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Mitel Networks Corp., one of Canada’s oldest and most valuable publicly traded technology companies, is set to be taken private after accepting an all-cash US$2-billion offer from private equity firm Searchlight Capital Partners LP.
Recent tech IPOs such as Snap, Square Inc., Blue Apron, Stitch Fix Inc. and, most recently, Spotify, have all made headlines. In terms of corporate governance, board classification and gender composition are typically a major focal point in these initial offerings. While they don’t have to immediately meet the same criteria as long-time public companies, companies that IPO must eventually comply with standard rules and regulations, and their shareholders expect them to align with best practices.
Most of the basic principles of corporate governance apply to all types of corporations. Colleges and universities play a unique role in society, as they are the primary resource for providing the foundation and education for society’s next generation of businesses and leaders. Colleges and universities are responsible to many different people and entities, which places a heavy focus on the accountability and responsibilities of the board of directors.
A new analysis by the parliamentary budget officer estimates Ottawa will post a $22.1-billion shortfall this fiscal year, which would be $4 billion more than the government’s projection of $18.1 billion in its February budget.
Nothing obliges a Liberal government to act on any resolution of a Liberal convention. Party policies in Canada are not determined by party members, but by the party leader. That goes double for the Liberal party as it has evolved under Justin Trudeau, which is essentially a free-floating personality cult.
Restaurant Brands International Inc. announced a plan to improve customer experience and improve sales at its Tim Hortons operations as it reported better-than-expected financial results, despite what it called soft results at the coffee shop chain.
Nasdaq Inc on Monday said it will ask regulators to let it give thinly-traded companies that list on its main U.S. stock exchange a choice as to whether their shares can be traded on other exchanges, with the aim of making it easier for investors to buy the stocks.
The chairman of Deutsche Bank supports plans for another restructuring of the lender’s investment bank in a move to cut back under-performing areas, according to members of the bank’s executive and supervisory board.
Recently in In re Tesla Motors, Inc. Stockholder Litigation, the Delaware Court of Chancery (in an opinion by Vice Chancellor Slights) declined to grant defendants’ motion to dismiss because the court found it reasonably conceivable that Elon Musk, a 22.1% stockholder of Tesla Motors, Inc., was a controlling stockholder and therefore Tesla’s 2016 acquisition of SolarCity Corporation (of which Musk was the largest stockholder and founder) would be subject to a stringent entire fairness review.
Edward Lampert is once again carving up Sears Holdings Corp. in a bid to save his retail empire, proposing that his hedge fund purchase the Kenmore appliance brand and other Sears units after the struggling company was unable to find other buyers.
Board compensation is always a hot topic for directors, with outside director compensation, lead director compensation, equity grants, the actual value of outside director pay and instances where companies have been sued for excessive outside director pay all front-burner topics.In the video above, Corporate Board Member recently sat down with Bob Romanchek, partner with Meridian Compensation Partners to talk about board compensation.
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Institut sur la gouvernance (IGOPP)
April 23, 2018 10:03 AM
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Survey finds that an increasing number of FTSE 100 companies are appointing chief executives from outside Britain.
When we speak of the economy, we tend to talk of it in terms of its health. A declining economy is lethargic and sluggish, while a growing one is vibrant and robust. An often overlooked, yet integral, contributor to the health of the Canadian economy is the pharmaceutical industry and the partnerships it creates – partnerships to develop new innovative medicines that boost our physical health and improve the health of our bottom line.
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Most board chairs are experienced leaders. Half the chairs of the S&P 500 double as their companies’ chief executives, and the vast majority of the rest are former CEOs. But the close association of the two positions creates problems. It’s difficult for a board led by the CEO to serve as a check on that CEO—which is precisely why, after the corporate scandals of the 1990s and early 2000s, more companies began separating the roles.
CEO Dara Khosrowshahi says Uber is "just getting started" when it comes to improving diversity and inclusion.
Deutsche Bank has appointed Frank Kuhnke as its new chief operating officer, the German bank said on Tuesday, in the latest reshuffle of its senior management.
Canada’s 82 Toys “R” Us stores are set to remain open for business as Fairfax Financial Holdings Ltd. prepares to take control of the specialty retailer of toys and baby gear.
The country is freeing up its legislation on drugs in general but liquor remains a five-case monopoly following the unanimous ruling
After 11 months as chief, Jim Hackett has yet to satisfy those looking for a clear articulation of a strategy. But big moves could be in the offing.
Canadian securities regulators are vowing to take a hard look at whether companies should be allowed to pay fees to investment dealers for securing favourable shareholder votes in proxy contests and other corporate transactions.
Uncertainty seems to be giving way to optimism with a renegotiated North American Free Trade Agreement looking more “doable” now than it did months ago, with some saying an announcement could come in the next couple of weeks.
As CEO of Accenture North America, Julie Sweet wants to accomplish what most other executives at major companies have not: Making sure men and women are represented equally in the company's ranks.
In 2010, Roger Carr, then-chairman of British confectionery Cadbury, waged a grueling five-month battle before losing control of the company to Kraft Foods. “At the end of the day,” he said, “there were simply not enough shareholders prepared to take a long-term view of Cadbury and prepared to forgo short-term gain for longer-term prosperity.”
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Institut sur la gouvernance (IGOPP)
April 23, 2018 10:08 AM
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Starbucks Corp. has had its share of challenges since CEO Kevin Johnson took the helm a year ago. Its annual same-store sales growth in 2017 was its weakest since 2009, and traffic largely has been sluggish at its North American restaurants.
The Ontario government’s Fair Hydro Plan reduced Ontarian’s electricity bills by about 25%. But the government’s books don’t reflect the costs. The Auditor-General of Ontario says the government used “bogus” accounting to hide the debt from their books. Here’s how.
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