Archive
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Share ownership becoming more concentrated, MSCI research shows
Growing concentration of ownership and control of global equities could result in a loss of influence and make engagement with listed companies more difficult, firm warns Equities ownership concentration has rapidly increased in recent years, according to new research from MSCI. The research finds that 46 percent of companies on the MSCI ACWI Index (the firm’s flagship global equity index) now have one or more shareholders or shareholder blocks holding 30 percent or more of the issuer’s voting shares. By comparison, in 2015 less than a third of companies (32 percent) had such an ownership concentration. MSCI considers a company…
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KKR names next general counsel and CLO
Kathryn King Sudol is joining from law firm Simpson Thacher & Bartlett KKR & Co has hired Kathryn King Sudol as its next general counsel. She will succeed David Sorkin, who has been KKR’s general counsel since 2007 and will become its chief legal officer (CLO). Both appointments are effective as of September 6. At the end of the first quarter of 2023, Sudol will take on the CLO role and Sorkin will become an advisory partner of KKR. David Sorkin, KKR Sudol is joining the investment firm from Simpson Thacher & Bartlett, where she is global co-head of M&A.…
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The week in GRC: Few US companies disclose pay data by race and GameStop board approves stock split
This week’s governance, compliance and risk-management stories from around the web – According to The Wall Street Journal (paywall), firms that verify companies’ climate data are at odds over who is qualified to perform the work, a key feature of the SEC’s proposed requirements for new disclosures on the topic. The SEC has proposed that companies seek independent certification of certain new disclosures, including estimates of greenhouse gas emissions from their operations and from the energy they consume. The assurance requirement would apply to companies with at least $250 mn in publicly traded shares. Under US securities laws only certified…
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Oracle’s general counsel to retire
Dorian Daley joined the company in 1992 Company veteran Dorian Daley is retiring as Oracle Corporation’s executive vice president and general counsel. According to an SEC filing, Daley on June 27 gave notice of her intention to retire in August. The filing states that she will assist in the transition of her duties until her retirement becomes effective. It provides no further details and an Oracle spokesperson did not respond immediately to a request for comment. Dorian Daley Daley joined Oracle in 1992 after spending five years with the commercial litigation group of Landels Ripley & Diamond in San Francisco.…
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International Paper appoints new general counsel
Joseph Saab has been with the company for more than 20 years Leading governance and investor relations professionals will gather in New York next week to share their expertise and practical guidance on how colleagues can address some of the most pressing ESG issues facing US companies. Those include the implications of this year’s proxy season, getting boards on track to handle ESG and having successful communications with the outside world, including on political issues. The ESG Integration Forum & Awards – Summer takes place next Thursday, July 14, in person in New York. Details of the agenda and the…
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Governance professionals to share advice at ESG forum next week
Winners of inaugural ESG Integration Awards also to be announced at July 14 event in New York Joseph Saab has become senior vice president, general counsel and corporate secretary of International Paper, effective July 1. Saab joined Memphis, Tennessee-based International Paper in 2001 as legal counsel for environment, health and safety having previously worked as an environmental lawyer. From 2005 to 2010, he held a variety of positions in the company’s corporate law group, including chief counsel for global governance and compliance and general counsel for Paper the Americas. In 2014, he became associate general counsel for industrial packaging in…
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Meetings with non-domestic investors increase since start of pandemic, research shows
More than 60 percent expect trend to continue though 2022 Almost four in 10 (38 percent) companies globally say they have seen an increase in the number of meetings with investors from outside their own region since the start of the Covid-19 pandemic, according to new research from Corporate Secretary sister publication IR Magazine. The Corporate Access II report shows that this increase in non-domestic investor engagement has been most notable among North American and European companies. More than four in 10 (41 percent) of North American companies say they have seen an increase in meetings with investors from outside…
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The week in GRC: US Supreme Court limits EPA’s power to curb emissions and Spirit delays shareholder vote on merger
This week’s governance, compliance and risk-management stories from around the web – Reuters reported that a growing number of large US companies have said they will cover travel costs for employees who must leave their home states to access abortions, but these new policies could expose businesses to lawsuits and even potential criminal liability, according to legal experts. Amazon.com, Apple, Lyft, Microsoft and JPMorgan Chase & Co were among companies that announced plans to provide those benefits through their health insurance plans in anticipation of the US Supreme Court decision overturning the landmark Roe vs Wade ruling that had legalized…
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SAIC names former official as next general counsel
Hilary Hageman was deputy general counsel with SAIC until 2019 Hilary Hageman is rejoining Science Applications International Corp (SAIC) as executive vice president, general counsel and corporate secretary, effective July 11. Hageman worked at SAIC as a senior vice president and deputy general counsel until 2019, when she became general counsel and corporate secretary of Cubic Corporation, a defense and transportation company. According to her LinkedIn profile, she became executive vice president, general counsel and corporate secretary at Terran Orbital Corporation in August last year. Her profile states that before joining SAIC she spent nine years at CACI International, most…
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Executive Compensation: Insight on companies’ governance
Corporate Secretary’s ‘Executive compensation: Insight on companies’ governance’ report reveals findings from a survey conducted among in-house governance professionals such as general counsel, corporate secretaries and their teams. The results provide useful insight into, among other things, which members of the board are involved in compensation oversight, the extent to which outside advisers are used, the impact of Covid-19, investors’ interest in the space, director engagement and linking executive compensation to ESG. The findings in this report are based on an online survey conducted between December 2021 and February 2022. Click here to download the report >> Key findings Globally,…