays Plc’s shares in seven years is putting the British bank in danger of losing its coveted place in the Stoxx Europe 50 index. The lender, which has come under pressure from an activist investor to shrink its trading business, has lost about 17 percent of its market value this year as Brexit-related fears weigh on U.K. banks...

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    19. Dell Is Near Deal to Win Support of Tracking Stock Holders -

      Dell Is Near Deal to Win Support of Tracking Stock Holders -

      (Bloomberg) -- Dell Technologies Inc. is close to agreeing a deal with some of the top shareholders of its tracking stock that would guarantee their support for the company’s plan to return to the public markets, according to people familiar with the matter. The improved terms under deliberation would include an increased cash component and could value the tracking stock, known as DVMT, at about $120 to $130 per share, said the people, who asked not to be identified as the details aren’t public...

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    20. Ousted Telecom Italia CEO Says He Was Misled by ‘Dysfunctional’ Board

      Ousted Telecom Italia CEO Says He Was Misled by ‘Dysfunctional’ Board

      (Bloomberg) -- Amos Genish says he was duped. Sent on a business trip to Asia over the weekend, the Telecom Italia SpA chief executive officer learned on a hastily summoned conference call in the early hours of Tuesday in Europe that he was out of his job. Genish was canned by a board stacked with representatives from Elliott Management Corp., the activist investor that had become increasingly weary of the former army captain turned executive...

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    21. Telecom Italia CEO Ousted in Surprise Dawn Coup by Elliott Board -

      Telecom Italia CEO Ousted in Surprise Dawn Coup by Elliott Board -

      (Bloomberg) -- The sun had yet to rise over Milan when Telecom Italia SpA’s board gathered for a conference call Tuesday morning. Dialing in thousands of miles away was Chief Executive Officer Amos Genish, who had spent the last few days in South Korea and China for business. By the time the meeting wrapped up just before 9 a.m., he was out of his job. Genish was voted out by the board members representing activist investor Elliott Management Corp., who make up 10 of the 15 directors...

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    1-24 of 84 1 2 3 4 »
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