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    1. Union Urges Shareholders to Vote Against Marathon Exec Pay

      Union Urges Shareholders to Vote Against Marathon Exec Pay

      NEW YORK (Reuters) - The Teamsters Union on Monday urged shareholders of oil refiner Marathon Petroleum Corp to vote against an approval on executive compensation, arguing that the company provides outsized and unnecessary exit packages for top leaders. The union said in a letter released on Monday that shareholders should at an April 28 meeting instead vote in favor of a proposal that attempts to rein in the vesting of unearned equity following a change in control...

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    2. SEC's Lee Seeks More Proxy Vote Details from Powerhouse Funds

      SEC's Lee Seeks More Proxy Vote Details from Powerhouse Funds

      (Reuters) - The acting chair of the U.S. securities regulator on Wednesday called for clearer disclosures on how asset managers cast the votes that dominate most corporate elections. Securities and Exchange Commission acting chair Allison Herren Lee said disclosure rules have failed to help everyday investors especially as they focus more on environmental and social issues...

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    3. Starbucks's Mellody Hobson Says 'Civil Rights 3.0' Is Brewing

      Starbucks's Mellody Hobson Says 'Civil Rights 3.0' Is Brewing

      Mellody Hobson has seen corporate pledges to increase workplace diversity come and go over the years. Starbucks Corp.'s new chairwoman believes this time is different. As co-CEO and president of minority-run, asset-management firm Ariel Investments LLC, Ms. Hobson is one of the country's most prominent Black investors. As of Wednesday, she will also be the only Black chairwoman of an S&P 500 company, when she assumes that role at Starbucks...

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    4. Activist Investor Cevian Urges inclusion of ESG Targets in Compensation Plans

      Activist Investor Cevian Urges inclusion of ESG Targets in Compensation Plans

      (Reuters) - Swedish activist investor Cevian Capital urged on Wednesday that companies should include Environmental, Social, and Governance (ESG) targets in their management compensation plans. Against a backdrop of growing public and political concerns about climate change and economic inequality, companies are under increasing pressure to show they are taking greater responsibility for how they generate their profits...

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    5. Morris W. Applewhite appointed to Credit Suisse Holdings USA Board of Directors

      Morris W. Applewhite appointed to Credit Suisse Holdings USA Board of Directors

      Credit Suisse is pleased to announce the immediate appointment of Morris W. Applewhite as a Non-Executive Director to the Board of Directors for Credit Suisse Holdings (USA), Inc. ('CSH USA'). Applewhite brings to the Board of Credit Suisse's US legal entity decades ...

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    6. U.S. Senate Republicans Ask SEC to Reject Nasdaq Diversity Rules

      U.S. Senate Republicans Ask SEC to Reject Nasdaq Diversity Rules

      (Reuters) - Republican members of the U.S. Senate's Banking Committee on Friday urged securities regulators to reject corporate diversity rules proposed by Nasdaq Inc. In a letter to the head of the U.S. Securities and Exchange Commission, the Republicans said the effort by the exchange operator to set boardroom diversity requirements for listed companies would interfere with boards' duties to their shareholders, violate securities disclosure principles and could impose costs on companies...

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    7. Third Point Calls on Intel to Explore Strategic Alternatives

      Third Point Calls on Intel to Explore Strategic Alternatives

      Activist hedge fund Third Point LLC pressed Intel Corp. to make sweeping strategic changes after a year in which the U.S. semiconductor giant suffered more product delays and lost its rank as America's highest-valued chip company. In a letter Tuesday to Intel Chairman Omar Ishrak, Third Point Chief Executive Daniel Loeb said Intel's woes could threaten the U.S. tech industry and urged the chip maker to consider alternatives, including selling some of its acquisitions and splitting its design and manufacturing operations -- a move that would end Intel's long-held status as America's ...

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    8. Public Storage Appoints Three New Independent Trustees

      Public Storage Appoints Three New Independent Trustees

      Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including: Shankh Mitra, Chief Executive Officer, Chief Investment Officer and director of Welltower Inc. David Neithercut, former President and Chief Executive Officer and current Board member of Equity Residential...

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    9. Exxon Under Pressure From New Activist Fund

      Exxon Under Pressure From New Activist Fund

      Exxon Mobil Corp. is facing the threat of a proxy fight from a newcomer activist investor with a sustainability bent that wants the beleaguered energy giant to act faster to remake itself. Engine No. 1 LLC, an investment firm launched by Chris James last week, is preparing to send a letter to Exxon's board urging the Irving, Texas-based company to focus more on investments in clean energy while cutting costs elsewhere to preserve its dividend...

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    10. Starboard Says it Now Owns 9% of ACI Worldwide, Stock Gains

      Starboard Says it Now Owns 9% of ACI Worldwide, Stock Gains

      BOSTON (Reuters) - Activist investor Starboard Value boosted its stake in ACI Worldwide Inc to 9%, according to a regulatory filing made on Monday that helped push the payment systems company's stock up more than 3% in afterhours trading. The New York-based hedge fund now owns 10.5 million shares in the Naples, Florida-headquartered company which is worth $3.7 billion, the filing said...

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    11. Activist Trian Fund Management Takes Stake in Comcast

      Activist Trian Fund Management Takes Stake in Comcast

      Activist investor Trian Fund Management LP has taken a stake in Comcast Corp. in a bet that the cable giant's shares are undervalued. Trian has accumulated about 20 million shares in Philadelphia-based Comcast, for a roughly $870 million stake or about 0.4% of the company, a person familiar with the matter said. Comcast's market value stood at just under $200 billion Monday afternoon...

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    12. AT&T Exploring Deal For Its DirecTV Unit

      AT&T Exploring Deal For Its DirecTV Unit

      AT&T Inc. is taking a fresh look at its DirecTV business, according to people familiar with the matter, exploring a deal for a service wounded by cord-cutting. The telecom and media giant and its advisers at Goldman Sachs Group Inc. have been in talks with private-equity suitors about the satellite TV unit, some of the people said...

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    13. Majesco: Enters Into Amended Agreement To Be Acquired by Thoma Bravo

      Majesco: Enters Into Amended Agreement To Be Acquired by Thoma Bravo

      Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has signed an amended definitive agreement to be acquired by Thoma Bravo, L.P., a leading private equity firm focused on the software and technology-enabled services sectors, in a transaction valuing the company at $729 million. Following the closing of the transaction, Majesco will operate as a privately held company...

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