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SEC’s climate rule leaves questions over future
Revised version does not appease some on either side of debate over reforms The reaction to the SEC’s 3-2 decision to approve climate-disclosure rule changes suggests the vote may not be the end of the story in terms of either pressure for further regulation or potential efforts to overturn the agency’s actions. In the meantime, governance professionals will be looking at their next steps in terms of compliance. The SEC’s rulemaking has been the subject of a wide array of often strong opinions, including around 24,000 comment letters and threats of litigation to overturn the rule changes. The decision to…
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Pfizer faces vote on human rights proposal
Resolution includes call for board oversight of human rights due diligence Pfizer is set to face a shareholder vote this proxy season on a proposal regarding human rights after it unsuccessfully sought SEC no-action relief to omit the resolution. The measure urges Pfizer’s board ‘to oversee conduct of human rights due diligence (HRDD) to produce a human rights impact assessment covering Pfizer’s operations, activities, business relationships and products… The [assessment] should describe actual and potential adverse human rights impacts identified in the course of HRDD, identify rightsholders that were consulted and discuss whether and how the results of the [assessment]…
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Walgreens hires legal chief from Ecolab
Lanesha Minnix to join the company on April 15 Walgreens Boots Alliance (WBA) has named Lanesha Minnix as the company’s next global chief legal officer (CLO) and executive vice president, effective April 15. Minnix will join WBA from Ecolab, where she has been executive vice president, general counsel and corporate secretary. She will report to WBA chief executive Tim Wentworth and oversee the company’s global legal, compliance, corporate governance and corporate security functions. According to her LinkedIn profile, Minnix joined Ecolab in 2022. Before that she was senior vice president and CLO for Flowserve, leading the company’s legal, compliance and…
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Director education and training: How to prepare your board for the road ahead
Governance Playbook ‘Director education and training: How to prepare your board for the road ahead’, sponsored by SAI360, provides expert advice from governance professionals and board members on a key element of their work in supporting boards. It lays out actionable steps and best practices for corporate secretaries seeking to design and adapt their training programs to help their board successfully carry out its duties and help the company thrive. DownloadGovernance Playbook: Director education and training: How to prepare your board for the road ahead here >> Key findings Education and training is essential if the board is to fulfill…
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The week in GRC: New York attorney general accuses JBS of greenwashing and Norfolk Southern plans board refresh
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal (paywall) reported that the Federal Trade Commission (FTC) sued to block Kroger’s $25 bn bid for Albertsons, raising questions about one of the largest ever supermarket deals. The FTC in its lawsuit said the deal would result in higher food prices and lower wages for employees and asked a court to block the companies from closing their deal on antitrust grounds. The companies’ plan to address the government’s concerns by selling stores in Washington, Colorado and other states would not solve the problem, the…
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ESG in Canada: Report shows investor shift from sustainability to impact
Biodiversity emerging as a key area of interest alongside climate More than two fifths (43 percent) of Canadian institutional investors plan to launch impact products this year, according to research. That was the big surprise to come out of interviews with 32 Canadian institutional investors, representing around C$4.5 tn ($3.3 tn) in assets. Researchers point to an increasingly ‘nuanced’ understanding of themes under the ESG umbrella, with biodiversity emerging as a key area of interest alongside climate. ‘The conversation is expanding from a focus on climate change and broadening to ‘environment’ as a topic area,’ researchers note in the semi-annual…
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Boeing defense unit general counsel to become company’s HR chief
Uma Amuluru is a former prosecutor and White House attorney Boeing is promoting the general counsel of its defense business to become the company’s chief human resources officer and executive vice president, effective April 1. Uma Amuluru is currently vice present and general counsel to Boeing defense, space and security. She will succeed Michael D’Ambrose, who has announced his plan to retire. In her new role, Amuluru will be responsible for Boeing’s talent planning, global talent acquisition, learning and development, compensation and benefits, employee and labor relations and diversity and inclusion initiatives. She will report to Boeing president and CEO…
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Vail Resorts appoints general counsel from in-house
Julie DeCecco has been with the company since 2017 NYSE-listed Vail Resorts has promoted Julie DeCecco to general counsel and executive vice president. DeCecco was previously the company’s deputy general counsel and vice president. She joined Vail Resorts in 2017 as associate general counsel and the following year was promoted to deputy general counsel. She oversees legal matters for the company’s corporate functions in addition to its mountain division, comprising 41 mountain resorts across 15 states and four countries. She also heads up the company’s real estate division and previously led community relations. Before joining Vail Resorts, DeCecco was associate…
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FCPA enforcement trends for boards and management to follow in 2024
Amid a continued focus on FCPA enforcement, John Davis explains US agencies’ priorities and evolving practices In 2024, the US Foreign Corrupt Practices Act (FCPA) and related laws will continue to present potentially significant risks requiring attention by senior management and boards. Here are six key trends to watch. 1. Case numbers are down but enforcement remains a priorityAlthough the number of announced corporate FCPA dispositions has been lower in the past several years than pre-pandemic levels, the US Department of Justice (DoJ) and the SEC will continue to focus on FCPA enforcement, as indicated by recent speeches and cases.…
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Entity Management: Keeping the corporate structure efficient and safe now available
Governance Intelligence’s ‘Entity Management: Keeping the corporate structure efficient and safe’ presents the findings from exclusive research delivering actionable insights into, among other things, which team is responsible for entity management, how much and in what areas companies use outside advisers/service providers, changes in the resources deployed to entity management and the use of technology – including AI – and priorities for entity management work. DownloadEntity Management: Keeping the corporate structure efficient and safe here >> The findings in this report are based on an online survey conducted among governance professionals such as general counsel, corporate secretaries and their teams…