WeWork Employee Options Underwater as Ex-CEO Reaps – WSJ

VEA Vice Chair Nell Minow is quoted in the Wall Street Journal about the mind-boggling $1.7 billion departure package for Adam Neumann at We Work, which includes $187 million in consulting fees and a $500 million line of credit. “There used to be crazy departure packages in the past, and shareholders really objected,” said Nell…

Corporate Leaders Speak Out Against the Muslim Ban

Corporate leaders have spoken out on gun safety and emissions standards, and now call on the government to put an end to the restrictions on Muslim immigration. The most striking sentence in the letter: “Nearly half of the top 100 companies on the Fortune 500 list were started by an immigrant or their children.” Global…

Today in Disgraced CEOs — Overstock and Jimmy Johns

Patrick Byrne abruptly resigned from Overstock.com, the company he founded, with a rambling, incoherent appearance on FOX News where he claimed that he was asked to spy by “some very honorable people,” including having an affair with now-jailed Russian spy Maria Butina. “I took some orders that seemed very fishy…[but]I’m not working with anybody….I want…

CEOs Adopt “Stakeholder” Goals: Business Roundtable

A new statement from the Business Roundtable commits to stakeholder interests instead of making the primary purpose of the company shareholder value. We have some concerns.  And a strong sense of deja vu. The last time the BRT was excited about stakeholders it was during the era of hostile takeovers, and a feint to the…

Up to half of exiting CEOs don’t quit. They get fired – CNN

When companies announce their CEOs are leaving, they may offer any number of vague reasons. But it’s rare that they’d ever say the chief executive was “fired” or explain precisely why.One study suggests that in the past two years, 52% of announced CEO departures from companies on the Russell 3000 Index likely were the result…

Has La Croix Lost Its Fizz?

National Beverage, producer of La Croix flavored fizzy water, has been criticized for the tone and substance of its recent filings. On Forbes, Jim Collins calls CEO Nick Caporella’s statement “bizarre” and points out the contradictions in its explanation for reduced revenues: La Croix sales are falling due to litigation, but that litigation will not…

More U.S. Companies Separating Chief Executive and Chairman Roles – WSJ

A push by corporate governance experts, shareholders and, in some cases, regulators to untangle the chairman and chief executive positions at U.S. public companies is gaining traction.The percentage of S&P 500 companies whose chief executives also serve as chairman reached 45.6% in 2018, compared with 48.7% the year before and the lowest percentage in at…