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…
Tag: activism
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…
Report: Shareholder Activism Jan-June 2019
Activist Insight on Shareholder Activism and Engagement in the first half of 2019: The first six months of 2019 have provided plenty of interesting activist activity in what seems like a longer proxy season than last year’s. Late-season fights at HomeStreet and EQT (this month’s campaign in focus) have kept us on our toes, as…
Activision Blizzard CEO’s $30M Pay Under Fire From Labor Union | Hollywood Reporter
The AFL-CIO’s secretary-treasurer, Liz Shuler, is calling on the SEC to “take action on corporate executives who abuse stock buybacks for their own personal gain.”The AFL-CIO, the nation’s largest federation of unions, has taken aim at Activision Blizzard CEO Bobby Kotick and his annual compensation in 2018 following a massive round of layoffs earlier this…
Investors with $34 trillion demand urgent climate change action – Reuters
Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 biggest economies meeting this week.In an open letter to the “governments of the world” seen by Reuters, groups representing 477 investors stressed “the urgency…
Abortion Likely to Spark Shareholder Activism
The recent adoption of unprecedented restrictions on abortions in states including Georgia, Louisiana, Missouri, and Alabama is a legal and political controversy that is likely to become a corporate governance controversy as well. Judd Legum at Popular Information dug through the disclosure of corporate political contributions and revealed that these corporations supported politicians who sponsored…
Jesuits Get Majority Vote at Private Prison Company
The Jesuits West Province recently helped pass a shareholder resolution to hold GEO Group, one of the largest for-profit prison and detention center operators in the U.S., accountable for human rights and treatment of detainees. Working in partnership with investors and members of the Interfaith Center on Corporate Responsibility (ICCR), the Jesuits requested that GEO…
