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…
Category: CEO
Don’t Buy the Conservative Rebellion Against Corporations – The Atlantic
The latest talking point from those opposing ESG is a derisive term, “woke capital.” But it does not mean anything, and, as we have said repeatedly, no one has yet come up with an example of a decision based on politics or ESG that is not quantifiably financial. Republicans are ready to take on “woke…
More Than 100 CEOs Discuss Opposition to Vote Suppression Laws
More than 100 of the nation’s top corporate leaders met virtually on Saturday to discuss ways for companies to continue responding to the passage of more restrictive voting laws across the country, a signal that the nation’s premier businesses are preparing a far more robust, organized response to the ongoing debate. With some CEOs chiming in from…
Adam Bryant on The CEO Test
Adam Bryant’s Corner Office interviews with CEOs included some of the most innovative, practical, and often surprising insights into the challenges and strategies of leaders I have ever read. So it is not surprising that his latest book, The CEO Test: Master the Challenges That Make or Break All Leaders, co-written with former Amgen CEO…
Goldman Sachs CEO David Solomon’s Flies the Corporate Jet to the Bahamas For Weekend Getaways
Why is it that the people who make the most money do not want to spend it? There’s no reason a CEO should use the corporate jet for island getaways at any time, but during the pandemic it sends an especially poor message. Note the reference to “reimbursement.” We suspect that means he pays the…
Sonic Automotive CEO Smith Charged With Assault, Board Structure Draws Criticism – Bloomberg
VEA Vice Chair Nell Minow is quoted in this story about a CEO charged with criminal assault and his insider-stacked board’s insistence that it doesn’t matter. Barely 24 hours after his release, Sonic’s board — more than a quarter of which is made up of Smith family members, including the CEO’s father and 93-year-old founder O….
While Millions Lost Jobs, Some Executives Made Millions in Company Stock – The New York Times
If we had a dollar for every time we pointed out that stock and option grants to CEOs and other top executives should be indexed to the peer group, then we’d probably have $60 million, too. This is not rocket science. These gains have nothing to do with the individual performance of these companies or…
Want More Diversity? Some Experts Say Reward C.E.O.s for It – The New York Times
harles A. Tribbett III, a consultant who advises large corporations about hiring and compensation, said many executives and board members were discussing whether to link pay to diversity goals, a change he endorsed. “I believe the time is now for that discussion to be turned into action,” said Mr. Tribbett, a managing director at Russell…
Ex-Bumble Bee CEO Gets 3-Year Prison Term, a Rarity in Antitrust – Bloomberg
Former Bumble Bee Foods LLC chief executive officer Chris Lischewski was sentenced to more than three years in prison for his role in a price-fixing racket, a rare outcome in a U.S. antitrust crackdown. In December, Lischewski was found guilty by a San Francisco federal jury of conspiring with colleagues and other industry executives to…
Please Don’t Call CEO Departures for Cause “Push-Outs”
The use of the term “push-out” reveals the bias of this study, from a program largely funded by CEOs. When CEOs are promptly fired for cause, including poor performance, without multi-million-dollar departure packages. we’ll begin to talk about efficient markets. Research using the Push-out Score analysis model shows that at the start of the year,…
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