When footage of a CEO yelling at a teenage boy for wearing a dress were posted online, the board of directors acted quickly to fire him and issued an unequivocal statement. After investigating the matter and speaking to individuals involved, the VisuWell BOD has chosen to terminate Mr. Johnson from his position as CEO, effective…
C.E.O. Pay Remains Stratospheric, Even at Companies Battered by Pandemic
From the New York Times: “We’ve created this class of centimillionaires and billionaires who have not been good for this country,” said Nell Minow, vice chair of ValueEdge Advisors, an investment consulting firm. “They may build a wing on a museum. But it’s not infrastructure — it’s not the middle class.” The gap between executive…
VEA Vice Chair on Motley Fool Money: CEOs and Politics, Wall Street Getting Rooked by Archegos
VEA Vice Chair Nell Minow was a guest on the Motley Fool Money podcast this week to discuss Archegos Capital and the failure of due diligence and CEOs and the failure to establish a consistent, brand-supporting message on political issues and campaign contributions.
Investor Advocates Urge Congress to Overturn SEC’s Shareholder Proposal Rule
VEA Vice Chair appeared with a distinguished panel of investor advocates to brief Senate staffers this week on the SEC’s appalling new rule restricting shareholder proposals. The rulemaking process violated the Administrative Procedure Act and cost-benefit guidelines. Other panelists were Josh Zinner of ICCR, Brandon Rees of AFL-CIO, and Kyle Seeley of the New York…
The Corporate/GOP Alliance is Crumbling
From Politico: The recent spat between leading Republicans and major corporations like Delta, Coca-Cola and Major League Baseball criticizing Georgia’s restrictive new voting law isn’t just about voting rights; it’s the sign of a deeper breakup that has been years in the making. For anyone confused about how Senate Republican Leader Mitch McConnell could admonish…
CA Diversity Law Has an Impact
California has made history in the last few years for passing legislation aimed at diversifying corporate boardrooms with more women and people from different ethnic backgrounds. Senate Bill 826, which was passed and signed by former Gov. Jerry Brown in 2018, dictates that all public companies will need to have at least one to three…
Apple Calls for Mandatory Climate Reporting – ESG Today
Tech giant Apple has come out in support of mandatory climate disclosures for companies, issuing a call on the U.S. Securities and Exchange Commission (SEC) to require consistent, audited emissions reporting. Apple Global Head of Environmental and Energy Policy Arvin Ganesan issued a statement today, highlighting the centrality of transparency by companies in the fights…
Jim McRitchie’s Letter to the New SEC Chair, Gary Gensler
Jim McRitchie has written to incoming SEC Chairman Gary Gensler with a list of suggested priorities. An excerpt: With your knowledge of blockchains, you are in a perfect position to reconnect the link between shares, ownership, and responsibilities lost in disintermediation. One study found sixteen intermediaries between a Main Street investor and their investments (What…
CEOs Lead America’s New Great Awakening – ]effrey Sonnenfeld
As they did recently over gun safety, immigration, climate change, social justice and the infamous bathroom bills, major business leaders have protested new voter-restriction efforts in state legislatures. I am proud to have had a role in helping trigger some of this activity. Critics have mocked such civic engagement with headlines like “Woke CEOs’ Foolhardy…
Amazon, Target and Netflix among companies signing letter opposing voting restrictions – The Washington Post
Top Republican officials continue to push back against a surge of major companies and corporate leaders who oppose new voting laws being pursued by Republicans in dozens of states, with fresh signs that some in the GOP are waiting to see how far companies are willing to go on this issue. Even as executives representing…
