Caterpillar Inc.’s CAT 0.35% chief executive Jim Umpleby has been named chairman of the machinery giant’s board as well, cementing his leadership nearly two year into his tenure. The move reverses Caterpillar’s decision to split the CEO and chairman positions last year. Corporate governance experts say that having a separate chief executive and board leader can improve oversight and…
Once an unusual occurrence, CEOs’ stepping down to take board or executive chair positions while new, typically first-time CEO replacements get their bearings has become routine in recent years. In an orderly internal transition, the move is thought to signal stability to customers, key clients, employees and investors, and often lasts about one or two…
New interpretive guidance from the Securities and Exchange Commission (SEC) in February 2018 makes it clear that staff there will be paying increased attention to cybersecurity risks and how well publicly traded companies are disclosing them. Concern among investors, customers, and regulators about data protection and infrastructure safety continues to grow. A robust cybersecurity program…
As board evaluation processes mature, directors are becoming more willing to conduct in-depth evaluations of their peers and the full board, including asking members of management to describe their perspective on the board’s overall effectiveness via a third-party consultant. Though management’s input was once thought to be an unnecessary source of information, boards and consultants…
Boards are stuffing audit committees with new directors who have deep financial backgrounds as well as digital and e-commerce experience. Directors appointed to the boards of such companies as Becton Dickinson Co., Chesapeake Energy, GameStop, JetBlue Airways, MGM Resorts International, PulteGroup and United Rentals during the past four weeks have also been assigned to serve on audit committees, according to intelligence from SEC filings…
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