Archive
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The week in GRC: SEC approves pay vs performance rule and Apple workers push back on return-to-office policy
This week’s governance, compliance and risk-management stories from around the web –Bloomberg reported that McDonald’s will add Marriott International CEO Anthony Capuano to its board as part of a handful of changes. In addition to Capuano, the board is adding Jennifer Taubert, an executive vice president and worldwide chair of pharmaceuticals at Johnson & Johnson, and Amy Weaver, CFO at Salesforce. All three appointments are effective October 1. Sheila Penrose will retire from the board at the end of September after more than 15 years, the company said. Penrose led the board’s sustainability and corporate responsibility committee, and all three…
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Chemours general counsel to retire
Kristine Wellman will be promoted as successor David Shelton, senior vice president, general counsel and corporate secretary, has announced he plans to retire from The Chemours Company at the end of 2023, according to the firm. As a part of the transition process, Shelton will from October 1 focus on managing the ‘resolution of the company’s legacy liabilities and related remediation programs’ and be a legal adviser to CEO Mark Newman, Chemours says in a statement. Kristine Wellman, who is at present vice president for strategic planning, on October 1 will be promoted to become senior vice president, general counsel…
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S&T Bancorp appoints successor to general counsel
Rachel Smydo previously was with the Federal Home Loan Bank of Pittsburgh Nasdaq-listed S&T Bancorp, the holding company for S&T Bank, has hired Rachel Smydo to take on the role of general counsel, effective August 22. Smydo succeeds George Basara, who will retire at the end of the month. She is also corporate secretary at the bank. Smydo most recently was deputy general counsel at the Federal Home Loan Bank of Pittsburgh, Pennsylvania. Before that she was senior counsel with The PNC Financial Services Group. She began her career at law firm Reed Smith as a corporate and securities associate.…
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Dynatrace appoints general counsel and ESG leader
Nicole Fitzpatrick previously worked at cloud computing firm Akamai Technologies Derek Butcher is part of the nine-strong corporate governance and responsible investment team at RBC Global Asset Management (RBC GAM), which manages more than $408 bn in assets (as of June 30, 2022). He tells Corporate Sister publication IR Magazine about the nuances of tying EGS metrics – some of which can be difficult to quantify and are seen as less rigorous – to executive pay. Is there a ‘sweet spot’ when it comes to setting ESG metrics for executive pay? For example, what combination of long and short-term incentives…
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RBC GAM on tying ESG to executive pay
Derek Butcher, senior manager, corporate governance and responsible investment at RBC Global Asset Management, talks investor engagement, investor scrutiny and keeping it simple NYSE-listed software intelligence company Dynatrace has appointed Nicole Fitzpatrick as general counsel. In her new role, Fitzpatrick oversees all Dynatrace legal and regulatory affairs globally and leads the company’s global ESG program. According to her LinkedIn profile, she previously spent 13 years at cloud computing firm Akamai Technologies in a number of positions, most recently chief ESG officer and deputy general counsel. Before Akamai, she was a partner with law firm Goodwin Procter. Before that she was…
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The week in GRC: Labor leaders worry about NLRB resources and US ESG funds see ‘tepid’ inflows
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that the Federal Trade Commission (FTC) under chair Lina Khan is questioning mergers that likely would have gone unchallenged in previous years. ‘In all too many areas of our economy, including agriculture, airlines, healthcare, we’ve seen significant consolidation and reduction of competition,’ Khan said. ‘Mergers have played a role in that.’ The FTC issued 42 letters of investigation over mergers or similar transactions during the 2021 fiscal year, almost double the number for 2020 and the highest total in more than 10 years.…
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Norway’s NBIM places focus on human capital
World’s biggest sovereign wealth fund publishes new expectation document for the more than 9,000 companies in which it is invested globally ‘Companies that invest in their workers and effectively harness the value of their human capital are more likely to be successful over the long term,’ says Norges Bank Investment Management (NBIM) as it launches a new paper setting out its expectations around human capital. ‘Human capital management (HCM) will be a priority in our ownership work going forward.’ NBIM, which manages Norway’s $1.3 tn Government Pension Fund Global, this week revealed record first-half losses as its return on investment…
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L&T Technology Services hires global general counsel
Nandini Nair joins the company from private practice L&T Technology Services has appointed Nandini Nair as the company’s global general counsel. As part of her new role, Nandini oversees all legal matters affecting the company including work site and legal compliance, labor and employment, immigration, litigation and contracts. She is based out of the Indian company’s US corporate headquarters in Edison, New Jersey. According to her LinkedIn profile, she was previously a partner with law firm Greenspoon Marder for more than four years. Before that, she spent more than 13 years as founder and managing attorney of her own legal…
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RE/MAX parent appoints general counsel and compliance chief
Susie Winders has been with the company since 2009 A newly launched index tracking off-trend earnings announcements from US companies had a score of 144 for Q2 2022 – higher than the Q1 2020 reading of 133 when companies were ‘grappling with the beginning of the Covid-19 pandemic.’ The Late Earnings Report Index (Leri) from corporate data firm Wall Street Horizon tracks how many earnings date confirmations are later or earlier than their historical norm. A reading over 100 demonstrates more companies are delaying reports – signaling that investors should keep a more careful eye on the market, according to…
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More companies delayed earnings in Q2 than at start of pandemic, research finds
Wall Street Horizon’s Late Earnings Report Index has been ‘trending higher’ in recent months, firm says NYSE-listed RE/MAX Holdings, parent company of RE/MAX and Motto Mortgage, has promoted Susie Winders to become general counsel, chief compliance officer and corporate secretary. Winders most recently was vice president, assistant general counsel for RE/MAX, managing its legal department’s litigation teams and overseeing elements of the compliance program. In her new role, she leads the legal and contracts departments, which handle corporate governance and compliance, trademark and advertising, franchising, M&A, contracts and licensing, litigation, privacy and employment matters. RE/MAX is one the largest US…