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    1. BlackRock: Lack of Diversity, Independence Drove Critical Board Votes

      BlackRock: Lack of Diversity, Independence Drove Critical Board Votes

      (Reuters) - Top asset manager BlackRock said on Tuesday it voted against 10% of company directors this year, up from 8.5% last year, as part of a more muscular approach to corporate governance. BlackRock gave the breakdown in its quarterly stewardship report, citing issues like a lack of boardroom diversity or director independence...

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    2. First Republic Bank Extends Contract of Founder, Chairman and CEO Jim Herbert

      First Republic Bank Extends Contract of Founder, Chairman and CEO Jim Herbert

      ( BUSINESS WIRE )-- First Republic Bank (NYSE:FRC), a leading private bank and wealth management company, today announced that its Board of Directors has extended the contract of its Founder, Chairman and CEO Jim Herbert through December 31, 2022, following which he will serve as Executive Chairman...

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    3. Investor Elliott Urges GSK to Consider Sale of Consumer Health

      Investor Elliott Urges GSK to Consider Sale of Consumer Health

      LONDON (Reuters) - Activist investor Elliott urged GlaxoSmithKline to consider the sale of its consumer healthcare business, which is being listed next year and said it saw scope to drive up the value of the group. Confirming for the first time that it had taken a significant position in GSK, Elliott set out five recommendations for the board as it prepares to split its two main businesses...

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      Mentions: Sale stake GSK
    4. Toshiba Shareholders Vote to Oust Board Chair

      Toshiba Shareholders Vote to Oust Board Chair

      Toshiba shareholders on Friday rejected the reappointment of board chair Osamu Nagayama in a rebuke to management after revelations of attempts to sway voting on activist investor proposals. CEO Satoshi Tsunakawa said shareholders had voted down a bid to reappoint Nagayama and a member of the firm's audit committee. It came despite Tsunakawa offering his backing for the chairman of the board, and pledging to work on reestablishing trust after the damaging revelations of an independent probe...

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    5. JPMorgan Shareholders Vote to Back Board Members, Executive Compensation

      JPMorgan Shareholders Vote to Back Board Members, Executive Compensation

      NEW YORK (Reuters) - A majority of JPMorgan Chase & Co shareholders voted to approve bank executives' compensation packages and to elect all of the board members at the annual shareholder meeting on Tuesday. Two shareholder proposals received strong support but fell just shy of the majority of shares needed to pass. The first was a proposal that would have made it easier for some investors to act by written consent by reducing the ownership threshold required to start that process...

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    6. Fresh From Icahn Settlement, FirstEnergy Weighs Divestitures

      Fresh From Icahn Settlement, FirstEnergy Weighs Divestitures

      (Reuters) - FirstEnergy Corp, the U.S. utility that gave activist investor Carl Icahn seats on its board this year, is exploring divestitures as an alternative to raising cash by selling stock, according to four people familiar with the matter. Akron, Ohio-based FirstEnergy is trying to recover from the fallout of accusations it was involved with a $60 million bribery scheme involving financial aid for troubled nuclear power plants in its home state...

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    7. Proxy Adviser ISS Recommends Vote Against Leonardo CEO Liability Action

      Proxy Adviser ISS Recommends Vote Against Leonardo CEO Liability Action

      MILAN (Reuters) -Proxy adviser ISS recommended on Monday that Leonardo shareholders vote against a liability action promoted by activist investor Bluebell against the Italian defence group's CEO citing "the absence of a sufficiently compelling rationale". Last year CEO Alessandro Profumo was sentenced in the first instance to six years imprisonment for false accounting in his previous role as chairman of Banca Monte dei Paschi di Siena...

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    8. Fresh Del Monte Produce Welcomes New Board of Directors, Lori Tauber Marcus and Kristin Colber-Baker

      Fresh Del Monte Produce Welcomes New Board of Directors, Lori Tauber Marcus and Kristin Colber-Baker

      Fresh Del Monte Produce Inc., one of the world’s leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, is pleased to announce the election of two additional members to its Board of Directors, Lori Tauber Marcus and Kristin Colber-Baker...

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    9. Alibaba Freezes Executive Pay Rises Amid China's Curbs on Big Tech

      Alibaba Freezes Executive Pay Rises Amid China's Curbs on Big Tech

      BEIJING (Reuters) -Chinese e-commerce giant Alibaba Group Holding has frozen pay for senior executives in 2021 and is instead giving junior staff bigger salary increases, sources said, in an effort to preserve its workforce amid a regulatory clampdown. Hundreds of top-tier executives at Alibaba are not entitled to salary hikes this year, unless they performed extraordinarily, four sources familiar with the matter said...

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    10. More than 100 Companies Sign Letter Opposing U.S. State Voting Restrictions

      More than 100 Companies Sign Letter Opposing U.S. State Voting Restrictions

      (Reuters) - Apple Inc, Amazon.com Inc, Ford Motor Co and Starbucks Corp are among the more than 100 companies that have come together to oppose U.S. state voting curbs that activist groups say unfairly target Black and other racial minorities. "We all should feel a responsibility to defend the right to vote and oppose any discriminatory legislation or measures that restrict or prevent any eligible voter from having an equal and...

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    11. Shell to Link Executive Pay More Closely to Group's Climate Performance

      Shell to Link Executive Pay More Closely to Group's Climate Performance

      LONDON (Reuters) - Royal Dutch Shell has proposed linking its directors' pay more closely to the group's climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said on Monday. The weighting of Shell's energy transition performance on its targeted path to net zero emissions by 2050 would double to 20% of the directors' long-term incentive plan calculation if shareholders vote for the plan at a meeting on May 18...

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    12. BlackRock Hires Law Firm for Internal Review After Latest Executive Conduct Complaints

      BlackRock Hires Law Firm for Internal Review After Latest Executive Conduct Complaints

      (Reuters) - BlackRock Inc said on Monday it is hiring a prominent law firm to conduct an internal review after a report in a trade publication detailed new employee complaints about the conduct of executives, including senior leader Mark Wiedman. BlackRock CEO Larry Fink said in a staffwide memo on Monday that the company is retaining the law firm Paul, Weiss to conduct a review, following the complaints and other incidents that have come to light in recent weeks...

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    13. Lawyer Says Kelly Innocent of Ghosn Pay Scheme

      Lawyer Says Kelly Innocent of Ghosn Pay Scheme

      TOKYO (AP) — The chief lawyer for Greg Kelly, an American on trial in Japan on charges of under-reporting Nissan former Chairman Carlos Ghosn’s compensation, says his client was merely trying to prevent Ghosn from going to a rival automaker. “Greg has no motive at all to commit such a crime,” Yoichi Kitamura said Friday at his Tokyo office. At the time, Kelly, then a Nissan executive vice president, was making good money, had a successful career and moreover, was a lawyer...

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    14. Blackstone CEO Schwarzman Took Home $610.5 Million in 2020

      Blackstone CEO Schwarzman Took Home $610.5 Million in 2020

      By Chibuike Oguh (Reuters) - Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last year despite the impact of the COVID-19 pandemic, regulatory filings showed. The majority of the windfall stemmed from Schwarzman's 19.3% stake in Blackstone...

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    15. Google to Evaluate Executive Performance on Diversity, Inclusion

      Google to Evaluate Executive Performance on Diversity, Inclusion

      By Paresh Dave (Reuters) - Alphabet Inc's Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist. Timnit Gebru, co-leader of Google's ethical artificial intelligence research team, said in December that Google abruptly fired her after she criticized its diversity efforts and threatened to resign...

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