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It’s not every day that Italian capitalism can be heralded as a bastion of transparency. But the showdown on May 4 at Telecom Italia’s board meeting between U.S. activist fund Elliott Management and French conglomerate Groupe Bolloré proved to be one such opportunity
Why should a company assure separation of ownership and control, have a competent board of directors, insure a compensation system oriented towards proper behaviour, have effective risk management and work towards professionalising the corporate organisation?
Annual meeting season means it’s also the season for companies to reveal the level of shareholder support received by individual directors on their boards.
When Shigetaka Komori revealed Fujifilm Holdings’s $6.1bn bid for control of Xerox, the 78-year-old chief executive was ready to delay retirement by several years to ensure the takeover’s success.
JPMorgan CEO Jamie Dimon has a much-vaunted track record of promoting women to senior roles on his executive team. But the number of women on the U.S. bank's board of directors has stalled out at two since 2006, despite research showing greater female representation improves long-term returns.
Vodafone Group PLC Chief Executive Vittorio Colao is set to leave his position after reshaping the world’s second-biggest mobile carrier by subscribers over the past 10 years.
The multilateral trading system has been challenged by unilateralist measures and subsequent threats of retaliation. We collect the main events that have shaped the current situation and show which trade flows have been and will potentially be affected by the various measures. We end by discussing possible scenarios moving forward for the EU.
For decades, corporate law played a pivotal role in regulating corporations across the United States. Consequently, Delaware, the leading state of incorporation, and its courts played a central part in corporate law and governance. More than half of publicly traded firms are incorporated in Delaware, and in many law schools in the United States, Delaware corporate law has become virtually synonymous with American corporate law.
The head of Air France-KLM’s (AIRF.PA) Dutch subsidiary rejected as unrealistic suggestions that KLM could somehow abandon the partnership with Air France following a series of costly strikes at the French business.
The outlook for Indian online retailer Flipkart was decidedly gloomy when Kalyan Krishnamurthy became chief executive officer in January 2017. The startup’s valuation was dropping, fundraising was more difficult and Amazon.com Inc. was pledging more than US$5 billion to siphon away customers.
Xerox called off its controversial $6.1bn sale to Japan’s Fujifilm late on Sunday after reaching a truce with activist investors Carl Icahn and Darwin Deason that ends months of infighting and will hand over control of the iconic US company to the rebellious shareholders.
In this post, we provide an overview of the Investor Stewardship Group (the “ISG”) Governance Principles and steps for public companies to consider when evaluating how the principles may be incorporated into their own disclosure and engagement priorities.
May 5th 2018 marked the 200th anniversary of the birth of Karl Marx. We review some economists’ takes on the controversial philosopher’s legacy
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The financial crisis that swept through the global economy 10 years ago has had long-lasting effects on financial landscapes, economies and politics around the globe. The crisis is reaching a new milestone of its evolution — having moved from financial crisis to economic crisis and, finally, approaching possible political crisis. It is a drama in three acts.
Public companies are required for the first time this year to compare the compensation of their chief executive officer to that of the median employee in an annual Securities and Exchange Commission filing. As expected, the pay ratios so far show that CEOs in many cases are making hundreds of times more than the Average Joe and Jane.
Why should public companies be run for the benefit of their shareholders, anyway? It’s not the law, not really. Corporate directors do normally have certain fiduciary duties to shareholders, and shareholders do normally have certain governance rights, but the idea that the sole purpose of a public company is to maximize the stock price for shareholders is mostly a myth.
Musk announced a “thorough reorganization” in a memo to employees Monday, saying Tesla was changing its structure to improve communication, combine functions and get rid of activities that aren’t “vital to the success” of the company’s mission. Last week, a spokesman confirmed one of only four executive officers named in the company’s recent proxy statement was taking time away from the company to “recharge.”
Corporate boards have tried for years to tie chief executive compensation to the results they deliver. The better the company and its shareholders do, the more the top boss should be paid, or so the pay-for-performance mantra goes. In reality, CEO pay and performance often don’t match up, and 2017 was no exception.
Companies are continuing to bring fresh and diverse perspectives into the boardroom and to enhance alignment of board composition with their forward-looking strategies.
Cybersecurity has become one of the biggest concerns for boards and investors. FTSE 350 audit committee chairs and institutional investors recently discussed how boards can best protect their companies—particularly ahead of the new data protection law in May.
Air France-KLM put in place an interim leadership team on Tuesday following the shock resignation of the airline’s previous chief over a pay dispute with staff earlier this month.
In a comprehensive report delivered on March 9, 2018 to three French Government Ministries (Economy & Finance, Justice, and of Ecological Transition), "L’entreprise, objet d’intérêt collectif," Nicole Notat and Jean-Dominique Senard tackle the question of maximizing shareholder value as the goal of a corporation.
Aurora Cannabis Inc will buy rival MedReleaf Corp for $3.2 billion, the companies said on Monday, the biggest deal yet to unify major Canadian marijuana growers.
Pearl Meyer offers its annual Top Five issues for compensation committees. Boards are considering the impact and reacting to the changes brought about by tax reform, diminishing regulation, shifts in political and cultural norms, and an ongoing acceleration of change in business environments. Individually and collectively these factors are demanding that boards be alert and nimble.
The two top advisory firms to public company stockholders are split on a hotly debated Amazon shareholder proposal designed to push the company to consider more women and minorities for board seats.
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