What do companies really have to reveal when a CEO is ousted? – The Washington Post

Jena McGregor writes in the Washington Post about the delicate obfuscation in CEO departure announcements:<P Barnes & Noble’s announcement on Tuesday that its CEO, Demos Parneros, was being terminated, gave investors some important information: He would not get a severance. His firing was not related to “any potential fraud.” He had violated a company policy and…

Pay for Big-Company Directors Tops $300,000 – WSJ

Compensation for directors of large U.S. companies continues to creep upward, with half paying a typical board member $300,000 or more last year, a new study finds. Median pay for the non-management directors of 100 of the largest U.S. companies rose 3.4% from $290,000 in 2016, according to the study from pay consultancy Compensation Advisory…

Board Members Ditching Annual Meetings

We recommend a no vote for directors who do not show up at annual meetings without a good reason. Some small investors who want to give a piece of their minds to big tech company directors are losing their only chance: many board members are skipping annual shareholder meetings. Companies that hold meetings online have…

How to Be a Good Board Chair

A new study distills the qualities of a good board chair. An effective chair, the people in our study largely concurred, provides leadership not to the company but to the board, enabling it to function as the highest decision-making body in the organization. As one survey respondent put it: “The chair is responsible for and…

Netflix Revolutionizes Board Meetings

Beyond PowerPoint — making meetings meaningful, and integrating the board with the company’s operations and executives at Netflix: At most companies, directors have a less complete understanding of the company than executives because of their limited exposure to day-to-day activities. The format of the information they receive does little to overcome this information deficit. The…

Carillion bosses drove construction firm off a cliff, say MPs – BBC News

The UK firm Carillon has collapsed, declaring bankruptcy as its share price is just above zero. The “integrated support services business” held about 450 governmental contracts, from school meals to maintenance, construction, and traffic control. Last year, it issued three profit warnings in five months and wrote off more than £1 billion. In a damning…

Entire Aviva board faces pay cut over preference share ‘fiasco’ – Citywire

The chair and other non-executives on the Aviva board could lose some of their 2018 fees over its ‘fiasco’ of an attempt to cancel its non-redeemable, high-yielding preference shares, and internal directors are also likely to face a penalty. While executive remuneration is by design variable the decision to slash non-executives fees for external advice…

Time for GE to Split Up the CEO-Chairman Job? | Directors and Boards

VEA Vice Chair Nell Minow, writing with Allan Grafman in Directors and Boards, says it is time for GE to have an independent board chair. At April’s annual meeting, General Electric’s leadership got an earful from retirees, employees and shareholders about the company’s financial woes, with one investor calling the once preeminent Blue Chip company…