Alan Murray writes in Fortune (emphasis added): Davos also forces CEOs to step back and take a broader view of their place in society. That was evident in a dinner Fortune hosted last night, where 60 global CEOs spent two hours sharing thoughts on the top risks and opportunities facing business in the decade ahead. The…
Category: CEO
After Incidents Across Years, a CEO’s Sudden Exit
Agenda reports on the “sudden” departure of Matt Maddox from Wynn Resorts after a now-revealed series of troubling behavior over a longer period. Despite the dismissal for what in any other position would be considered “cause,” the official position is that it was a voluntary departure: “Mr. Maddox’s decision to step down as CEO was…
PWC’s Annual CEO Survey 2022
PWC’s 25th annual CEO survey focused on “the power of trust.” We found that highly trusted companies are more likely to have made net-zero commitments and to have tied their CEO’s compensation to nonfinancial outcomes, such as employee engagement scores and gender diversity in the workforce. Correlation is not causation, and we’ll continue to explore…
Why engine-maker Cummins is lobbying President Biden for new climate legislation | Fortune
From Alan Murray: I spoke yesterday with Cummins CEO Tom Linebarger, one of a growing number of CEOs who have moved to the vanguard of efforts to combat climate change. He went to the White House last month to argue that the portions of President Biden’s Build Back Better Act addressing climate be enacted into…
McDonald’s claws back $105m from disgraced former chief Steve Easterbrook | Financial Times
Steve Easterbrook, the former McDonald’s chief executive who was fired over a relationship with a subordinate, has forfeited more than $105m to settle one of corporate America’s most extraordinary executive pay battles. The burger chain on Thursday revealed Easterbrook’s return of awards, which far exceeded the $40m-plus severance package he was granted on his exit…
Microsoft’s Combination of CEO and Chairman Roles Goes Against Trend – WSJ
VEA Vice Chair Nell Minow is quoted in the WSJ about the Microsoft board’s decision to combine the Chairman and CEO jobs. A change to combine the roles is a source of concern, said Nell Minow, vice chair of ValueEdge Advisors, which advises institutional investors on corporate governance issues. “It’s always a bit of a…
Corporate Bosses Make Well-Timed Stock Sales in SEC ‘Blind Spot’ – Bloomberg
This is why we do not believe insiders should be allowed to transfer or sell any stock until 3-5 years after leaving the company. Even scheduled sales do not solve the problem of insider information because the executives control the timing of key announcements. When Abbott Laboratories chief Miles White cashed out $32 million of…
Why disgraced CEOs rarely fall as far or as fast as everyone else | Financial Times
If business leaders falter, their fall is usually well cushioned, not only by the financial perks of office, but by a safety net of useful contacts — a safety network, if you like. Why disgraced CEOs rarely fall as far or as fast as everyone else | Financial Times
Dimon Shareholder Letter: JP Morgan Chase
From the JP Morgan Chase shareholder letter [emphasis added]: We have consistently described to you, our shareholders, the basic principles and strategies we use to build this company — from maintaining a fortress balance sheet, constantly investing, nurturing talent, fully satisfying regulators, and continually improving risk, governance and controls to serving customers and clients while…
ValueEdge Advisors 