The nation’s largest pension fund is planning to vote for a proposal that would unseat Warren Buffett as chairman of Berkshire Hathaway Inc. The $470 billion California Public Employees’ Retirement System, known as Calpers, said in a regulatory filing that it would support a proposal by the National Legal and Policy Center that Berkshire Hathaway’s board chair…
Tag: chairman/ceo split
Disney appoints woman as chair for first time in 98-year history – BBC News
Walt Disney has elected a woman to chair its board for the first time in the entertainment giant’s 98-year history. Susan Arnold, who has been a Disney board member for 14 years, will succeed Bob Iger at the end of this year….”As I step into this new role as chairman of the board, I look…
Microsoft’s Combination of CEO and Chairman Roles Goes Against Trend – WSJ
VEA Vice Chair Nell Minow is quoted in the WSJ about the Microsoft board’s decision to combine the Chairman and CEO jobs. A change to combine the roles is a source of concern, said Nell Minow, vice chair of ValueEdge Advisors, which advises institutional investors on corporate governance issues. “It’s always a bit of a…
Independent Chair Proposal Gets Majority Support at Boeing
John Chevedden’s shareholder proposal gets majority support: On Monday, [Boeing] shareholders also narrowly approved a measure backing a policy requiring an independent board chairman. Boeing has had a separate chairman and chief executive since October. Boeing said each of the company’s 12 board nominees received a majority of votes from shareholders, though five directors got…
Give up board chairmanship? No thanks, US big pharma CEOs say | BioPharma Dive
VEA Vice Chair Nell Minow is quoted in this article about pharma companies’ reluctance to split the CEO and chair roles. “You don’t get to be a CEO by wanting to report to anybody, which is why it’s important to have somebody overseeing [the CEO],” said Nell Minow, a corporate governance expert who serves as…
Time for GE to Split Up the CEO-Chairman Job? | Directors and Boards
VEA Vice Chair Nell Minow, writing with Allan Grafman in Directors and Boards, says it is time for GE to have an independent board chair. At April’s annual meeting, General Electric’s leadership got an earful from retirees, employees and shareholders about the company’s financial woes, with one investor calling the once preeminent Blue Chip company…
CEO-Chairmen now in the Minority as Split Role Model Gains Ascendancy ChiefExecutive.net | Chief Executive magazine
Large companies that combine the CEO and chairman roles now count in the minority, marking a new milestone in American corporate governance history that’s been more than a decade in the making.The potential tipping point comes as companies face increasing investor scrutiny about the independence of boards and executives, possibly fanned by the recent bogus-accounts…
CalSTRS Letter to Bank of America on Chairman/CEO Split
September 1, 2015 Mr. Jack O. Bovender, Jr. Lead Director Bank of America Corporation Hearst Tower 214 North Tryon Street, NC-027-18-05 Charlotte, NC 28255 Dear Mr. Bovender, We are writing to you on behalf of the members of the California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirements System (CalPERS). Together, CalSTRS…
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