Risk: Page 27
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geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Calpers Cites Another Baker’s Dozen
The California Public Employees’ Retirement System has singled out directors at another 13 companies from whom it will withhold votes. They include nominees at Gannett, Echostar, 3M, Colgate-Palmolive, and United Parcel Service.As in most previous cases, the nation’s largest pension fund especial...
By Stephen Taub • May 5, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Safeway Adds Independent Directors
Safeway Inc. is the latest company to cave in to shareholder pressure regarding its corporate governance practices.The grocery giant announced that it will name three independent directors to replace George Roberts, James Greene Jr., and Hector Ley Lopez.Roberts and Greene, who have served on the...
By Stephen Taub • May 4, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Making the Grade
Which are the best-governed companies in America? According to GovernanceMetrics International, they include 3M, Intel, McDonald’s, Pfizer, and Target. These heavyweights, along with 13 other, received a score of 10 out of 10 in GMI’s latest report on corporate-governance practices.The study, whi...
By Kate O'Sullivan • May 4, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Three More Companies Split Top Jobs
Seagate Technology has become the latest of a growing number of companies to separate the roles of the chairman and chief executive officer.The maker of hard-disk drives announced that Bill Watkins, currently president and chief operating officer, will take over as CEO and president on July 3, at...
By Stephen Taub • May 3, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Teachers’ Fund Joins Calpers Effort
The California State Teachers’ Retirement System (Calstrs) will join the California Public Employees’ Retirement System (Calpers) and withhold votes from a number of directors up for election, according to Reuters.The proxy-vote positions of the two institutional investors are sure to overlap, sa...
By Stephen Taub • April 29, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Corporate Chiefs Eye Director Issues
In a sign of the recent surge of management sensitivity to corporate-governance issues, Louis Camilleri, chairman of Kraft Foods, told attendees of the company’s annual meeting that Kraft is seriously thinking about boosting the size and independence of its board, according to Reuters.During a qu...
By Stephen Taub • April 28, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Mixed-Gender Mandate for Norway’s Boards
The glass ceiling for women in Scandinavia has turned into a major corporate-governance issue.Norway recently mandated that boards of directors must comprise at least 40 percent of each sex or face legal action, according to Reuters. “There is no slack,” Ansgar Gabrielsen, the country’s industry ...
By Stephen Taub • April 28, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Chairman/CEO Out at Computer Associates
Sanjay Kumar has resigned as chairman and chief executive officer of embattled software giant Computer Associates International Inc. He also resigned from the board of directors.Kumar has, however, been named to the new position of chief software architect.Lewis Ranieri, who has served as the boa...
By Stephen Taub • April 22, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
More Dissenters Oppose Citi Directors
On Tuesday the New York State Common Retirement Fund — which has $118 billion of assets and 22.4 million Citigroup shares — announced plans to withhold votes for two Citi director’s at the company’s annual meeting April 20, reported The New York Times.A day earlier, the California Public Employee...
By Dave Cook • April 15, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
A New Era in Corporate Governance
More progress has been made improving the governance of US corporations during the past couple of years than in the several decades preceding them. New reporting requirements that stock exchanges have ordered in response to high-profile scandals, together with tougher auditing standards under the...
By The McKinsey Quarterly • April 15, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Splitting Top Jobs and the Bottom Line
On the evening following last month’s tumultuous annual meeting of Walt Disney Co., the board of directors removed chief executive officer Michael Eisner from his role as chairman of the board. That initiative, and many similar proposals, have been driven by shareholders who worry that too great ...
By Dave Cook • April 13, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Fannie, Freddie Urged to Split Top Jobs
The federal agency that oversees mortgage finance companies Fannie Mae and Freddie Mac has recommended a number of corporate governance changes to “address current weaknesses and help reduce the potential for future corporate misconduct.”“As government-sponsored enterprises, Fannie Mae and Freddi...
By Stephen Taub • April 9, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Calpers Holds Back More Votes
The California Public Employees’ Retirement System (Calpers), the largest public pension fund, said it will withhold votes from several directors at Genentech Inc., Eli Lilly & Co., and Safeway Inc.At Genentech and Eli Lilly, one reason for the Calpers action is an auditor that was authorized...
By Stephen Taub • April 9, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Against the Tide: Four CEOs Named Chairman
Recently, more and more companies — including Walt Disney and Dell — are splitting the chairman and chief executive jobs. Indeed, in the past year, the percentage of S&P 500 CEOs who also serve as chairman fell to 76 percent from the 80 percent figure reported for the previous year, according...
By Stephen Taub • March 31, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Proxy Season: PeopleSoft, Tyco, Safeway
Voters in the United States will have to endure nearly eight more months of attacks, half-truths, and scare tactics before they go to the polls to select the next president and many other government officials.It’s voting time already for most shareholders, however; spring is the height of the ann...
By Stephen Taub • March 29, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Fidelity Chief: Don’t Split Top Jobs
Edward C. Johnson III, the chief executive of Fidelity Investments and the chairman of its 280 funds, would rather fight than split.In an op-ed piece in The Wall Street Journal, Johnson stated his opposition to a proposal by the Securities and Exchange Commission that the chairman of the fund and...
By Ed Zwirn • Feb. 19, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Judgment Calls
Pity corporate boards. Used to rubber-stamping the wishes of imperial CEOs, they have been ever more rudely assailed by politicians, regulators, and shareholder activists since the fall of Enron. Now, they are being challenged in courtrooms not just over failures to detect accounting shenanigans,...
By Kris Frieswick • Feb. 19, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Shuffleboard Season
As most large companies gear up for an annual rite of spring — shareholder meetings — a number of companies are announcing their board candidates, changing the way they elect their board members, or booting a number of them off the ballot.Just in the past week alone, the activity has been furious...
By Stephen Taub • Feb. 4, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Union Pacific Promotes Two Finance Execs
Union Pacific Corp. announced that Ivor J. Evans has been elected vice chairman and that chief financial officer James R. Young has been elected president of Union Pacific Railroad, succeeding Evans. They will join chairman and chief executive officer Dick Davidson in a newly created Office of th...
By Stephen Taub • Feb. 3, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Oracle’s Ellison, Henley to Sell Shares
Oracle Corp. chief executive officer Larry Ellison and chairman and chief financial officer Jeff Henley each plans to sell large stakes in the software giant over a period of time. The scheduling will allow the two insiders to sell their shares gradually, to reduce market impact and avoid concern...
By Stephen Taub • Feb. 3, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
New Terrain
As former Enron CFO Andrew Fastow negotiated the plea bargain that has landed him a 10-year prison sentence, many finance chiefs were quietly hoping that some stern justice would help restore investor confidence. “Jail time will be an effective way to inhibit fraud,” says Regina Sommer, CFO of Ne...
By Scott Leibs • Feb. 1, 2004 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Revolving Doors
The last thing Boeing Co. needed this winter was another ethics scandal. Not long before, the company had endured one involving improper use of some Raytheon Co. documents. And it was only just in July of this year that Boeing commissioned Warren Rudman, the former senator and ethics expert, to l...
By Roy Harris • Dec. 16, 2003 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Soaring out of a Job
In one of the most profound cases of bad timing in recent memory, publisher John Wiley & Sons sent out advance review copies of Soaring Through Turbulence, Mike Sears’s new book (written with Thomas A. Schweich), days before Sears was canned as CFO of Boeing Co. The book’s publication was “de...
By Kris Frieswick • Dec. 16, 2003 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
How to Run a Company Well
Leading a big public company is one of the world’s most important jobs. It is already fiendishly difficult, and seems to be getting harder all the time. Those who make it to the top frequently fail: they stay for shorter and shorter periods. And there is more competition than there used to be for...
By Frances Cairncross • Oct. 24, 2003 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Facing a Stronger Board: Two Masters?
Walter Schuetze, once the Securities and Exchange Commission’s chief enforcement-division accountant under Arthur Levitt, can hardly contain his exuberance about being audit-committee chair for Computer Associates International Inc. “I like getting into the nitty-gritty of the business,” says the...
By Alix Stuart • May 1, 2003
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