BP shakes up leadership after conduct review
BP has ousted its chairman following a conduct review, triggering a leadership transition as the company reconsiders governance and its strategic direction in the energy sector.
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Corporate Governance
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Lululemon rebuffs founder’s bid to overhaul its board
Lululemon publicly rejected founder Chip Wilson’s bid to reshape its board, calling his proposed nominations and approach “misguided” and asserting that voting for them would endorse a past-focused vision. Wilson, the brand’s second-largest shareholder and a vocal critic of current leadership, had pushed for a board overhaul after Wilson’s December campaign. The company’s letter, released ahead of June’s shareholder meeting, argued the picks would remove critical operating skills and would fail to reflect the business today, as CEO Calvin McDonald departs and Heidi O’Neill steps in. The clash comes amid a roughly 40% drop in Lululemon’s stock this year due to tariffs, softer discretionary spending, and rising competition from brands like Vuori and Alo.
eBay Rejects Ryan Cohen's $55.5B Takeover Bid, Citing Six Strategic Concerns
eBay has rejected Ryan Cohen's unsolicited $55.5 billion bid for the company, saying the proposal is neither credible nor attractive and outlining six factors that informed the decision: standalone prospects, financing uncertainty, impact on long-term growth and profitability, leverage and governance risks of a combined entity, valuation implications, and GameStop’s governance and executive incentives. Cohen has indicated he will continue pursuing the deal. GameStop had proposed a cash-and-stock offer at $125 per share; market moves followed, and there was no immediate comment from GameStop.
eBay rebuffs GameStop's unsolicited takeover bid
eBay’s board rejected GameStop’s unsolicited, non-binding acquisition proposal after a thorough review, deeming it neither credible nor attractive. The decision weighed eBay’s standalone prospects, financing uncertainty, potential impact on long-term growth and profitability, risks and governance concerns of a combined entity, and GameStop’s incentives. The board emphasized its strong standalone performance, ongoing strategic focus, and commitment to delivering long-term shareholder value under its current leadership.
Shareholders sue Super Micro over China-linked case involving co-founder
Shareholders have filed a lawsuit against Super Micro Computer, alleging that company executives misrepresented or failed to disclose material risks related to a China‑related criminal case involving the co‑founder and others, and are seeking damages and governance reforms.
Beretta escalates bid to raise Ruger stake to 30%
Beretta Holding is pressing to lift its stake in Sturm Ruger from under 10% to 30% and has proposed an all-cash tender at $44.80 a share after launching a proxy fight to install four new Ruger directors, while Ruger calls the campaign a creeping takeover and vows to defend shareholders’ interests; Beretta says it is not seeking control and remains open to negotiations.
Chip Bergh Joins lululemon Board, Signals Strategic Refresh
Lululemon announced the appointment of Chip Bergh, former Levi Strauss & Co. CEO, to its Board of Directors as part of ongoing board refreshment. Bergh will stand for election at the 2026 annual meeting, replacing David Mussafer who will not seek re‑election. The company touts Bergh’s brand and retail leadership, notes that five independent directors have joined the board in the last five years, and emphasizes continued CEO succession planning and long‑term growth strategy. Bergh’s background includes 28 years at Procter & Gamble and board roles at HP Inc., e.l.f. Beauty, and Pinterest.
Epstein Files Spark a New Wave of Corporate Departures
A fresh wave of executives is resigning as millions of Epstein files illuminate closer ties between Epstein and prominent business leaders, prompting questions about judgment and ethics. Hyatt's Tom Pritzker and Goldman Sachs’ Kathy Ruemmler are among the latest to step down, with other high-profile figures like Casey Wasserman and Peter Mandelson under scrutiny. Analysts say markets react faster than political arenas, boards are tightening governance, and more fallout is expected as the Epstein documents continue to surface.
DP World chief resigns over Epstein ties scandal
Dubai-based DP World announced the immediate resignation of chair and CEO Sultan Ahmed bin Sulayem after revelations of his emails with Jeffrey Epstein, with Essa Kazim named chair and Yuvraj Narayan appointed chief executive; the disclosures prompted partner pauses on deals—with major investors like La Caisse and British International Investment delaying engagements, though BII later said it would resume investments—while the article also references DP World’s P&O Ferries history and broader governance controversies.
Fortune 500 DEI disclosures collapse in 2026 Corporate Equality Index
The Human Rights Campaign’s Corporate Equality Index shows a 65% drop in Fortune 500 participation, from 377 companies in 2025 to 131 in 2026. Of 1,450 participating firms, 534 earned a top score of 100, representing nearly 6 million U.S. employees. The decline mirrors a broader anti-DEI movement, with major names like Walmart, Ford, and Lowe’s exiting, citing political climate and contracting considerations.
Disney Names Josh D’Amaro Incoming CEO as Walden Takes Creative Lead
Disney’s board elected Josh D’Amaro to become Chief Executive Officer, effective March 18, 2026, succeeding Bob Iger; Dana Walden will be President and Chief Creative Officer reporting to him, with Iger as Senior Advisor through 2026. D’Amaro, a 28-year Disney veteran, chairs Disney Experiences and will oversee major expansions and strategic initiatives as part of a formal succession process overseen by the board.
Nintendo Veteran Doug Bowser Joins Hasbro Board
Doug Bowser, former Nintendo of America president, has joined Hasbro's board of directors alongside Carla Vernón of The Honest Company; Hasbro says his leadership in consumer brands and franchises will support long-term growth as Nintendo appoints Devon Pritchard as its new NoA president and COO.
David Webb, Hong Kong’s fearless governance advocate, dies at 60
David Webb, Hong Kong’s most vocal activist investor who unearthed corporate malfeasance and spurred governance reforms, died in Hong Kong on Jan. 13 at age 60 from metastatic prostate cancer. A former Barclays executive turned independent investor, Webb built the webb-site.com platform, led investigations (notably the Enigma Network) that triggered regulatory probes, and earned a board seat at HKEX; he was also honored as a Member of the Order of the British Empire for anti-corruption work.
Berkshire Hathaway's new CEO Greg Abel to earn $25 million in first year
Greg Abel, the new CEO of Berkshire Hathaway, has received a salary increase to $25 million, reflecting his new leadership role and Warren Buffett's strong endorsement, with Abel previously serving as vice chairman of the company's non-insurance operations.
AIG appoints Eric Andersen as new CEO amid leadership transition
AIG has appointed veteran executive Eric Andersen as its new CEO following a challenging succession process, signaling a strategic move to stabilize and lead the company forward.