Across the Board
Real-life 'Succession' Ends: Lachlan Murdoch Takes Control
After years of speculation and internal jockeying, the Murdoch succession saga concludes with Lachlan in control, and his siblings walking away with $1.1B each
“The Murdoch family has reached a deal that will see Rupert Murdoch's politically conservative eldest son Lachlan Murdoch cement control of the family media empire that includes Fox News and the Wall Street Journal. The agreement, announced on Monday, ends a family brawl over who will control one of the most high-profile global media groups and puts to rest questions of succession within the Murdoch family after its patriarch's death…. The drama is considered to be one of the inspirations for the television series ‘Succession,’ about the infighting of the members of a media dynasty. Its real-life resolution preserves the conservative tilt of Murdoch's media outlets. Under the deal, Rupert's children James Murdoch, Elisabeth Murdoch and Prudence MacLeod are each expected to receive about $1.1 billion in proceeds….” REUTERS
Could Elon Musk Be the First Trillionaire? Tesla Thinks So
Tesla’s board unveiled a compensation package for the chief executive that could be worth $900 billion if he meets ambitious targets
“Mr. Musk, already the world’s richest person, would have to increase Tesla’s stock market value eightfold over the next decade to collect the full value of the package, according to a securities filing. All the compensation would be in the form of Tesla shares. The package, which must be approved by the company’s shareholders, is expected to be put to a vote at an annual meeting on Nov. 6…. The new pay could add around $900 billion to that fortune if he succeeds in raising Tesla’s stock market value to $8.5 trillion from about $1.1 trillion today. It would be by far the richest compensation of any executive in corporate history. And it could leave him owning nearly 29 percent of Tesla, an extraordinary level of control for a chief executive.” NEW YORK TIMES
Starboard Targets BILL Holdings with Boardroom Play
With a sizable stake in hand, Starboard is pushing for board representation as M&A activity heats up across the fintech sector, fueled by growing investor confidence in evolving U.S. economic policy
“Activist investor Starboard Value owns an 8.5% stake in BILL Holdings and intends to run a boardroom challenge to push for changes at the financial automation software company that serves small and midsize businesses around the world, it said in a filing on Thursday.… BILL Holdings, which has a market value of nearly $5 billion and sees more than 1% of U.S. gross domestic product flow through its platform, saw its stock price lose nearly half of its value since January…. Starboard often nominates director candidates and then settles later with target companies.” REUTERS
US Shareholders Fail to Pass Any Green Proposals for First Time in 6 Years
This year’s proxy season highlights diminishing investor support for climate agenda
“No environmental proposals have passed shareholder votes during this year’s proxy season, for the first time in six years, in a further sign of diminishing investor support for the climate agenda in the U.S. Green resolutions failed across groups in the broad Russell 3000 index of U.S. stocks as most companies concluded their annual meetings, according to a Conference Board/Esgauge report that was shared exclusively with the Financial Times. The number of successful environmental proposals peaked at 14 in 2022, at the height of the environmental, social and governance (ESG) movement, and has since fallen sharply to only 2 in 2024 and zero in 2025.” FINANCIAL TIMES
Google Hit with $3.5 Billion Fine from European Union in Ad-Tech Antitrust Case
The European Commission signals it will not back down from structural remedies after calling for Google to divest parts of its ad business
“European Union regulators on Friday hit Google with a 2.95 billion euro ($3.5 billion) fine for breaching the bloc’s competition rules by favoring its own digital advertising services, but the bloc’s latest move to crack down on Big Tech companies drew outrage from President Donald Trump. The European Commission, the 27-nation bloc’s executive branch and top antitrust enforcer, also ordered the U.S. tech giant to end its ‘self-preferencing practices’ and stop ‘conflicts of interest’ along the advertising technology supply chain. It’s the fourth time Brussels has sanctioned Google with a multibillion-euro fine in an antitrust case, in a wider battle with regulators that dates back to 2017.” AP
Being Prepared for the Next Crisis: The Board’s Role
Forward-looking boards are championing integrated resiliency programs that combine crisis management, continuity planning, and rapid response capabilities to navigate the next disruption
“Boards are navigating an era of profound and persistent volatility. Global trade dynamics are in flux, shaped by shifting alliances and unpredictable tariffs. These disruptions have created ripple effects across companies’ strategic plans and supply chains, forcing companies to rethink revenue growth, financial performance, sourcing strategies, cost structures and operations. At the same time, economic signals remain mixed — consumer confidence is weakening and markets are increasingly reactive, yet external pressures are only part of the picture. Ransomware attacks, environmental disasters, unplanned CEO departures and other internal shocks can trigger crises just as suddenly and severely. In this environment, crisis is no longer a rare event but a recurring challenge.” HARVARD LAW SCHOOL FORUM ON CORPORATE GOVERNANCE
Autonomous AI Is Accelerating and Boards Need to Keep Up
Directors are moving quickly to integrate AI risk oversight into core governance practices before complexity outpaces control
“As AI reshapes the landscape and becomes ever more critical to a company’s strategy and competitive position, a top priority for boards is to understand where to focus their attention to help the company capitalize on AI’s value creation opportunities. The boardroom has moved past the ‘wow factor’ of generative AI to focus on achieving productivity and ROI. Critical to realizing its promised benefits is the retraining of workers to drive behavioral change and encourage employees to use generative AI to free up time to become more productive…. While only a modest number of directors report that their companies are deriving revenue from generative AI, there are some industries where it has become key to business strategy, driving innovation and efficiency in product design, supply chain optimization, predictive analytics and personalized customer experiences.” GOVERNANCE INTELLIGENCE
Three Pillars That Strengthen Board Leadership in Turbulent Time
Boards face a new era shaped by rapid technology shifts, empowered stakeholders, and persistent economic uncertainty
“Boards are navigating a business landscape that has undergone rapid transformation. Today, boardrooms face a new phase of acceleration driven by technological disruption, stakeholder activism, and macroeconomic uncertainty. This moment demands not just agility, but a mindset shift toward exponential thinking: embracing the vastness of what’s possible while knowing when to draw boundaries…. [This article discusses] three essential pillars for modern board leadership: resilience planning, digital literacy, and strategic communication. Together, these principles form a foundation for boards to lead with adaptable and future-focused outlooks.” NASDAQ
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