On Monday, Howard Schultz, Starbucks’ chairman (and former U.S. presidential candidate), told The Wall Street Journal that the company wasn’t considering any internal candidates for its next CEO appointment. Think about that for a second. Of the many thousands of managers and executives in the company — and the tens of millions of dollars the…
Tag: CEO succession planning
Up to half of exiting CEOs don’t quit. They get fired – CNN
When companies announce their CEOs are leaving, they may offer any number of vague reasons. But it’s rare that they’d ever say the chief executive was “fired” or explain precisely why.One study suggests that in the past two years, 52% of announced CEO departures from companies on the Russell 3000 Index likely were the result…
VEA Vice Chair Nell Minow on the Viacom Mess
ValueEdge Advisors Vice Chair Nell Minow appeared on NPR today to comment on the battle for the control of Viacom. NELL MINOW: The drama is about the single reason that we have corporate governance rules in the first place. FOLKENFLIK: Nell Minow is vice chair of Value Edge Advisers. She counsels large institutional shareholders on…
Loeb Prevails in Corporate Governance Challenge in Japan
The idea of an octogenarian CEO in questionable health ousting a potential successor to make way for his own son would be met by hackles, maybe even outright laughter, by many corporate governance experts and shareholder activists in the U.S. and Europe. Yet that’s what Dan Loeb accused Seven & i Holdings Co. Chief Executive Officer…
Boards Should Do Better in Disclosing and Compensating CEO Succession
VEA Vice-Chair Nell Minow writes in the Huffington Post: It’s been 25 years since Professor Jeffrey Sonnenfeld’s landmark book The Hero’s Farewell vividly documented the challenges and failures of CEO succession planning at large publicly traded companies, and not much has changed beyond the exponential growth in what the top executives get paid. A typical…
New Data Show CEO Succession Planning — And Disclosing It — Matter
Does CEO Succession Planning Matter? In short, yes it does! Research released this week from the IRRC Institute, and conducted by ValueEdge Advisors’ Senior Advisor Annalisa Barrett, finds that companies which provided more information to shareowners about their CEO succession plans subsequently had more successful CEO transitions. The report (which can be found here)…
Viacom CEO Seeks to Block Subpoena in Redstone Health Suit – Bloomberg Business
The New York-based company said last month that Redstone was “mentally capable” in response to calls for more information about his health by Mario Gabelli, the largest outside holder of voting stock in Viacom, the parent of the Nickelodeon and MTV cable networks. On Tuesday, another investor sued Viacom and CBS in Delaware Chancery Court,…
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