Latinos are seeing the least amount of growth in corporate board representation, new findings show...
NEW YORK — Activist investor Ancora Holdings Group is pushing for the removal of both the chairman and the chief executive officer at Kohl's Corp. for what it calls a botched strategy and dramatic sales declines. Ancora, which owns 2.5% of outstanding shares in the department store chain, has pressured the company over the past 18 months to turn things around and has been able to get three of its directors installed on the company board...
The pressure is back on at Kohl’s Corp. and this time it’s from longtime shareholder Ancora Holdings Group, which owns approximately 2.5 percent of the company’s stock. For the past 18 months, Ancora has kept its view on Kohl’s and its leadership quiet while privately communicating recommendations for reversing the trajectory of the business...
Management did not expect this move, it quickly adopted a shareholder rights plan (also known as a poison pill).
Under Gary Gensler’s leadership, the Securities and Exchange Commission is looking at a sweeping range of reforms . Wednesday morning, the SEC chair welcomed a panel of investment experts to discuss: agency proposals on activist investors’ disclosures; swap position reporting; misleading mutual fund names ; and corporate financial reports...
Wall Street icon Carl Icahn has a warning for his fellow investors: “The worst is yet to come.” Speaking on Wednesday at MarketWatch’s Best New Ideas in Money Festival via a remote feed, the 86-year-old Icahn delivered that grim assessment of the economy, but also spoke of areas of opportunity for investors. It’s not hard to see why the billionaire investor could offer such a pessimistic view: The stock market saw its worst first half of the year since 1970...
BOSTON--(BUSINESS WIRE)--Chamiers Global LLC (“Chamiers”), an entity that beneficially owns an interest in Limeade, Inc. (“Limeade” or “Company”) (ASX:LME), announces that it has sent a letter to the Company’s Board of Directors. Chamiers believes Limeade is a highly recurring revenue business in a growing market that trades at a deep discount to Chamiers’ assessment of its intrinsic value...
As the Securities and Exchange Commission enters the first month under a new rule that eases proxy access for shareholders’ corporate director nominations, National Legal and Policy Center is announcing its first recommendation for a seat on a corporate board. The government and corporate ethics watchdog, which owns shares in dozens of major companies, has proposed the nomination of Donald van der Vaart to the board of the Exxon Mobil Corporation...
Managing corporate directors often falls to general counsel, but lawyers in charge of those duties are generally pessimistic about their effectiveness, according to a survey of 125 general counsel released Tuesday. Just under half (49%) of surveyed general counsel believe they have what it takes to identify skills gaps for open director positions, Gartner found in its 2022 Corporate Governance and Board Management Benchmark...
Nordstrom Inc. adopted a poison pill Tuesday in an attempt to avoid any hostile takeover attempts following the flurry of such bids that buffeted Kohl’s Corp. for months. The Nordstrom board approved the move, formally known as a shareholder rights plan, days after El Puerto de Liverpool SAB, a Mexican company that operates an upscale department store chain, disclosed a 9.9% stake in the US retailer. That makes Liverpool the second-largest shareholder after the Nordstrom family...
Female directors hold approximately 29 percent of board seats in continental Europe. When including companies in the U.K, this increases the average to 31 percent, in both cases beating the global average of 27 percent with a 4-percentage-point increase since 2019...
A conservative investor, with backing from Peter Thiel and Bill Ackman, has two new targets in his anti-E.S.G. campaign. Yesterday, Vivek Ramaswamy sent letters to the C.E.O.s of Apple and Disney, urging them to refrain from making political statements on behalf of their companies, or hiring decisions based on race, sex or political beliefs...
(Reuters) - Zendesk Inc shareholders have approved a $10.2 billion planned acquisition of the software maker by a group of private equity firms led by Hellman & Friedman and Permira, the company said on Monday. The company in June agreed to be taken private in a deal that would be see investors receive $77.50 per share in cash after persistent pressure from activist investor Jana Partners. The firm said that the deal would close in the fourth quarter of the year...
(Reuters) - Environmental groups are asking Procter & Gamble Co investors to vote against its chief executive and two directors at its annual meeting next month because the company has not improved its forest sourcing, according to a document seen by Reuters...
(Reuters) - The chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. retail banks will be grilled this week by lawmakers on a slew of issues, from the state of the economy to their stances on hot-button issues including abortion and fossil-fuel lending...
Starboard Value LP has taken around a 9% stake in Wix.com Ltd. and has spoken to the company about how it can improve its operations, Reuters reported, citing people familiar with the matter...
Uber Technologies Inc. is responding to a cybersecurity breach after a hacker claimed to have gained widespread access to the company’s computer systems. “We are currently responding to a cybersecurity incident. We are in touch with law enforcement and will post any additional updates here as they become available,” a Twitter account for the ride-hailing company tweeted Thursday night...
For 50 years there has been an impassioned debate about the appropriate aims and responsibilities of companies. Some side with Milton Friedman’s influential viewpoint, asserting that the only responsibility of business is to generate profits for shareholders. Others believe companies have broader responsibilities to society and the environment. Lately, even state legislatures have weighed in, proposing to ban financial managers who take ESG criteria into account. But while the battle of words continues, investors, customers, employees, and the public have moved forward...
Former Atlantic Records A&R Dorothy Carvello has used her status as a shareholder in Warner Music to try to force the music major to share any records it has on sexual misconduct allegations – and other claims of bad practice – that have been made within the company...
Twitter Inc. shareholders appear to be shrugging off the impact of whistleblower Peiter Zatko’s Senate testimony on Elon Musk’s attempt to back out of his $44 billion deal to buy the social-media company...
Twitter shareholders on Tuesday voted to approve Elon Musk’s $44 billion acquisition. The firm’s legal battle with the billionaire will ultimately determine whether the deal goes through. The company held its special meeting at 10 a.m. Pacific time on Tuesday. The company said that based on preliminary vote counts, shareholders approved the sale to Musk, as well the executive compensation for Twitter executives related to the merger...
The Board of Directors at Nike Inc, has voted against a shareholder proposal to halt its sourcing of goods and raw materials from China as concerns surrounding human rights violations in Xinjiang continue to mount...
Twitter shareholders on Tuesday will finally vote on whether to approve Elon Musk’s $44 billion acquisition. Though they’re almost sure to support the sale, the firm’s legal battle with the billionaire will ultimately determine whether the deal goes through. The company will hold its special meeting at 10 a.m. Pacific time on Tuesday...