The names of some banks and investment funds have been included in an internationally recognised document compiled to help clamp down on private-sector human rights abuses. A just-released third draft of the United Nations (UN) Binding Treaty on Business and Human Rights is being negotiated by the open-ended intergovernmental working group (OEIGWG) under the…
Corporate Directors Say It’s Not Their Job to Monitor CEO: Study – Bloomberg
VEA Vice Chair Nell Minow comments on the study showing directors do not think they are obligated to oversee management. “Usually directors at least pretend to acknowledge their legal obligation to provide oversight of CEOs on behalf of shareholders,” said Nell Minow, who advises institutional investors on corporate governance issues at ValueEdge Advisors. “This acknowledgment…
Making A Difference
Jeff Sonnenfeld says that CEOs play an essential role in speaking out on political issues. Last year, CEOs took on major issues regarding immigration, racial justice, election security and voting access. As Michael Dell commented, “If CEOs can’t speak out on voting access, what can they address?” The collective voice of CEOs provides them protection…
Corporate America launches massive lobbying blitz to kill key parts of Democrats’ $3.5 trillion economic plan – The Washington Post
A torrent of political groups representing some of the country’s most influential corporations — including ExxonMobil, Pfizer and the Walt Disney Company — are laying the groundwork for a lobbying blitz to stop Congress from enacting significant swaths of President Biden’s $3.5 trillion economic agenda. The emerging opposition appears to be vast, spanning drug manufacturers,…
Board Diversity Suit Dismissed
A California federal judge has dismissed shareholder derivative claims against NortonLifeLock Inc. that accused the cybersecurity giant’s board of failing to uphold its stated commitment to diversity and inclusion. U.S. District Judge Richard Seeborg acknowledged Monday that his ruling comes after the dismissals of several similar derivative actions filed by the same law firm that accuse a range of name-brand…
The US gets up to speed with ESG
It has taken a long time – too long perhaps for some – but the US is finally getting up to speed with all things environmental, social and governance (ESG). In fact it could be argued that developments in play at the moment could put the country at the forefront of ESG globally. All of…
Lying, Not Changing: The Fossil Fuel Industry Pretends to Care
Chris Walker of The Daily Poster attended a fossil fuel industry conference. He noted that while a keynote panel was titled “Combating Climate Change Together,” the combat was directed more at science and real-life efforts to address the climate crisis. A major rebranding effort is currently under way as fossil fuel interests like the Colorado…
Activision Blizzard, sued for its workplace culture, is facing investor pressure from the Strategic Organizing Center.
The Strategic Organizing Center (formerly Change to Win) is a democratic coalition of four labor unions: Service Employees International Union (SEIU), International Brotherhood of Teamsters (IBT), Communications Workers of America (CWA) and United Farmworkers of America (UFW). Together, SOC-affiliated unions represent more than 4 million workers. In an interview with Slate, SOC’s research director, Richard Clayton,…
Corporate Directors Don’t See Stopping Wayward CEOs As Their Job – Texas A&M Today
A new study based on interviews with corporate directors from Steven Boivie, Michael C. Withers, Scott D. Graffin, Kevin G. Corley shows that they do not think their job is not oversight of management but support. In our view, the only way to fix this is to implement proxy access and majority vote requirements so directors have a…
Fox faces vote on lobbying proposal | Corporate Secretary
The SEC has given the green light for shareholders in Fox Corporation to vote this fall on a proposal regarding the company’s lobbying activities. The proposal, filed by Kenneth Steiner on behalf of John Chevedden, requests that Fox prepare an annual report disclosing: Company policy and procedures governing direct and indirect lobbying and ‘grassroots lobbying…
