Shareholders Archive

– The Wall Street Journal reported that Hubert Joly will step aside as Best Buy’s CEO having led the turnaround of the electronics retailer, which many had thought would suffer the same fate as other big-box chains facing challenges from Amazon. In June, Joly will hand over to CFO Corie Barry, who will be one of the few women and one of the y...

– Bloomberg reported that Hertz Global Holdings is demanding that ex-CEO Mark Frissora and other former senior managers return at least $70 million of incentive compensation for their roles in an accounting scandal five years ago. The company accused the former executives of pressuring employees to use fraudulent accounting techniques to inflate...

Geopolitical tensions, trade issues between the US, China and Europe, and the uncertainty created by Brexit have slowed down IPO activity globally in the first three months of 2019, according to EY. The firm’s quarterly report highlights that the positive performance of main stock indices and a decrease in volatility in many markets did little to halt the slump suffered by IPOs. In fact, the number of IPOs in Q1 2019 fell from last year’s track record to 199 glo...

– The Wall Street Journal reported that activist investor Voce Capital Management thinks Argo Group International Holdings’ board is letting its CEO, Mark Watson, misuse the Bermuda-based insurer’s assets at the expense of shareholders and could nominate four directors to the board, according to a draft of a...