Archive
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How HPE’s governance team makes maximum use of tech
Why the company won the best use of technology prize at Corporate Secretary’s Corporate Governance Awards Technology is in Hewlett Packard Enterprise’s (HPE) DNA, so it is only right that the company’s governance team makes the most of new tools to help it operate smoothly, effectively and innovatively. An important example is the adoption of virtual reality (VR) in recent years. Kyle Frankeny, senior counsel for corporate, securities and M&A, explains that VR breaks down barriers and means it doesn’t matter where team members are located when working together. He adds that it’s easier to focus in a virtual meeting,…
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Retail investors support making companies accountable for ESG damages
But only 40 percent of surveyed adults use their shareholder vote in AGMs More than 70 percent of US retail investors believe companies must be held accountable for any environmental or social damages they cause, according to activist investing platform Tulipshare. Despite the high percentage of surveyed retail investors who support holding companies responsible for ESG damages, less than half (40 percent) say they use their shareholder vote at AGMs to tackle the issue. Research conducted among 1,000 US adults in March by Tulipshare finds AGM turnout in the US is consistently low across all age groups. Notably, the 18-24…
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The week in GRC: FinCEN to change reporting plans for corporate-ownership database and Salesforce avoids proxy fight
This week’s governance, compliance and risk-management stories from around the – According to Reuters (paywall), Salesforce said activist investor Elliott Management has decided against proceeding with director nominations to its board due to the company’s strong earnings and 2024 transformation initiatives. ‘Salesforce and Elliott have committed to continue the productive working relationship they have developed together,’ the firms said in a joint statement. – The Financial Times (paywall) reported that Alibaba is planning a restructuring to split its logistics, cloud and local services from its main e-commerce business. The reorganization will turn Alibaba into a holding group, with each of…
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Patents and politics among early US proxy season highlights
Groups want to know about patent extensions amid political scrutiny of drug prices Shareholder proposals targeting major pharmaceutical companies and resolutions looking into corporate spending on political activities are among those featuring in what is set to be another groundbreaking US proxy season for ESG. Ahead of this year’s AGMs, the Interfaith Center on Corporate Responsibility (ICCR) co-ordinated the filing of proposals with nine pharmaceutical companies about their use of intellectual property. The companies at issue are AbbVie, Amgen, Bristol Myers Squibb, Eli Lilly and Company, Gilead Sciences, Johnson & Johnson, Merck & Co, Pfizer and Regeneron Pharmaceuticals. In each…
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TNFD launches final beta version of nature-related risk-management framework
Updates for number of recommended disclosures and sector guidance The Taskforce on Nature-related Financial Disclosures (TNFD) has released the fourth and final version of its framework designed to measure and address nature-related risks at public companies. The move comes as TNFD gets ready to publish its final recommendations in September 2023. In a statement, the body says that since it started putting together the framework in October 2021, it has received endorsements from more than 1,000 organizations included in the TNFD forum and an additional 200 firms, which are now testing ‘aspects’ of the frameworks across different countries and sectors.…
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Special Report: Corporate Governance Awards 2022
This special report celebrates the winners of Corporate Secretary’s 15th annual Corporate Governance Awards. In this publication, we speak to the honorees and hear how they successfully approach some of the key corporate governance challenges that face governance professionals and their companies. The accounts of their excellent and often innovative work provide insights into some of the latest best practices. Click to read Corporate Secretary – Corporate Governance Awards 2022 – Winners report The awards were presented at a ceremony in New York. They recognize that, as always, GRC professionals are adept in finding new ways to maintain standards and…
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Smithfield Foods appoints general counsel
Tennille Checkovich joined the company in 2020 Companies should be completely transparent when it comes to their messaging and communication of ESG strategies, according to professionals at the latest event from Corporate Secretary’s sister publication, the IR Magazine Think Tank – West Coast. During the event, held in Palo Alto, California on March 22, investor relations experts re-emphasized the importance of clear communication and never being in a position where ‘you want to say you’re doing something that you’re not’. ‘There have been some rather large names that have settled with the SEC over greenwashing claims,’ said a member at…
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Professionals emphasize importance of transparency when promoting ESG strategies
‘You have to be really careful about what you say and be able to back it up’ U-Haul International is promoting Kristine Campbell to become its new general counsel, effective May 12. Campbell joined the U-Haul legal team in 2011. She was assistant general counsel for nine years and has been director of litigation since 2020. According to her LinkedIn profile, she was previously a class action and commercial litigation attorney with Greenberg Traurig. Campbell will succeed Larry De Respino, who is retiring after 18 years in the role and more than two decades at the company. He joined U-Haul…
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U-Haul names successor general counsel
Kristine Campbell has been with the company since 2011 Smithfield, Virginia-based Smithfield Foods has promoted Tennille Checkovich to become general counsel. She reports to Mike Flemming, Smithfield’s chief legal officer (CLO). Checkovich joined Smithfield in 2020 and most recently was the company’s deputy general counsel for litigation. In her new role, she is responsible for managing all litigation involving the company, overseeing risk management regarding a wide range of regulatory and compliance issues, and assisting the CLO with managing the legal team. Before joining Smithfield, Checkovich was an equity partner at McGuireWoods in the law firm’s business and securities litigation…
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Investors and companies press US authorities to defend sustainable finance
More than 270 signatories want to protect ability to take into account ESG factors – CNBC reported that the United Nations published a landmark report urging governments to begin an urgent course correction to tackle the climate crisis, warning that existing plans were insufficient to prevent the worst of what is to come. The UN’s Intergovernmental Panel on Climate Change (IPCC) said the unprecedented challenge of keeping global warming to 1.5°C above pre-industrial levels had become even greater in recent years due to increasing global greenhouse gas emissions. ‘Mainstreaming effective and equitable climate action will not only reduce losses and…