Holding individual board members accountable can be an effective tool to impact corporate responsibility, according to Ray Cameron, head of investment stewardship of the Americas at BlackRock Inc. (BLK)...
Germany’s coalition government will introduce a mandatory quota for the number of women working as senior management in the country’s listed companies, in a move hailed as a “historic” step towards sexual equality in German boardrooms...
When Janus Capital and Henderson Global Investors agreed a deal in 2016, it was touted as being transformative for the two struggling midsized asset managers...
Cracker Barrel Old Country Store® (Nasdaq: CBRL) ("Cracker Barrel" or the "Company") today filed definitive proxy materials with the Securities and Exchange Commission in connection with the Company's upcoming Annual Meeting of Shareholders to be held on November 19, 2020...
BOSTON (Reuters) - Corteva Inc's board of directors decided to back chief executive officer James Collins after activist investor Starboard Value LP took issue with the performance of the agricultural products company's management, people familiar with the matter said on Thursday. Corteva, valued at $27 billion, became a publicly traded company last year ...
South Korea is pushing for its most significant reform of corporate governance since President Moon Jae-in took office, a move that could add transparency to top decision-making at large conglomerates that dominate the economy. The conglomerates, known as chaebols, propelled South Korea’s rise as an export powerhouse...
PepsiCo and Nuance Communications yesterday were given two of the most prestigious honors at the 13th annual Corporate Governance Awards...
We are writing to demand Elazar Rabbani immediately resign as CEO and from the Board of Directors (the “Board”) of Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”). Harbert Discovery Fund, LP and Harbert Discovery Co-Investment Fund I, LP (collectively “HDF”) currently own approximately 11.74% of the outstanding shares of Enzo, making us the Company’s largest shareholder...
While the COVID-19 crisis has fundamentally altered the business environment across industries, only 6% of companies in the Russell 3000 Index have announced changes to their incentive compensation plans to date...
Investors have been using shareholder resolutions to voice concerns and shape corporate practices to combat racial injustice. Fund companies, with their huge assets and meaningful stakes, can leverage their proxy votes to support these changes. Still, some are more supportive than others...
The German stock exchange operator Deutsche Boerse DB1Gn.DE said on Tuesday it would acquire an 80% stake in Institutional Shareholder Services (ISS) for about $1.8 billion, the latest in a flurry of deals to sweep across the exchange industry...
A federal bankruptcy judge approved a controversial $8.3 billion settlement late Tuesday between Purdue Pharma and the Department of Justice...
Among the heavy hitters rounded up by Ackman for his Pershing Square Tontine Holdings Ltd investment vehicle, according to the filings, are mutual fund giant T. Rowe Price Group Inc, investment firm Guggenheim Partners, hedge fund Baupost Group, Canadian pension fund Ontario Teachers and private equity firm Blackstone Group Inc. Tontine raised $4 billion in an initial public offering (IPO) in July...
(Bloomberg) -- The investors pushing for changes at CoreLogic Inc. have won three seats on the board of the data provider after a lengthy battle that has dragged out since June. CoreLogic said in a statement that preliminary tallies show that Cannae Holdings Inc. and Senator Investment Group have won the necessary support for three of their nominees: Steve Albrecht, Wendy Lane and Henry Winship. The statement confirmed an earlier Bloomberg News report...
Longtime hedge fund manager and activist investor Daniel Loeb, manager of Third Point, continued to bet on Disney and e-commerce giants in the third quarter, and added new positions in Pinterest, Palantir and Microsoft...
Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced that its Board of Directors has unanimously rejected an unsolicited proposal received from Bow Street LLC (“Bow Street”) on November 4, 2020 to acquire all of the Company’s outstanding shares for between $9.50 and $10.00 per share in cash...
Elliott Management, which last year took a $3.2 billion stake in AT&T and pushed the company to sell some assets, has itself exited the telecommunications and media company, according to a regulatory filing on Monday. The New York-based hedge fund liquidated its investment when it sold 5 million shares during the quarter that ended Sept. 30. It had first bought into the stock during the third quarter 2019, according to another filing...
WASHINGTON — Jay Clayton, a former Wall Street lawyer who has headed the Securities and Exchange Commission as the financial markets’ top regulator during the Trump administration, is leaving the position at year’s end, the SEC announced Monday. Clayton’s term runs through mid-2021. It is common practice for agency heads or Cabinet members appointed under an outgoing administration to leave early...
Biglari Capital Corp. (together with its affiliates, "Biglari Capital"), one of the largest and longest-standing shareholders of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), beneficially owning approximately 8.7% of the Company's outstanding common stock, today issued the following statement in support of its nominee for election to the Cracker Barrel board of directors (the "Board") at the Company's upcoming annual meeting of shareholders, scheduled for November 19, 2020...
The activist investor Starboard Value acquired a 9% stake in Merit Medical. Merit Medical is a manufacturer of disposable medical devices. Starboad was given some access to the board and was able to push for a sale of the company...
Korean Air Lines Co Ltd 003490.KS plans to spend 1.8 trillion won ($1.62 billion) to become the top shareholder of indebted Asiana Airlines Inc 020560.KS, in aviation's first major consolidation since COVID-19 brought the industry to its knees...
Global banking giant HSBC Holdings PLC has made clear that its business destiny is in China. Its board, however, remains an Anglo-American affair. The London-based, Asia-focused bank appointed three board members along with a chief legal officer and a chief operating officer in the past 12 months. All are American. Just two out of 14 board members are Chinese....
A civil court trial has begun in Japan over Nissan’s demand for 10 billion yen (£73 million) in damages from its former chairman, Carlos Ghosn. T he automaker has sued Ghosn over what it says is harm suffered from various types of alleged financial misconduct. Ghosn jumped bail late last year while awaiting a separate criminal trial in Japan. Nissan carried out a robust and thorough internal investigation that included external lawyers...
(Bloomberg) -- Aecom’s standstill agreement with activist investor Starboard Value expires next week, setting the stage for a potential boardroom battle at the engineering services firm for a second year in a row. The New York-based hedge fund, which owns a roughly 3.7% stake in Aecom, butted heads with the company in June over the appointment of new Chief Executive Officer Troy Rudd. The dispute resulted in Starboard Managing Member Peter Feld resigning from the board in protest...