Despite strong opposition from many institutional investors, preliminary voting results indicate that Tesla shareholders ratified CEO Elon Musk’s $55.8 billion pay package at the company’s June 13 annual meeting.
by: Rosemary Lally
6/13/2024
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Kyle Seeley, head of stewardship for the New York State Common Retirement Fund, has been elected to the CII board of directors, consistent with the public fund constituency's procedures for filling board vacancies.
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6/13/2024
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As the Delaware State Senate voted June 13 to approve amendments to the Delaware General Corporation Law granting controlling shareholders broad powers over the board, opposition to the amendments continued to mount.
by: Rosemary Lally
6/13/2024
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The House Judiciary Committee issued a report that it says shows collusive conduct by Climate Action 100+, CalPERS, Ceres and Arjuna Capital, and one of the committee’s subcommittees held a hearing to scrutinize the four organization’s motives and actions.
by: Rosemary Lally
6/13/2024
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Thirty eight Democratic Congressional lawmakers sent SEC Chair Gary Gensler a letter June 4 urging him to ensure previous climate-related rules are being thoroughly enforced while the SEC’s comprehensive climate disclosure rule is on hold pending litigation.
by: Rosemary Lally
6/13/2024
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Creditors that are trying to help Rite Aid exit out of bankruptcy have put the brakes on their efforts and are objecting in court to a pay package that Jeff Stein negotiated when he was hired by the company’s board to serve as CEO, chief restructuring officer and a director.
by: Rosemary Lally
6/13/2024
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Japan’s parliament rolled back the country’s “acting in concert rules” on shareholder engagement so that investors with a stake of 5% or higher in a company will no longer be subject to antitrust scrutiny for thematic-based proxy voting or collaborative engagement with other investors.
by: Rosemary Lally
6/13/2024
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A majority of CFA Institute members responding to a survey support limited new regulations for private funds, showing a preference for required disclosures rather than regulatory prohibitions.
by: Rosemary Lally
6/13/2024
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