The number of physicians on boards shot up in 2020. Some recruiters say this is part of a trend that has been on the rise for the past decade or longer, while others link the jump to the pandemic. In 2020, there were 578 medical doctors on Russell 3000 boards, up from 484 in 2019…
A well-known SoulCycle instructor was met with backlash after getting the Covid-19 vaccine under the guise of an “educator.” MTA board member David Mack is reported to have used his influence to help friends get the vaccine at a retirement home in Palm Beach. The unexpected arrival of 200 vaccines reportedly resulted in vaccinations for western Tennessee politicians, hospital executives’ family members and a florist,…
…Who gets to use the jet in a fractional arrangement varies by company, according to filings gathered by public company intelligence provider MyLogIQ. For example, at Sysco, jet use is made available to directors, named executive officers “and other members of management” for business purposes. At DTE Energy, executives and “other employees” are permitted to use the…
The pandemic has altered how corporate boards view interim roles, with average tenures stretching much longer for certain roles, new research suggests. Going into 2021 with uncertainty still lingering, boards could continue to allow C-suite roles to remain unfilled for longer periods of time. Tenures among interim execs, such as interim CFOs and other named…
More chief financial officers resigned from large U.S. companies in 2020 than in previous years, as the pandemic put pressure on corporate balance sheets and the executives who manage them. Thirty-seven companies in the S&P 500, including General Motors Co. and HP Inc., last year said that their CFOs would quit, up 27.6% from 2019. The figure for 2020 is higher…
Companies are revising their plans for bonuses and other incentive compensation as the coronavirus pandemic upended financial forecasts and executives managed through a once-in-a-lifetime economic downturn. The pandemic has had a disparate effect on companies’ balance sheets, leading to soaring profits in some industries, such as online retail and groceries, and steep losses in others, for example hospitality and travel….
As companies seek to gird their reputations, boards are looking for new directors with deep corporate affairs backgrounds to help them oversee and safeguard an intangible asset that can swiftly erode. A short list of corporate affairs experts who have ascended to boardrooms in recent years includes Dee Dee Myers, the former Clinton administration White House…
For the first time in 30 years, the SEC has updated its risk factor disclosure guidance under Regulation S-K (Reg S-K). One of the foundational updates replaces the requirement for issuers to disclose the “most significant” risk factors with “material” risk factors. That’s a significant shift in the SEC’s principles-based approach to risk factor disclosure that has…
This week the SEC announced charges against Hilton Worldwide Holdings for failing to disclose approximately $1.7 million worth of perquisites related to personal use of the company’s corporate jet and executive hotel stays. The commission says the hotelier “failed to appropriately apply the SEC’s compensation disclosure rules to its system for identifying, tracking and calculating perquisites.” This enforcement action…
If corporate life is a pyramid, for Black Americans, it is one with the steepest of peaks. Out of the chief executives running America’s top 500 companies, just 1%, or four, are Black. The numbers aren’t much better on the rungs of the ladder leading to that role. Among all U.S. companies with 100 or…
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