Archive
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General counsel launches ethics oath for in-house leaders
Pledge said to work globally and is comparable to Hippocratic Oath The general counsel of a UK-based digital marketing communications company has created a professional oath he hopes will be taken by senior in-house legal and compliance officials around the world. The general counsel oath is analogous to the Hippocratic Oath doctors take at the beginning of their career and is suggested for existing and incoming general counsel or individuals in roles such as chief legal officer, legal director, chief compliance officer or chief ethics officer. It can be used globally, according to its author Simon Zinger. Zinger is group…
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Regions’ Mehlman joins Bank of the West
Hope Mehlman was named Corporate Secretary’s 2019 governance professional of the year (large cap) Hope Mehlman has started work as general counsel and corporate secretary at Bank of the West. San Francisco-based Bank of the West is a subsidiary of French bank BNP Paribas. Mehlman is now also corporate secretary at BNP Paribas USA. Mehlman succeeds Vanessa Washington, who will retire from the bank at the end of the month after 14 years with the company. Mehlman was previously executive vice president, corporate secretary, chief governance officer and deputy general counsel at Regions Financial Corporation, based in Birmingham, Alabama. In…
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Rise in Canadian companies publishing sustainability reports
But Canada still lags the US, study finds More than half (58 percent) of companies on the S&P/TSX Composite Index have published a sustainability report this year – a rise of 10 percentage points on last year, according to the latest ESG disclosure study from Millani. The report authors estimate that by the end of this year, 66 percent of the S&P/TSX Composite will have published a sustainability report, based on which companies historically publish sustainability reports between now and the end of the year. While that represents an increase on last year, Canadian companies still lag large US companies:…
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Kelly hires new general counsel
Vanessa Williams most recently worked at IHS Markit Employment services company Kelly has hired Vanessa Williams as senior vice president and general counsel. In her new role, Williams leads the strategic direction of Kelly’s legal and corporate security teams, including managing regulatory and legal compliance, directing strategic legal initiatives and advising senior management regarding company objectives. She reports to president and CEO Peter Quigley. Williams was most recently a senior vice president in legal, risk and compliance at IHS Markit. Before its acquisition by IHS, she spent seven years at RL Polk. She began her legal career at Plunkett &…
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The week in GRC: ESG index funds double in three years, and SEC delays vote on whistleblower program
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that several dozen former McDonald’s Corp franchisees sued the company, alleging it unfairly treated black owners by selling them below-par stores and failing to support their businesses. The lawsuit accused McDonald’s of steering black franchisees to restaurants in undesirable locations in inner cities for several years. Those restaurants were destined to fail, and often had lower sales and higher operating costs, according to the lawsuit. Many of the 52 former owners from 18 states said they lost their businesses over the past four…
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SSGA to seek racial diversity disclosures
Asset manager adding topic to its engagement – and potentially voting State Street Global Advisors (SSGA) is adding to the growing social and investment pressure on corporations to take issues of racial diversity, equity and inclusion more seriously. In a letter to board chairs released last week, SSGA global chief investment officer Richard Lacaille explains that starting in 2021 the asset manager – which has roughly $3 trillion in assets under management – will ask portfolio companies to explain their risks, goals and strategy relating to racial and ethnic diversity and to make relevant disclosures to shareholders. ‘The ongoing issue…
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Covetrus hires new general counsel
Jamey Seely was previously president and general counsel of Integra Nasdaq-listed Covetrus has recruited Jamey Seely as its next general counsel and corporate secretary. She reports to chief administrative officer Dustin Finer. Seely previously held both business and legal roles while working as president and general counsel of Integra, which develops blockchain technology for the legal industry. Earlier in her career she was executive vice president and general counsel of the Gates Industrial Corporation, where she was involved in the company’s IPO. Among other roles, she was executive vice president, general counsel and corporate secretary at ION Geophysical. She has…
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Herbalife to pay $122 million to resolve FCPA actions
SEC and DoJ allege improper payments by Chinese subsidiary Herbalife Nutrition has agreed to pay a total of roughly $122 million to settle allegations that it violated the books and records and internal accounting controls provisions of the FCPA. The company will pay the SEC more than $67 million in disgorgement and interest. In a parallel action, the US Department of Justice (DoJ) and the US Attorney’s Office for the Southern District of New York said Herbalife will pay a criminal fine of more than $55 million. Under that action, Herbalife has entered into a three-year deferred prosecution agreement (DPA)…
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Allstate reveals succession plan for top attorney
Rhonda Ferguson to join company later this month Rhonda Ferguson will join The Allstate Corporation on September 28 as executive vice president and general counsel. She will succeed Susie Lees, who has announced her intention to retire in 2021 having spent 32 years at Allstate. Lees will remain chief legal officer (CLO) and corporate secretary and, during the transition, will expand her focus on Allstate’s ESG initiatives. Ferguson is moving to Allstate from Union Pacific Railroad, where she has been executive vice president, CLO and corporate secretary with responsibility for all legal, regulatory and corporate governance matters. She joined Union…
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ESG communications FAQ: How to build back better
Covid-19 crisis means ESG communications plans need to be rethought and updated, say Heather Keough, Chris Plath and Miguel Santisteve With the initial shock of the Covid-19 pandemic behind us, companies must look forward to continuing business and their dialogue with investors despite the multitude of uncertainties ahead. What does effective ESG communication look like in the new normal? Here we answer some common questions impacting corporates. How has Covid-19 affected the drive for standardized reporting? We think investor demand for greater standardization in sustainability reporting frameworks such as the Sustainability Accounting Standards Board (SASB) and Task Force on Climate-related…