Tag

Corporate Governance

All articles tagged with #corporate governance

business1 month ago•6 min saved

BP taps Amanda Blanc to steer next chair search amid investor caution

BP has again named Dame Amanda Blanc to lead the process for selecting its next chair, despite investor unease over her ability to steer the search in the wake of Albert Manifold’s abrupt exit as chair. Interim chair Ian Tyler said Blanc will oversee a rigorous, board-led search reflecting the collective view, even as some City figures urge her to recuse herself. Blanc previously chaired BP’s search that installed Manifold, who was removed after eight months amid concerns about his conduct; BP says the new process will be thorough and careful to win shareholder support. The row highlights ongoing governance tensions at the oil major.

via Financial Times|

#amanda-blanc #board-changes #bp-plc

business1 month ago•8 min saved

NYT investor pushes for board-records review after Kristof column

A beneficial NYT shareholder, the National Center for Public Policy Research (NCPPR), has demanded a five‑day inspection of The New York Times’ board and audit committee records to determine whether fiduciary duties were upheld in relation to Nicholas Kristof’s May 11, 2026 column. The request seeks assessment of legal review, source verification, and corrections programs, and could lead to court action if NYT does not respond. NJAC represents the requester and emphasizes that the probe targets corporate oversight, not reporter notes or free‑speech protections.

via The Jerusalem Post|

#board-records #business #corporate-governance

business1 month ago•5 min saved

BP chair ousted after governance concerns and alleged bullying

BP has removed its former chair Albert Manifold amid governance concerns and allegations of bullying; the board cited unacceptable conduct, while Manifold denied wrongdoing and said leadership lacked strategic cohesion and urgency. He reportedly clashed with company secretary Ben Mathews over costs, and Mathews has taken time off as BP undergoes leadership upheaval following Helge Lund’s departure and other top‑level changes. Interim chair Ian Tyler defended the decision, Manifold had helped appoint Meg O’Neill, and BP has since refocused on oil and gas after an energy-transition pivot. More than 18% of investors voted against his election at the AGM.

via Financial Times|

#board-changes #bp-plc #business

business1 month ago•3 min saved

Ousted BP Chair Refutes Bullying Claims After Sudden Dismissal

Albert Manifold, removed as BP chairman over alleged bullying and overbearing conduct, denies the charges and says no such issues were raised in his 40-year career; BP says the board acted with a duty of care and stands by its decision, while governance concerns had already weighed on shareholder sentiment at the AGM.

via BBC|

#albert-manifold #board-removal #bp

business1 month ago•3 min saved

Lululemon Settles Proxy Fight, Adds Founder-Backed Directors to Board

Lululemon and founder Chip Wilson have settled the December proxy contest, with the company agreeing to add two of Wilson’s nominees—Marc Maurer and Laura Gentile—and another director with apparel product/brand expertise by October. In return, Wilson will refrain from criticizing the company for about 18 months. The deal includes a donation to Kitsilano Beach in Vancouver instead of reimbursing proxy expenses, and comes as shares rose around 4% in premarket trading amid leadership transitions and ongoing strategic efforts to restore growth and brand health.

via CNBC|

#board-nominees #business #chip-wilson

business1 month ago•3 min saved

BP chair ouster sparks clash over governance accusations

Former BP chairman Albert Manifold says he was removed without warning and disputes the board’s characterization of his conduct, after BP cited serious concerns about governance, oversight and conduct. Manifold, in office for about seven months, faced a recent shareholder revolt at BP’s AGM amid the company’s pivot back to oil and gas under Meg O’Neill. Activist groups are calling for a full, transparent account of the governance issues as BP shares traded lower on the news.

via CNBC|

#activist-investors #albert-manifold #board-leadership

business1 month ago•14 min saved

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.

via AP News|

#bp #business #business-news

business1 month ago•311 min saved

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.

via CNN|

#board-nominations #business #chip-wilson

business2 months ago•3 min saved

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.

via Business Insider|

#business #corporate-governance #ebay

business2 months ago•4 min saved

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.

via PR Newswire|

#acquisition #business #corporate-governance

business3 months ago•80 min saved

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.

via Yahoo Finance|

#business #china #cofounder

business3 months ago•4 min saved

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.

via Financial Times|

#beretta-holding #business #corporate-governance

business3 months ago•6 min saved

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.

via Lululemon|

#board-of-directors #business #chip-bergh

business4 months ago•458 min saved

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.

via CNN|

#business #corporate-governance #epstein

business4 months ago•2 min saved

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.

via The Guardian|

#business #corporate-governance #dp-world