Archive
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Nomination process opens for Corporate Governance Awards 2020
Deadline for submissions is Friday, July 31 Canton, Massachusetts-based Dunkin’ Brands, the parent company of Dunkin’ and Baskin-Robbins, has promoted Ryan Schaffer to become vice president and managing counsel. In his new role, Schaffer heads up a team responsible for performing and supporting key functions such as corporate governance, SEC reporting and compliance, investor relations, franchise disclosure, privacy and data security, IT, supply chain and certain market operations. He reports directly to David Mann, senior vice president and chief legal officer of Dunkin’ Brands. Schaffer joined Dunkin’ Brands more than eight years ago and most recently was senior director, legal…
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How CEOs can get the most from boards
CEOs should take more proactive role in helping boards become strategic players, say Maureen Bujno and Benjamin Finzi Canadian institutional investors plan to maintain their focus on climate change despite the upheaval caused by Covid-19, according to new research. Although the pandemic is the top concern for investors right now, climate change remains a key issue and companies should prepare for a continuation of ‘challenging questions’ on the subject, the report from ESG consultancy Millani notes. The study, which surveyed the views of 23 Canadian institutions with a combined $2.3 trillion in assets under management, finds that 87 percent say…
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US mid-caps warm to stakeholder value
More than 70 percent of mid-cap executives focused on wider stakeholder picture in last year, survey finds US mid-cap companies are focusing on more than just shareholder returns by increasing the integration of ESG factors into their business performance planning, according to new research. In a survey of 400 middle-market executives, 74 percent say formulating plans to develop and appropriately compensate employees is important, followed by 70 percent who emphasize the importance of providing value to customers. Delivering results to investors rounds out the top three most-important picks. Among other choices in the research, more than half (56 percent) of…
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Canadian investors to maintain climate focus amid Covid-19
Companies should prepare for continuing questions on climate risks, report finds There is no shortage of information on how boards can more effectively oversee management. But there is still much to be learned about how CEOs can orchestrate their relationship with the board to optimize its potential to become a strategic asset for the company, as distinct from its more traditional role as overseer of management. Long gone are the days when boards were composed of the CEO’s best friends and fans. The CEO is often seen as carrying the bulk of the responsibility for running the company, and accountable…
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The week in GRC: Lockdowns may slow government probes of companies, and shareholders re-elect BlackRock board
This week’s governance, compliance and risk-management stories from around the web – According to CNN, SoftBank announced that Alibaba founder Jack Ma had decided to resign from its board. Ma, who is still a director of the Chinese e-commerce company, had held the seat for nearly 13 years. He is the latest noteworthy board member to leave, after billionaire and Fast Retailing founder Tadashi Yanai’s departure at the end of last year. Ma’s departure comes as SoftBank takes steps to improve its finances, including a plan to sell $41 billion in assets to buy back shares and reduce the company’s…
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XPO Logistics shareholders reject exec comp proposals
Proposals would have tied pay to ESG metrics and sexual harassment prevention Shareholders in XPO Logistics last week rejected proposals including two that would have linked executive compensation at the company to either ESG metrics or efforts to stop sexual harassment – but voting also indicated a level of opposition to the company’s overall executive compensation. As with hundreds of other companies, XPO Logistics held its May 14 AGM in a virtual format due to the public health concerns arising from the Covid-19 pandemic. If approved, one proposal would have called on the XPO Logistics board to ‘examine and report…
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New York Life promotes deputy to general counsel
Natalie Lamarque has been with the company since 2014 New York Life Insurance Company has promoted Natalie Lamarque to become senior vice president and general counsel. Lamarque was previously deputy general counsel, charged with overseeing litigation and the legal responsibilities of the investment, asset management, technology and intellectual property areas at the company. She also chaired the New York Life privacy working group, an in-house think tank that acts as a resource for the company on privacy issues. In her new role, Lamarque has day-to-day oversight of the office of the general counsel, which includes the insurance and agency, investments,…
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Surmodics recruits general counsel
Gordon Weber was previously general counsel at CHF Solutions Nasdaq-listed Surmodics has hired Gordon Weber as senior vice president of legal, general counsel and secretary, effective May 13. In his new role, Weber is responsible for executive oversight and overall management of the company’s legal team and for providing counsel and guidance on legal matters. He is a member of the senior leadership team reporting directly to president and CEO Gary Maharaj. Eden Prairie, Minnesota-based Surmodics is a provider of medical device and in-vitro diagnostic technologies to the healthcare industry. Weber previously served as vice president and general counsel at…
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Guardian promotes DiManni to deputy general counsel
Insurer won the 2019 Corporate Governance Award for best overall governance at a private company The Guardian Life Insurance Company of America has promoted Margherita DiManni to the position of senior vice president and deputy general counsel. In her new role, DiManni reports to Kermitt Brooks, Guardian’s executive vice president and general counsel. She helps guide the company’s enterprise-wide legal, compliance, corporate governance and government affairs functions with an emphasis on M&A, corporate finance, capital markets, corporate real estate and other strategic initiatives. Guardian, a mutual company with policyholders rather than shareholders, won the 2019 Corporate Governance Award for best…
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ESG reporting in a crisis: A luxury firms cannot afford?
Growing evidence points to outperformance by companies with high ESG standards, says Oliver Schutzmann When Saudi Aramco announced its Q1 earnings recently, media attention was firmly on the announced lower profits and the maintenance of the oil giant’s large dividend. What was less remarked upon was the fact that around 25 percent of the Q1 earnings press release concerns itself not with financials or commentary on financial performance; no, the final quarter of the release focuses on a ‘Covid-19 Update’. And this update consists of the following: how we are protecting our people, operations and communities. The actions outlined are…