Bob Chapek leaves Walt Disney Co.’s top job with exit payments and benefits that could be worth more than $23 million. That’s without including the millions more he could collect in the coming years if the company’s share price recovers...
FTX didn't have a board, but Sam Bankman-Fried was still able to raise $1.9 billion...
On February 6, 2015, Walmart’s board of directors met in San Bruno, California. Doug McMillon, who’d become CEO the year before; Greg Foran, the head of U.S. operations; Chief Financial Officer Charles Holley; and Susan Chambers, the chief human resources officer, were finally ready to recommend an increase in the company’s minimum wage...
During the height of the pandemic in 2020, Netflix debuted Kiss the Ground. This documentary sheds light on regenerative agriculture, a practice that combines indigenous knowledge, holistic management, and science to rebuild healthy soil and landscape function. It’s an “aha” moment type of film that converts “I had no clue” into action. Sometimes that action is as simple as putting kitchen scraps in a green bin...
What will the future look like? And what are the best companies doing to prepare for it...
Being new on the job as a CFO means you’re in the spotlight, and it’s time to make a good impression. But Tyson Foods Inc. CFO John R. Tyson, the son of the chairman of the company’s board of directors, is facing serious allegations a month into his appointment...
Lili Gil Valletta is a board member for Zumiez, a retailer specializing in brands for skateboarders and sporty types, and the kind of teens who wear “Virginity Rocks” t-shirts, ironically or not...
Elon Musk’s takeover of Twitter is already off to a rocky start, and his decision to bring in Tesla employees could come back to haunt him. The multitasking CEO faces yet another trial before the very Delaware judge who forced him to honor his contract with Twitter’s board to purchase the social media company. This time, however, it’s about something much more personal: his own pay...
Actor and producer Zac Efron is known for his work on television and in film, but as of July of this year, he has added another title to his résumé: member of a board of directors. The Emmy Award winner joined the board of directors for Kodiak, a food company known for its breakfast products like flapjack and waffle mix. It’s Efron’s first time serving on a board of directors, but he is no stranger to the company...
The U.S. Department of Justice has again signaled its willingness to hold corporate boards accountable for breaking the law...
When leaders at Mogul, a recruiting site for diverse executives, began planning a new report on boardroom diversity at Fortune 500 companies, they hoped to ultimately rank the 100 most diverse boards...
A bitter battle between so-called “stakeholder” and “shareowner” capitalists is heating up again, with BlackRock CEO Larry Fink and Vivek Ramaswamy pitted against each other. If Milton Friedman had anything to say about it, however, Fink and Ramaswamy would be locking arms rather than trading blows...
“A client told me, ‘Listen, people around this table will often joke about how I don’t know tech; that’s Ted’s job,’” says the managing director and chief futurist with Deloitte Consulting. “‘But what Ted said was, If I were to joke that I didn’t know finance, it would be a career-limiting move.’”...
Disney, McDonald’s, and GM appointed new board members this week for reasons that aren’t difficult to parse. GM, for instance, wants to outsell Tesla in the electric vehicle category by 2025; its newest director, Jon McNeill, is a former Tesla executive...
Last year, the word “recession” did not appear anywhere in KPMG’s U.S. CEO Outlook report, and “inflation” was mentioned only once. The 2022 report tells a completely different story. A majority of surveyed CEOs, 91%, anticipate a recession, with only one-third believing it will be short and mild. At the same time, nearly three-quarters of chief executives worry that rising inflation and living costs will affect their ability to retain talent...
Twitter wants a Delaware court to order Elon Musk to buy the social media service for $44 billion, as he promised back in April. But what if a judge makes that ruling and Musk balks? The Tesla billionaire’s reputation for dismissing government pronouncements has some worried that he might flout an unfavorable ruling of the Delaware Court of Chancery, known for its handling of high-profile business disputes...
The future of the American board is already here, as the truism goes. But not every board has caught up to it. That was the upshot of my recent conversation with Bill McNabb, former CEO and chairman of Vanguard...
NEW YORK (AP) — U.S. companies have added women to their boards of director at a slower pace this year compared with last year as the pandemic and a difficult economy shift priorities, according to a new report released Thursday.Women have continued to make gains, now holding a record 28% of board seats on the Russell 3000 index of publicly traded companies, according to an annual report by the advocacy organization 50/50 Women on Boards, which used data from executive data firm Equilar.That’s a 2.4% jump from the 25.6% of seats held by women ...
If U.S. corporate boards weren’t taking climate change seriously, the Securities and Exchange Commission recently prodded them to act. In a proposed rule change this past March, the SEC called for public companies to make mandatory climate-related disclosures to investors. That information includes climate risks with a reasonable chance of materially affecting their business, as well as greenhouse gas emissions. The SEC expects to finalize its new rule this fall...
Last week, U.S. Deputy Attorney General Lisa Monaco outlined the Department of Justice’s plan to increase the number of corporate criminals it prosecutes.A few high-profile examples of successful white-collar indictments notwithstanding, the government has hauled fewer companies to court over the past decade, Monaco said...
Kewsong Lee’s unexpected resignation last month as the CEO of the private equity giant Carlyle Group understandably captured Wall Street’s attention. Departures from a company with that level of clout typically do not happen abruptly.Less surprising was the announcement just days later that the company’s global head of investor relations, Nathan Urquhart, would leave at the end of the year to join hedge fund Coatue Management...
For 50 years there has been an impassioned debate about the appropriate aims and responsibilities of companies. Some side with Milton Friedman’s influential viewpoint, asserting that the only responsibility of business is to generate profits for shareholders. Others believe companies have broader responsibilities to society and the environment. Lately, even state legislatures have weighed in, proposing to ban financial managers who take ESG criteria into account. But while the battle of words continues, investors, customers, employees, and the public have moved forward...
A nonprofit linking executive women with startup firms in need of new board members has announced its latest appointment. Megha Tolia, CEO and president of Shondaland, is now a new member of the board of directors for The Good Patch , a wearable wellness brand. Tolia’s appointment was made possible through a group called the Women on Boards Project . Tolia talks with Fortune about how her career led her to be uniquely qualified for the role...
“Look at this,” Sophia Ononye-Onyia said to me at a National Association of Corporate Directors (NACD) reception last month. She held up a photo on her phone: It was her, seven stories high, on the Nasdaq building in New York City’s Times Square...