All Boards & Shareholders articles – Page 17
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Blog
Risk reporting to the board
On the heels of Jim DeLoach’s “Six Principles for Improving Board Reporting,” Richard Steinberg offers four more principles regarding board risk oversight to ensure effective risk management, establish who is responsible for it, put board reporting in its proper context, and set channels of communication.
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Article
How CCOs went from a board-level afterthought to a strategic partner
In a perfect world, chief compliance officers should not be an afterthought for the board of directors, but rather a strategic partner. Joe Mont recaps a CW 2016 panel discussion on strategies CCOs can take to gain the ear, if not mindshare, of directors.
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Blog
Former CalPERS CEO gets four years in prison
A California federal judge yesterday sentenced the former chief executive officer of the California Public Employees Retirement System to four years and six months in prison for engaging in a bribery and corruption scheme.
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Blog
Seven myths of boards of directors—part II
Last month, Rick Steinberg looked at myths around corporate governance, including accusations levied by some institutional investors and others. Here he looks at more such myths, with analysis and insight into which claims are on point—and which are not—along with how some accusers appear to be seeking to serve their ...
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Blog
Walmart prevails in shareholder FCPA-related derivative case
Walmart’s board of directors successfully moved to dismiss a shareholder FCPA-related derivative claim, in which shareholders accused the directors of breaching their fiduciary duties in connection with a massive bribery and corruption scandal at the retail giant’s Mexico operations. Jaclyn Jaeger reports.
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Blog
How the U.K.’s “shareholder spring” has put compliance in the driver’s seat
As the United Kingdom’s “shareholder spring” subjects numerous top-index firms to repudiations of carefully planned executive compensation plans, Stephen Davis and Jon Lukomnik discuss how the trend of compliance as a value creator and as the primary method of enforcing good behavior is becoming too big to ignore.
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BlogOf power and responsibility
With great power comes great responsibility. The Norwegian Oil Fund already knows that, but it appears the company will give the entire world a responsiblity lesson as it takes more interest in the corporate governance policies of those firms in which it invests. The Man From FCPA Tom Fox has ...
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Blog
Telenor offers lessons on joint ventures
A report published last month by Deloitte details how Norwegian telecommunications company Telenor handled its 33 percent ownership in VimpelCom. Although the report did not find any evidence that employees engaged in corrupt activity, it did uncover several internal weaknesses in Telenor. Jaclyn Jaeger looks at lessons learned.
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ArticleBleeding out: Theranos oozes with corporate governance lessons
A year ago, Theranos was a Silicon Valley health tech “unicorn” praised for breakthrough advancements in blood testing. Now it’s under civil and criminal investigation for defrauding investors. The role Theranos’ board has played in this is already shaping up to be a pointed object lesson for board best practices ...
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BlogWomen on boards: non-executive progress, executive stagnation
A new study of female representation on boards ranks Norway first, with women comprising, on average, 38.7 percent of total board membership. Switzerland ranks dead last, with average representation of women at just 16.1 percent. Paul Hodgson provides an in-depth look at the results.
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Article
Is this U.K. Shareholder Spring III?
Amid numerous shareholder revolts at U.K. companies over executive pay, Paul Hodgson examines how, since pay votes became binding two years ago, the shareholders themselves are wasting no time to exercise their power in which might be less of a demonstration and more of a revolution.
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Blog
Mutual funds call for corporate board accountability
As proxy season begins, holding boards accountable is the new black, and issues such as proxy access and dual-class companies are giving critics and activist shareholders new avenues for holding corporate board members’ feet to the fire. More from Stephen Davis and Jon Lukomnik.
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Blog
Study: CEO pay had lowest increase since financial crisis
Total median CEO pay, excluding pensions, at large capital U.S. companies grew just 3.9 percent, the lowest increase since the financial crisis of 2008. That’s the conclusion drawn in a new study by ISS Corporate Solutions, a subsidiary of Institutional Shareholder Services, a leading proxy advisory firm.
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Blog
Seven myths of boards of directors
Various myths surround corporate governance, especially when it comes to the accusations levied by institutional investors and others on the governance scene. CW columnist Rick Steinberg examines three such myths in the first of a two-part series, as he addresses to what degree accusers are seeking to hold boards to ...
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Blog
Nasdaq acquires Boardvantage
Nasdaq this month entered into a definitive agreement to acquire Boardvantage, a board portal solution provider that also specializes in leadership collaboration and meeting productivity, for $200 million. The acquisition of Boardvantage, along with the recently closed purchase of Marketwired, is expected to strengthen Nasdaq's position as a global ...
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Blog
SEC requires ExxonMobile, Chevron climate change resolutions
The SEC has denied efforts by ExxonMobil and Chevron to exclude shareholder resolutions seeking additional disclosures related to climate change. The decision was detailed in recent no-action letters issued by the Division of Corporation Finance. A coalition of investors want the companies to “stress test” and disclose the effect ...
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Blog
Under investor scrutiny, corporate governance evolved into a crucial value generator
Title: Recent statements from big, maRecent statements from big, mainstream investment firms underscore just how far corporate governance has evolved from having once been a compliance exercise about proxies to a fundamental contributor to risk management and value creation. And as more funds integrate environmental, social, and governance factors into ...
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Article
Buffett vs. Zuckerberg: Does CEO age matter to investors?
Plenty of research supports the notion of mandatory retirement age for board members, but what about MRPs for CEOs? Does imposing an age limit on top executives really drive better long-term organizational performance? Shareholders, it turns out, seem to prefer experience to youth.
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Article
GE unveils new approach to investor reporting
GE might seem an unlikely company to take a lead in the push to simplify financial disclosures. A multinational conglomerate with a long list of business lines, its inherent complexity might seem to make it ill-suited for such a task. And yet, GE is aggressively taking the lead, notably with ...
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Article
Pax World’s Joe Keefe on how ESG continues to go mainstream
Image: The 2016 proxy season, building upon trends that emerged from last year’s annual meetings, may prove to be pivotal for investors focused on sustainability, diversity, and environmental issues. “I’ve seen more uptake in the last 18 months than I’ve seen in the previous 17 years,” says Joe Keefe, president ...