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JPMorgan’s asset management arm to end use of proxy advisers in US, memo shows
Jan 7 (Reuters) – JPMorgan Chase‘s asset management division no longer plans to use proxy advisers in the U.S., according to an internal memo seen by Reuters on Wednesday, a move the bank described as an industry first. Conservatives and some business leaders have for years leveled complaints about proxy advisers and large fund managers, […]
Lululemon founder Chip Wilson launches proxy fight for board shakeup
Dec 29 (Reuters) – Lululemon Athletica’s founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company’s board, days after the apparel maker announced the exit of CEO Calvin McDonald. Lululemon shares have shed nearly half their value this year as the company struggles to find […]
Kohl’s promotes interim CEO and 30-year retail veteran Michael J. Bender to be its permanent chief
Kohl’s appoints Michael Bender as permanent CEO as the retailer battles years of falling sales and prepares to report third-quarter earnings.
Novo Nordisk chair touts OTC future for Wegovy as top investor tightens grip
New Novo Nordisk chair Lars Rebien Sorensen plans to add pharma and OTC expertise after a board shake-up that sparked governance concerns.
Musk the trillionaire? Debate over his Tesla pay package rages
Tesla shareholders will vote on Elon Musk’s record $1 trillion pay package as critics cite excess and supporters call him indispensable to Tesla’s future.
Tesla grants Musk $29B in stock after court setback
Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package. The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted […]
Kohl’s ousts CEO Buchanan after investigation into some vendor transactions
Kohl’s has fired CEO Ashley Buchanan over undisclosed vendor conflicts. Chairman Michael Bender takes over as interim CEO during ongoing leadership search.
Is ESG another CRT?
In January, Virginia Attorney General Jason Miyares joined a group of 24 other state attorneys general in challenging a U.S. Department of Labor rule allowing fiduciaries to consider environmental, social and corporate governance (ESG) criteria such as climate change in making investment decisions for retirement funds. The AGs argued that ESG practices work against investment […]
