Archive
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Debate looms over SEC shareholder proposals plan
Agency’s move would potentially allow more resolutions onto proxy statements The SEC’s plan to update the grounds on which companies may be allowed to exclude shareholder proposals looks set to divide opinion along traditional lines, even with the deadline for official feedback more than a month away. The commission last month proposed amendments to Rule 14a-8, which governs the process for including shareholder proposals in a company’s proxy statement. The rule provides several bases on which companies can apply for no-action relief if they exclude a proposal. The proposed amendments would revise three of these bases for exclusion. SEC chair…
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North American boards lag on executive pay ESG links, survey finds
Concept of using ESG metrics gaining ground globally Online gaming company FanDuel Group has appointed Carolyn Renzin to the position of chief legal officer in addition to her existing role as chief compliance officer. In her new role, Renzin oversees legal, risk, regulatory engagement, compliance and responsible gaming for the company. Before joining FanDuel in 2019, she was an assistant general counsel at JPMorgan Chase & Co. In that position, she worked as a regulatory litigator following the financial crisis and in the office of the general counsel to help build out the bank’s legal function. Renzin joined JPMorgan Chase…
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Governance Matters podcast: Getting directors on board to tackle climate crisis
This episode of the Governance Matters podcast looks at changing board attitudes toward climate change and what investors are looking for from directors in terms of climate-related skills and knowledge ‘Corporate boards get to decide whether they want to go the route of the phoenix or the dodo,’ says Veena Ramani, research director at FCLTGlobal, paraphrasing BlackRock chair and CEO Larry Fink in the latest episode of the Governance Matters podcast. A major barrier to combating climate change is the short-term views many companies – and investors – still take when it comes to meeting the market’s quarterly expectations of…
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Drone company Draganfly hires legal chief
Deborah Greenberg was previously chief information and legal officer with CMHC Draganfly has hired Deborah Greenberg as chief legal officer (CLO). Greenberg was previously chief information officer and CLO at Canada Mortgage and Housing Corporation (CMHC). She joined CMHC as CLO and corporate secretary with responsibility for developing and overseeing its legal and governance framework before also taking on the chief information officer role. Before joining CMHC, Greenberg was general counsel at Aimia. She began her legal career at law firm Davies Ward Phillips & Vineberg before leaving private practice to become a legal adviser for companies including Air Canada.…
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The week in GRC: Top in-house counsel see compensation rise and BlackRock supports fewer E&S proposals
This week’s governance, compliance and risk-management stories from around the web – CNBC reported that Tesla disclosed it had received a second subpoena from the SEC regarding CEO Elon Musk’s tweets in 2018 about taking the company private. Tesla said in a filing that it received the subpoena on June 13. The agency had initially subpoenaed the company in November related to a settlement that required Musk’s tweets on material information to be vetted. The company said on Monday it will co-operate with the government authorities. The SEC declined to comment. – Reuters said that, according to a new report,…
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CarGurus hires general counsel
Javier Zamora previously worked at Converse and Nike Nasdaq-listed CarGurus has hired Javier Zamora as general counsel, reporting to CEO Jason Trevisan. Zamora most recently was general counsel of Converse, a stand-alone subsidiary of Nike. In that role he was a member of the executive team responsible for global enterprise legal, regulatory, compliance and corporate secretarial functions. He was also executive sponsor of the Converse Mosaic Employee Network and co-chair of its Military Veterans Network. According to his LinkedIn profile, before his time with Converse Zamora spent 13 years with Nike in a number of senior legal roles. His responsibilities…
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Freddie Mac appoints compliance chief
Dennis Hermonstyne most recently was CCO of Santander Bank Freddie Mac is hiring Dennis Hermonstyne as senior vice president and chief compliance officer (CCO), effective September 19. Hermonstyne will be a member of the company’s senior operating committee and report directly to CEO Michael DeVito in addition to working closely with chief risk officer Anil Hinduja. As CCO, Hermonstyne will head up Freddie Mac’s compliance risk management program in relation to the company’s legal, regulatory and conservatorship obligations. Hermonstyne most recently was executive vice president and CCO of Santander Bank, based in Boston. In that role he was responsible for…
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Sustainability on the chopping block as economic squeeze bites, survey finds
June CEO and CFO survey finds M&A and sustainability first to face cuts if economic conditions continue As companies grapple with a ‘triple squeeze’ on finances, CEOs and CFOs say investment in M&A and sustainability will be the first to face cuts if the current economic situation doesn’t improve, according to a new survey. Rising inflation, talent shortages and supply constraints are all taking their toll on companies, Gartner says. At the start of the Covid-19 pandemic, many expected companies to shift their focus away from ESG issues as executive teams doubled down to keep companies going. Instead, firms continued…
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Gilead Sciences picks successor to general counsel
Brett Pletcher to retire after 17 years with Gilead Corporate Secretary has announced the panel of judges who will decide the winners of this year’s Corporate Governance Awards, for which submissions are due by July 29. Prabha Sipi Bhandari is a new member of the panel this year. She recently joined American International Group (AIG) as senior vice president, deputy general counsel and corporate secretary. Bhandari previously was senior vice president and principal deputy general counsel at Freddie Mac. Before that, she spent more than a decade at Deutsche Bank in senior positions managing legal groups covering M&A and conflicts…
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Corporate Governance Awards judges announced, with submissions due July 29
Judging panel includes new distinguished members Nasdaq-listed Gilead Sciences has picked Deborah Telman to become executive vice president for corporate affairs, general counsel and corporate secretary, effective August 1. She will report to chair and CEO Daniel O’Day. In her new role, Telman will be responsible for Gilead’s legal and corporate affairs function, which includes government and policy and public affairs. She will succeed Brett Pletcher, who is retiring from Gilead after 17 years with the company. Telman is joining Gilead from Organon, where she most recently was the general counsel and had responsibility for legal affairs, ethics and compliance…
