Director's Domain: Corporate Governance News & Board Insights

September 21, 2023 -

After months of minimal movement, IPO activity came roaring back over the last week with some high-profile, high-valuation Wall Street debuts. Chipmaker Arm, valued at $60B, began trading a week ago. Instacart and Klaviya both saw their shares jump with IPOs this week, and Databricks looks to be testing the waters for its IPO with another $500 million round of funding. It’s too soon to tell how these high-profile deals will affect the markets over the next year, but the spike of activity has been a change of pace. 

In other news, Rupert Murdoch announces his retirement; the Rock and Roll Hall of Fame Foundation board dismisses Jann Wenner after controversial remarks; Toshiba goes private; and growth in the number of women on boards is declining.

September 14, 2023 -

Investors may have concerns about ESG initiatives, but proposed new regulations and increased watchdog efforts this week indicate that pressure for environmental accountability from corporations isn’t going anywhere. With the resignation of CEO Bernard Looney at BP, there are questions about whether environmental initiatives championed by Looney will be minimized to assuage shareholders concerns. At the same time, a California bill is proposing more stringent carbon disclosure requirements than the SEC for companies doing business there. And the UN-backed Science Based Target Initiative is reorganizing its structure and its board to gain more clout in ensuring that corporations are honest about Net Zero emissions claims. 

In other news, tech leaders go to Washington to discuss AI with lawmakers; Howard Schultz resigns from the Starbucks Board; Susan Rice rejoins the Netflix board; Airbnb taps Google’s AI expert for its board; and 10 things the board should keep in mind during an internal investigation.

September 07, 2023 -

What does the future of board work look like? We know it will involve AI in some way. This week, new articles cover everything from AI and boardroom decision making to a study on board best practices around AI. Don’t miss Boardspan’s deep dive into AI and Governance in our September 27 webinar. 

AI aside, board composition is beginning to change, not just in board diversity but in the age of candidates looking for non-executive board positions. For the next generation of board members, breaking into a circle that is largely based on who you know isn’t easy. The Financial Times covers some of the ways that aspiring directors are gaining governance experience.

In other news, Walgreens’ CEO is leaving; Elon Musk’s borrowing habits with his companies; Cybersecurity impacts executive pay; and seven ways boards can improve corporate governance.

August 31, 2023 -

Impropriety at a company can sink a reputation, but so can the appearance of wrongdoing. Shareholders at Under Armour filed suit against founder Kevin Plank, alleging that he divulged confidential company information to MSNBC anchor Stephanie Ruhle while she was a Bloomberg reporter. Other accusations include giving Ruhle use of his private jet and having a private phone line between him and Ruhle. While Blank insists that the relationship is platonic and he did nothing illegal, allegedly divulging company information to a reporter is serious business. Whether or not Plank is liable, in a world where activist shareholders will seize any opportunity to make noise at a company, even appearances leave the company exposed to risk. Diligent board oversight is a must.

In other news, a look at Bloomberg’s nearly unprecedented full board refreshment; Leonard Lauder steps down from the Estee Lauder board after three decades; The Fed ramps up demands on regional banks; and the pathway for CISOs to become board members.

August 24, 2023 -

What do you know about AI and Governance? Even if you have some information, it’s likely that you want more. Boards are hungry for trusted advice on how to proceed as AI begins to come of age, technologically speaking. This week, new thoughts on AI decision making in the boardroom, balancing AI adoption with security and privacy concerns, and AI risk oversight. And register to hear Dr. Ayesha Khanna, one of the world’s leading experts on business and AI in our second Boardspan Webinar.

In other news, the Federal Trade Commission joins the Department of Justice to crack down on directors serving on boards of competing companies; challenges faced by overlapping directors; and understanding new SEC Breach Notification Rules and the National Cybersecurity Strategy Implementation Plan.