Category: Corporate Governance
A city takes on CEO pay it considers “disproportionate” — will others follow suit?
by Cydney Posner The NYT reports on an effort by one city to address income inequality by imposing a surtax on companies that pay their CEOs more than 100 times the median pay of their rank-and-file workers. According to the article, on December 7, the City Council of Portland, Oregon […]
Hitting populist note, U.K. proposes enhancements to corporate governance — will the new U.S. administration follow the populist playbook?
by Cydney Posner One of the prevailing narratives of the recent Presidential election was that the same gestalt that drove the Brits to vote for Brexit also animated the pro-Trump forces and led to his presidential victory. Why then, when it comes to regulation of corporate conduct, do the two […]
Environmental shareholder proposals increase in frequency and sophistication, but will they continue to be viable?
by Cydney Posner In this article, the WSJ discusses the increased frequency and sophistication of shareholder proposals regarding the environment. In particular, the piece observes that shareholder proposals focusing on environmental issues have evolved “from requests for greenhouse gas emissions cuts to demands for disclosure of strategies to manage climate […]
That was quick — proxy access test drive hits a wall
by Cydney Posner You probably recall that, on November 9, 2016, GAMCO Asset Management Inc. (entity affiliated with activist investor Mario Gabelli) and certain affiliates used the proxy access bylaws recently adopted at National Fuel Gas Company, an NYSE-listed diversified natural gas company, to nominate a candidate for election to the […]
So what should we do about conflict minerals compliance for next year?
by Cydney Posner As of now, Forms SD and conflict minerals reports are still due on May 31, 2017. With all the discussion, in light of the election results, of rolling back legislation and regulations, through the Financial CHOICE Act and otherwise (see this PubCo post), many are wondering whether […]
House cautions SEC and other agencies: no midnight rulemaking
by Cydney Posner As reported in the WSJ , Roll Call and Forbes, on Tuesday, House Republicans sent a letter to federal agencies requesting that they not engage in any “midnight” rulemaking — adoption of new rules before the new administration is sworn in. The letter, signed by the House […]
Will we see more activists using proxy access?
by Cydney Posner You might recall that, on November 9, 2016, GAMCO Asset Management Inc. (an entity affiliated with activist investor Mario Gabelli) and certain affiliates used the proxy access bylaws recently adopted at National Fuel Gas Company, an NYSE-listed diversified natural gas company, to nominate a candidate for election to […]
SEC Chair White announces plan to resign
by Cydney Posner The SEC has announced that Chair Mary Jo White intends to resign at the end of President Obama’s term. One of the longest serving chairs, she has served for almost four years. In addition to a long list of accomplishments, including over 50 significant rulemaking initiatives while acting […]
CII hunts zombie directors
by Cydney Posner A new analysis from the Council of Institutional Investors, announced on October 31, reports a relatively high proportion of “zombie directors” remaining on corporate boards. (The date was not lost on CII: the press release was called a Halloween media advisory.) As you probably know, a “zombie […]
Proxy access gets a test drive
by Cydney Posner There’s been a lot of sturm und drang about proxy access, but no one has ever used it to nominate a board candidate…. that is, until now. CorpGov.net reports that, on November 9, 2016, GAMCO Asset Management Inc. (entity affiliated with activist investor Mario Gabelli) and certain affiliates […]
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