Across the Board
Elliott Strikes Governance Deal with HPE
Board expansion includes KLA chair as part of agreement giving activist a seat at the strategy table
“Hewlett Packard Enterprise has agreed to cooperate with activist investor Elliott Investment Management and added a veteran tech executive to its board as part of efforts to boost shareholder value following its Juniper Networks acquisition. Robert Calderoni, chairman of chip tools maker KLA, has joined HPE's board and will lead a new strategy committee formed under a cooperation agreement with Elliott that includes information-sharing…. Elliot also has the right to appoint an employee to HPE's board under the agreement that lasts at least a year and prevents the hedge fund from launching proxy contests.” REUTERS
Trump Administration Sues to Oust Corporation for Public Broadcasting Board
A Trump executive order from May aimed to slash public subsidies to PBS and NPR, which have called the move blatantly unlawful
“Just as the Senate began debate on the rescissions package that would strip the Corporation for Public Broadcasting of two years' worth of its funding, the Trump administration filed a new lawsuit against the three CPB board members whom the president has attempted to fire but have refused to leave. Tuesday's filing, in US District Court in Washington, is the latest volley in a monthslong legal fight between the administration and the entity that funds the nation's public radio and television stations. It seeks to affirm President Donald Trump's power to remove members of the CPB board -- a power the corporation and its board members insist he doesn't have.” ABC
Meta Board Sidesteps Trial with Last-Minute Settlement
Privacy lawsuit over board’s handling of Cambridge Analytica data scandal ends just as trial begins, sparing top leaders from testimony
“A lawyer in a data-privacy case against current and former Meta Platforms officials told the judge that shareholders who brought the suit and the defendants had agreed to settle, ending the trial on its second day. The settlement means high-profile Meta executives and board members will avoid testifying about their response to the Cambridge Analytica scandal. A group of company shareholders in 2018 sued some members of the board of what was then known as Facebook, including director Marc Andreessen, Chief Executive Mark Zuckerberg and former Chief Operating Officer Sheryl Sandberg. The plaintiffs said the directors didn’t ensure the company protected its users’ data, leading U.K. data firm Cambridge Analytica to improperly access information from millions of Facebook users.... The trial would have been a test of corporate rights in Delaware. Meta threatened to move its legal headquarters out of the state earlier this year, but hasn’t reincorporated in another state.” WALL STREET JOURNAL
Opinion: Could Tim Cook Be Headed for the Chairmanship?
Despite product concerns and market pressure, board loyalty and long-term growth keep Cook firmly in control
“Tim Cook is pretty continually criticized for issues ranging from stumbles over the launch of Apple Intelligence, to how he isn't a product person, and also how he just isn't his predecessor, Steve Jobs. At times, there are calls from pundits and analysts saying that Cook must be fired, but he never is, he never will be — and now according to Bloomberg, that's also the firm opinion the opinion of Apple's board. Specifically, it's because although Apple's shares are down 16% in 2025 — chiefly due to Trump's whim-based tariffs — they are overall around 1,500% higher than when Cook took over as CEO. The report notes that Apple's board of directors contains what it describes as Cook loyalists, such as Arthur Levinson, Susan Wagner, and Ronald Sugar, who have rarely interfered with the running of the company.” APPLE INSIDER
Bank CEOs Are Coming Out Fighting for Fed Independence
David Solomon, Brian Moynihan, and Jane Fraser join the central bank’s defenders
“The nation’s biggest bankers are speaking out to defend the independence of the Federal Reserve while President Trump openly discusses ousting Chair Jerome Powell. Goldman Sachs Chief Executive David Solomon, Bank of America head Brian Moynihan and Citigroup’s Jane Fraser said on Wednesday the central bank’s ability to operate without White House or political interference is critical to the U.S. economy and financial markets. They followed JPMorgan Chase CEO Jamie Dimon, who said the same thing on Tuesday…. The remarks fit with their long stated opinions about monetary policy. Banking leaders are now weighing in as they encounter an unusual situation in which a president is openly pressuring the Fed to cut interest rates and discussing firing the chairman. Bankers fear a change would upset the global markets, the status of Treasurys as a haven and their own operations.” WALL STREET JOURNAL
HSBC Exits Climate Pact, Joining Wave of Bank Withdrawals
As political pressure mounts, global banks retreat from climate coalitions once seen as industry standard
“Britain's HSBC became the latest bank to leave the industry's climate coalition on Friday, following in the footsteps of major U.S. lenders as some governments' net zero ambitions cool. HSBC said while it recognized the role played by the Net-Zero Banking Alliance (NZBA) in developing guiding frameworks to help banks set emissions-reduction targets, the foundation was now in place and it had decided to withdraw from the group as it prepares to update its net-zero transition plan…. Global peers including JPMorgan, Citi, Morgan Stanley, Macquarie and Bank of Montreal have all exited the group this year. The group was formed in 2021 to help align the sector with the world's goal of limiting global warming, including by mobilizing more money for environmentally friendly activities and setting targets for members to reduce emissions linked to their business activities. HSBC dropped a 2030 emissions-reduction target in February blaming slow progress towards net zero in the real economy.” REUTERS
Board Leadership in Navigating Volatility
Governance models that prioritize responsiveness, learning, and clarity are proving critical in uncertain times
“Public company boards are facing an unprecedented convergence of destabilizing forces, including geopolitical shocks, inflation, supply-chain disruptions, social unrest, and rapid technological change. At the same time, stakeholders continue to have high expectations for effective board oversight and value creation…. Forward-thinking boards treat volatility as a strategic catalyst rather than a threat. By anticipating issues, developing flexible response frameworks, and thoughtful stakeholder engagement, boards can create a governance framework that anticipates disruption rather than merely reacts to it. Directors who master this proactive approach fulfill their fiduciary duties to the corporation and its shareholders while positioning the company for success during volatile times.” HARVARD LAW SCHOOL FORUM ON CORPORATE GOVERNANCE
What It Takes to Lead in the Boardroom: Insights for Prospective Directors
In today’s evolving governance landscape, the role of a director extends beyond oversight—it demands cultural stewardship, strategic insight, and emotional intelligence
“In today’s new era of governance, board members who can shape and sustain a strong board culture are emerging as enablers of organizational success. The Wharton Alumni for Boards community and Nasdaq Center for Board Excellence convened a panel of seasoned directors to share insights and practical strategies for enhancing board engagement…. Governance is a core driver of an organization’s long-term value and resilience, yet fiduciary duties are carried out in widely varying ways across boards. The panel stressed the importance for prospective directors in conducting thorough due diligence to assess the board’s responsibilities, the board culture, and the degree of influence they can realistically expect.” HARVARD LAW SCHOOL FORUM ON CORPORATE GOVERNANCE
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