Boohoo Group PLC (LON:BOO) has vowed to address its corporate governance responsibilities after an independent review confirmed poor working conditions and low rates of pay in its supply chain. The report found that Its senior directors “knew for a fact that there were very serious issues about the treatment of factory workers in Leicester and…
Tag: activism
Activist Trian Fund Management Takes Stake in Comcast – WSJ
Tough when the insiders have controlling shares, but then Trian is pretty savvy. It will be interesting to see where this goes. Trian Fund Management LP, a hedge fund known for pushing big companies to make operational and other changes, has launched an activist campaign against Comcast Corp. in a bet that the cable-TV and…
CERES Ties Governance to Environment
From Ceres, a new report called Blueprint for Responsible Policy Engagement on Climate Change. The full report is below. An excerpt: Companies that establish robust governance systems to address climate change as a systemic risk and align their direct and indirect lobbying efforts to support science-based climate policies will drive the creation of a regulatory…
Climate risk & board conflicts at Standard Bank – Just Share
n 8 June 2020, 14 climate justice NGOs led by Just Share wrote to asset managers with shares in Standard Bank Group Limited (Standard Bank), calling on them to vote against the election of five climate-conflicted directors at the bank’s AGM on 26 June. Seven of Standard Bank’s 18 board members have close ties to…
EA Put On Blast By Investor Group Over Huge Payments To Top Executives – GameSpot
Gaming giant Electronic Arts has been put on blast by one of its investors for the lucrative pay packages that the publisher gives to some of its highest-ranking executives. Dieter Waizenegger, the director of The CtW Investment Group, said in a notice that EA has “gone too far in terms of executive pay,” and is…
Preparing for Post-Pandemic Corporate Activism
Pre-pandemic, activists found new acceptance among institutional investors as they focused on unlocking value, creating efficiencies, and operating in a global environment with a focus on corporate and social responsibility governance issues. In what might be seen as a direct response to this trend, in August 2019, a group of 181 chief executives signed a…
JPMorgan Chase removes Climate Change Denier and Former Oil Company CEO from independent director role | Financial Times
JPMorgan Chase has promised to announce a new lead independent director by the end of September, bringing an end to the 19-year tenure of former ExxonMobil chief Lee Raymond and satisfying demands for change led by New York City’s comptroller and climate groups. America’s biggest bank revealed the timetable for appointing Mr Raymond’s successor in documents filed ahead of its May 19…
Jupiter Backs Barclays Shareholder Resolution on Climate Change – Bloomberg
Jupiter Asset Management has thrown its weight behind a shareholder campaign urging Barclays Plc to set out how it will stop financing energy firms that don’t align with the Paris Agreement climate goals. The London-based fund manager joins around a dozen institutions including Amundi SA to back what supporters say is the first climate change…
Majority Action Wants Former Exxon CEO Off the Board of JPMorgan
Few people are in a position to influence Jamie Dimon, the chief executive who turned JPMorgan Chase & Co. into the biggest U.S. bank. The longtime climate skeptic who turned Exxon Mobil Corp. into the biggest U.S. oil company is one of them. Lee R. Raymond, 81, holds the top position on JPMorgan’s 11-member board…
Trian and P&G highlight activist-corporate collaboration after ‘fog of war’ – Reuters
Eighteen months after officially burying the hatchet in one of America’s most bitter proxy contests, Procter & Gamble Co (PG.N) CEO David Taylor and billionaire investor Nelson Peltz proclaimed their mutual respect on Thursday, underscoring how activists and corporations can end up working collaboratively…After an incredibly close proxy contest, which could have dragged on for…
