Investors in 2019 have increasingly turned their attention to environmental, social, and governance (ESG) topics, and are demanding more information on how companies are thinking about the potential long-term risk and opportunities related to specific environmental and social factors. As companies prepare for the 2020 proxy season and engage with shareholders, directors should understand the…
Directors with decades of experience as well as those in their 70s are retiring or opting not to stand for reelection. Meanwhile, new board appointments show that searches are prioritizing gender diversity, technology and cyber security. According to public company intelligence provider MyLogIQ, in the past six weeks, the boards of AutoZone, Campbell Soup Company, Cigna Corporation, Microsoft Corporation, NRG Energy and Walgreens Boots…
Boards are continuing to adopt limits on the amount of compensation directors can earn in a year to protect against pay lawsuits alleging breach of fiduciary duty. However, as more suits have progressed, some boards are implementing new limits that appear to be trending lower than those adopted previously, and a few boards have even…
The largest companies are gradually telling investors more about the pains they’re taking to protect their own information as well as customers’ privacy. Yet some industries are reporting those efforts better than others, according to new studies. A growing number of firms have fallen into step with last year’s guidance from the Securities and Exchange Commission to…
In private conversations, many board members confide that they’re frustrated that they often run short of time in board meetings without adequately discussing strategy. They say those conversations get short shrift while they spend time making sure their managers are compliant with regulations and are managing risks. Indeed, three years ago, McKinsey, the management consulting firm,…
Chief executive officer pay levels have become part of a heated debate about how much public company leaders should be paid. Some packages have risen into the tens of millions of dollars each year. Shareholder groups have tried to block these large pay packages, but almost entirely without success. CEOs at big companies do work…
The merger of Viacom Inc. and CBS Corp. will be lucrative for the top executives of both companies. Viacom Chief Executive Bob Bakish, who will become president and CEO of the combined company, ViacomCBS, has signed a new contract ending four years after the deal closes. The contract lists salary, bonuses and other incentives worth about $31 million…
At a number of major American companies, compensation for board of director members has come under fire from shareholders in recent years. While director salaries remain a small fraction of CEO salaries (these are the highest paid CEOs at America’s largest companies), they have steadily risen over the past decade. In several recent instances, shareholders…
At a number of major American companies, compensation for board of director members has come under fire from shareholders in recent years. While director salaries remain a small fraction of CEO salaries (these are the highest paid CEOs at America’s largest companies), they have steadily risen over the past decade. In several recent instances, shareholders…
McDonald’s Corp. has been among the American companies that pay its workers the least. As some evidence of the ongoing pay problem at the fast-food chain, the U.S. Securities and Exchange Commission has released the compensation of McDonald’s CEO Stephen Easterbrook. He was paid $15.9 million in 2018. That is 2,124 times the median employee salary of…
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