Boards of directors should be wary of following Exxon’s lead in suing shareholders they disagree with ExxonMobil‘s lawsuit against two activist investors was recently dismissed, and while the oil and gas giant still came out with a win by compelling the groups to withdraw their shareholder proposals on emissions, the victory could come at a…
Every spring in the beforetimes, fervent Warren Buffett fans converged in Omaha for Berkshire Hathaway’s annual shareholder meeting. Some 40,000 investors would fly in for the carnival known as “Woodstock for capitalists.” But, like so many large gatherings since March 2020, its past two iterations have been deflatingly virtual. The video remove didn’t stop Buffett’s event from making headlines in early…
Last year was a terrible one for travel of any sort. You would not know it from the way some American chief executives trousered pay. Annual filings show that Larry Culp, boss of ge, whose jet-engine business stalled as aviation nosedived, earned $73m, almost triple his total pay in 2019. Christopher Nassetta, ceo of Hilton, a hotel…
Some of the companies that are once again hosting their annual shareholder meetings virtually this year are hoping to improve the experience for investors, many of whom felt muted last year after the sudden shift to remote technology. Warren Buffett’s Berkshire Hathaway Inc., pharmaceutical giant Pfizer Inc. and Dutch software and services company Wolters Kluwer NV are among the companies working to increase…
The Wall Street Journal reported that, according to data provider MyLogIQ, 87 percent of companies in the S&P 500 opted for a virtual AGM this year compared with 23 percent of meetings held remotely in 2019. Companies are finding virtual AGMs to be cheaper and less time-consuming, but some shareholders complain they don’t get as much…
The Wall Street Journal (paywall) reported that, according to data provider MyLogIQ, 87 percent of companies in the S&P 500 opted for a virtual AGM this year compared with 23 percent of meetings held remotely in 2019. Companies are finding virtual AGMs to be cheaper and less time-consuming, but some shareholders complain they don’t get as…
Companies are finding virtual shareholder meetings to be cheaper and less time-consuming, but shareholders complain they don’t get as much time to ask their questions. A majority of the companies in the S&P 500 this year have decided to move their shareholder meeting—usually an in-person event—online due to coronavirus-related restrictions on large gatherings. Faced with…
Corporate boards forced to move meetings online during the coronavirus pandemic are trying to guard against cyberattacks with secure communication platforms and instructions for members on notetaking and eavesdropping. Boards are gravitating to platforms such as Cisco Systems Inc.’s Webex, LogMeIn Inc.’s GoToMeeting, and Microsoft Corp.’s Teams, according to directors and consultants. Nasdaq Inc. has…
Companies including Altria Group, CVS Health and Intel are the latest to have failed say on pay so far this proxy season, as investors zero in on longtime compensation issues that have been magnified by the coronavirus pandemic. Indeed, investors are carefully scrutinizing how pay, strategy and performance will align to weather the storm. Shareholders may react to perceived failings…
Investors are pushing companies to address things like hazard pay and whether temporary policies and practices related to employees need to stay in place as businesses transition out of the depth of the pandemic. Yesterday, New York City comptroller Scott Stringer sent a letter to the Amazon board’s leadership development and compensation committee asking chair Judith McGrath to address at its upcoming annual…