Director's Domain: Corporate Governance News & Board Insights
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June 01, 2023
More annual meetings and shareholder activism in the news. This week, Glass Lewis recommends that Toyota shareholders vote against board chair Akio Toyoda, citing a lack of board independence. Freshpet’s largest investor demands board and governance changes, and Carl Icahn gets one of his activist candidates elected to the Illumina board.
In other news, Icahn gains ground at Illumina but loses money over Hindenburg Research accusations; PwC Australia faces a leadership overhaul amid a tax leak scandal; embracing the idea of an “imperfect” CEO; and a new book sheds light on the achievements of women in the boardroom.Read On
Browse Our Most Recent Issues
May 25, 2023 -
This year has already seen record numbers of shareholder-led proposals on social and environmental issues. This week alone, Carl Icahn’s battle with Illumina comes to a head, Amazon faced a record 18 shareholder proposals, and Shell’s annual meeting was disrupted by climate protests for over an hour. Illumina’s vote is still to come, but Amazon’s and Shell’s proposals were voted down as investors backed the board. Quality discourse over ESG issues is critical, and activist pressure isn’t going away. But do these proposals move the needle? Or do they simply create more noise?
In other news, Morgan Stanley’s CEO succession plan draws questions on diversity in leadership; Panera Bread shakes up their leadership and board influence as the company announces its renewed plans to go public; and check out these recommendations your board can use for navigating ESG pressures.Read On
May 18, 2023 -
Twitter is getting a new CEO. Who is Linda Yaccarino and why did Musk pick her? And as she takes the stop spot, what does it mean? According to some analysts, the breadth and depth of Twitter’s problems may be more than a new leader at the helm can solve. Meanwhile, Tesla shareholders are demanding good governance and better oversight from Musk. Will they get it?
In other news, Wells Fargo agrees to pay out a billion dollars to settle its 2016 lawsuit; Shake Shack faces pressure from activist shareholders; What makes activists tick in 2023; How boards are responding to ESG pushback in 2023; And meet Google’s new public sector board of directors.Read On
May 11, 2023 -
Boards understand the connection between Governance and AI: A thorough understanding of its risks and oversight of its use within a business is critical. But AI’s impact ripples through Environmental and Social concerns, too, potentially affecting everything from carbon footprint to diversity of people and ideas. A recent examination of boards and AI oversight explores the ESG connection. The White House weighed in this week on the complexities of regulating AI, and LinkedIn founder Reid Hoffman talks about his perspective on AI as a member of Microsoft’s board in this week’s Washington Post Live.
In other news, firing leadership after a scandal can backfire; check out the need-to-know items regarding corporate governance; Ten ways your board can boost corporate sustainability; and The Church of England becomes a shareholder activist.Read On
May 04, 2023 -
The SEC’s proposed new rules for cybersecurity have boards talking about their role in oversight. This week, Harvard Business Review proposes that boards might be looking at cyber governance all wrong. Find out how boards are talking about cybersecurity, and what they should be talking about instead. Also, what’s a sure sign that companies are getting serious about cybersecurity? Hiring the leading national expert on decoding intelligence and cybersecurity, for one thing. That’s what General Motors just did.
In other news, J.P. Morgan buys First Republic Bank after its failure; the FDIC investigation into Signature Bank points the finger at the bank’s board and leadership; Revlon overhauls its board of directors; more women in the boardroom often equals more profits; and too many people in the boardroom may hurt effectiveness.Read On
April 27, 2023 -
Succession planning is back in the headlines this week as the longtime CEO of NBCUniversal resigns in the wake of complaints about inappropriate conduct. Does the company have a plan? And a new episode of The Journal. podcast dives into the world of LVMH chair Bernard Arnault and his long game for succession.
In other news, what happens when Disney files suit against a sitting governor?; a look at the partnership between Apple and Goldman Sachs; big tech companies see stock surges with new earnings reports; why AI governance starts in the boardroom; and navigating activist investor campaigns during the 2023 proxy season.Read On