Recent articles

Chevron shareholders to vote on skeptical climate change proposal

May 18, 2023

Chevron Corporation shareholders will vote at the company’s AGM later this month on a climate change-related resolution based on a skeptical view of the issue, in contrast to most proposals in this area. The resolution comes amid an uptick in recent years both of pro and anti-ESG shareholder measures. ...

Appointments

Chewy general counsel to leave company

May 17, 2023

Ben Maiden

Susan Helfrick, general counsel and corporate secretary of Chewy, has notified the company of her decision to retire from her position, effective June 20, 2023, according to a regulatory filing. Helfrick joined the pet products firm in December 2014 as general counsel. According to her LinkedIn profile she previo...

Compliance

ISSB calls for SASB standards to be made globally applicable

May 16, 2023

Noemi Distefano

ISSB calls for SASB standards to be made globally applicable

The International Sustainability Standards Board (ISSB) has opened a three-month consultation asking industry for feedback on its proposed methodology to enhance the global applicability of the SASB Standards. Launched in 2011, the SASB Standards aim to help businesses define ESG materiality on a sector-specific basis. In 2018, SASB ...

ESG

Audit committee should understand trends in ESG governance, report says

May 15, 2023

Sheri Rothman

Audit committee should understand trends in ESG governance, report says

Even though oversight for ESG tends to fall primarily with the nominating and governance committee, or in some cases across multiple committees, the role of the audit committee will continue to grow in importance, especially as formal disclosure requirements increase, according to a new ...

Compliance

The week in GRC: Federal prosecutors target short-sellers, ISS does rare U-turn on JPMorgan pay and Icahn’s stock falls

May 12, 2023

Staff writers

The week in GRC: Federal prosecutors target short-sellers, ISS does rare U-turn on JPMorgan pay and Icahn’s stock falls

– Federal prosecutors in Washington were looking into short-seller activity around the recent volatility in US bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter told CNBC. Short-sellers – traders that profit by...

Shareholders

Shell investors urged to vote against energy resolution at AGM

May 12, 2023

Hemma Visavadia

Shell investors urged to vote against energy resolution at AGM

Shareholders of energy conglomerate Shell should vote against the company’s energy-transition resolution at the upcoming AGM, according to Pensions & Investment Research Consultants (PIRC). PIRC, a corporate governance and shareholder advisory consultancy, recommends investors vote against resolution 25, which asks shareholders to approve Shell’s Energy Transition Progress for the year 2022. The consultants argue that the $213 bn energy giant has failed to a...

Boardroom

African American board representation grew in 2022

May 11, 2023

Sheri Rothman

African American board representation grew in 2022

A little more than three quarters (76 percent) of publicly traded companies in the Fortune 1000 had at least one African American director serving on their board as at September 2022, compared with 61 percent in 2020, according to a new report by the KPMG Board Leadership Center an...

Appointments

PMG hires general counsel and CCO

May 10, 2023

Ben Maiden

Precision Medicine Group (PMG) has hired Stacey Hanna as general counsel and chief compliance officer. She reports to CEO Mark Clein. Hanna was previously vice president and general counsel for global ethics and compliance at Lonza. In that role, she led a global team involved in ethics and compliance, antitrust, diversity and inclusion, cultural change, risk management and strategy and government affairs. She joined Lonza in 2017 when it acquired her former ...

Shareholders

Companies seek to limit officers’ liabilities this proxy season

May 08, 2023

Ben Maiden

Companies seek to limit officers’ liabilities this proxy season

Scores of Delaware-incorporated companies are sending proposals to a vote at their AGM this proxy season in an effort to limit their officers’ liabilities. According to Georgeson, 120 companies had filed such proposals as of mid-April and the consulting firm expects that number to rise as more proxy statements are finalized. By mid-April, 22 of those proposals had been voted on: 18 passed, three failed and one result was not disclosed. The average level of support...

ESG

Investors with $10 tn in assets urge companies to reduce use of plastics

May 05, 2023

Tim Human

Investors with $10 tn in assets urge companies to reduce use of plastics

A coalition of 185 investors has called on companies to take a more ‘radical approach’ to lowering their use of plastics given the growing financial and reputational risks. The investors have written to issuers in the fast-moving consumer goods (FMCG) and grocery retail sectors, such as Britvic, Danone and Target Corp, calling for them to ‘act more swiftly to address the plastics crisis’. ‘Companies must set a clear vision to drastically reduce cons...

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