Oil majors received stunning climate mandates from their shareholders during the 2021 proxy season, including a historic vote to replace three ExxonMobil board members with individuals from an alternative slate nominated by activist investor Engine No 1. But such shake-ups should not come as a surprise: the real surprise is how long it took for them to happen....
Boardroom Archive
– The Wall Street Journal reported that AT&T and Discovery reached a deal to combine their media assets into a new, publicly traded company. The new business will be led by Discovery CEO David Zaslav. The companies said Jason Kilar will retain his title as CEO of AT&T’s WarnerMedia division but declined to...
Corporate Secretary has opened the submissions process for this year’s Corporate Governance Awards.
The awards recognize companies’ and individuals’ outstanding achievements in governance, risk and compliance.
Entries can be submitted – free of charge – by corporate secretaries, general counsel, compliance officers and other governance officials at companies listed/domiciled in the US, or by vendors or service providers on behalf of their clients....
– According to The Wall Street Journal, Warren Buffett said Greg Abel will succeed him as Berkshire Hathaway CEO if he leaves the role in the short term. ‘The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning,’ Buffett said....
Industry experts on Tuesday shared insights into how boards can focus their efforts toward promoting sustainability amid rising investor and regulatory pressures – and a growing sense of urgency.
Peter Gleason, CEO of the National Association of Corporate Directors (NACD), told professionals that his organization views tackling climate change as a ‘full board sport,’ wherein the climate crisis is a risk multiplier across the organization, from regulatory and c...
The largest companies in the US are failing to align their executive compensation with company performance, according to new research from CGLytics, which finds an ‘arbitrary’ approach being taken to executive pay among S&P 500 companies.
CGLytics’ second annual S&P 500 report also questions whether the pay cuts announced by companies in the grip of the Covid-19 pandemic were a ‘façade,’ with an average cut of just 6 percent on CEO pay for the fin...
Despite the growing pressure for companies to address material risks arising from ESG-related issues, there is a severe lack of relevant expertise on such topics among board members of large US companies, according to a new study.
The research finds that 29 percent of the 1,188 Fortune 100 board directors examined have relevant ESG credentials, but that this total is largely concentrated on th...
Nasdaq’s efforts to promote diversity on boards has received support from a variety of constituencies, with a number of commenters approving of its ‘comply-or-explain’ approach.
The exchange operator last month filed a proposal with the SEC to adopt new listing rules that would require companies to have – or explain why they do not have – at least two diverse directors, including one who ...
Joan Conley is this year’s recipient of the lifetime achievement award in recognition of her career as Nasdaq’s only corporate secretary since its founding, during which time she has developed its corporate governance and maintained a passionate focus on ethics, compliance and integrity.
Conley’s retirement from Nasdaq at the end of 2020 follows almost 40 years with the exchange operator and its predecessor organization. She started with the NASD – now the F...
What have been some of the key questions and challenges you have discussed with boards and governance professionals in light of the pandemic?
My view and the view of colleagues, not only internally at Nasdaq but also [externally], is that Covid-19 has rewritten the rules of corporate governance in many ways. I categorize it in four areas.
First, there is much more focus on the intersection of business and society, which of course is a very br...