The boardroom Archive

Sep 13, 2019
SSGA finds resistance amid progress on board diversity
State Street Global Advisors (SSGA) is seeing progress in its multi-year campaign to boost female representation in the boardroom – but is still finding that many companies are not taking action, according to a new report.  The firm states in its latest stewardship report that as of June 30, 2019, 43 percent of companies – repres...
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Sep 13, 2019
The week in GRC: CEOs demand action on gun violence, and WeWork reveals governance changes
– Nissan’s board of directors announced that CEO Hiroto Saikawa had resigned, effective September 16, CNN reported. The board named COO Yasuhiro Yamauchi as acting CEO while Nissan searches for a successor. Saikawa’s resignation came days after he admitted to reporters in Japan that he and other top Nissan executives were overpaid as part of a stock-related payment plan...
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Sep 06, 2019
The week in GRC: We Company to add woman to board, and state attorneys general to launch big tech antitrust probes
– CNN said Saudi Arabia took an important step toward listing Aramco by replacing the company’s chair with someone seen as more sympathetic to Crown Prince Mohammed bin Salman’s IPO plans. Energy minister Khalid-Al Falih was succeeded as chair of the state-owned oil company by Yasir Al Rumayyan, head of Saudi Arabia’s Public Investment Fund, Aramco said in a statement. The l...
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Aug 29, 2019
Attorney says ‘unusual’ WeWork CEO succession plan illustrates trend
WeWork has raised at least one set of seasoned corporate governance eyebrows with its CEO succession plans. The arrangement – featuring as it does a ‘pre-delegation’ of the process and the inclusion of the current CEO’s wife – is ‘quite unusual,’ a highly experienced corporate governance attorney tells Corporate Secretary. The lawyer describes the plan as illustrative of a trend among companies going public with individuals closely entwined in their ow...
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Aug 16, 2019
The week in GRC: IPO boards said to undermine diversity push, and in-house lawyers expect climate-related legal risks
– The Wall Street Journal reported that Rite Aid appointed Heyward Donigan as CEO, saying her experience leading healthcare companies would help the pharmacy company. Donigan was previously CEO of Sapphire Digital, a website for analyzing healthcare plans previously known as Vitals. At Rite Aid, she is one of roughly 34 women leadin...
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Jul 11, 2019
SEC’s Peirce raises concerns over board diversity push
Amid growing investor and government pressure for boards to increase levels of female participation, SEC commissioner Hester Peirce has raised concerns that the movement may have downsides due to effects such as cost and signaling. In a speech to the Society for Corporate Governance’s recent national conference, Peirce acknowledged that boards taking a creative approach to filling holes are likely to look in new areas, and as a result are likely to increasingly re...
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Jul 09, 2019
Active managers ‘overwhelmingly’ back shareholder activism, study finds
Almost nine in 10 active managers (87 percent) say shareholder activism is a useful force in the market, according to a new study from SquareWell Partners. The survey takes in the views of active asset managers with roughly $10.4 trillion in assets under management. Of the many goals set out by shareholder activists, board-related, governance-focused activism is most likely to garner support from active asset managers, at 79 percent. This drops down to just 5...
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