Archive
-
New York’s public pension fund to divest over energy transition risk
Review focused on shale oil and gas industry New York State’s public pension fund has announced that it will divest from nearly two dozen stocks involved in shale oil and gas production. The New York State Common Retirement Fund, which manages around $280 bn on behalf of more than one million individuals, says the 21 companies have ‘failed to demonstrate they are prepared for the transition to a low-carbon economy.’ Thomas DiNapoli ‘As market forces and new policies drive the energy transition, we must align our investments with a profitable and dynamic future,’ says Thomas DiNapoli, New York State comptroller,…
-
The week in GRC: SEC proposes whistleblower rule changes and BlackRock names new risk chief
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that as the Biden administration prepares a wave of new regulations, it is sparking resistance campaigns from business lobbyists representing financial services, agribusiness, medical-device makers and others. The White House’s newly installed chiefs at regulatory agencies are rolling out a lengthy list of new rules. For example, financial regulators are advancing measures seeking to address climate change and workplace diversity, crack down on Wall Street profiteering and reduce credit-card and banking fees for consumers. ‘There’s growing concern within the business community that there…
-
Amazon seeks go-ahead to omit shareholder proposals
Topics at issue include ‘concealment clauses’ Amazon.com has filed requests seeking the SEC’s green light to exclude 12 shareholder proposals from its 2022 proxy statement, including one on ‘concealment clauses’ in employment contracts. The SEC is yet to make a public decision on the requests. Amazon has not yet filed its proxy statement for 2022 but its 2021 AGM took place on May 26. A company spokesperson had no comment beyond Amazon’s filings. One of the proposals at issue requests that Amazon’s board ‘prepare a public report assessing the potential risks to the company associated with its use of concealment…
-
Alphabet files requests to exclude shareholder proposals
One proposal at issue deals with board diversity Google parent company Alphabet is seeking the SEC’s go-ahead to exclude several shareholder proposals from its 2022 proxy statement, including one on the high-profile topic of board diversity. The company filed nine such requests on February 1. One of the proposals, filed by Arjuna Capital, requests that ‘Alphabet report annually on its policies and practices to help ensure its elected board of directors attains racial and gender representation that is better aligned with the demographics of its customers and/or regions in which it operates.’ Arjuna Capital writes that such a report could…
-
BRP Group looks in-house for new general counsel
Seth Cohen joined company in February 2020 Insurance distribution company BRP Group has promoted Seth Cohen to become general counsel and corporate secretary. He reports to CEO Trevor Baldwin and now leads BRP Group’s legal, compliance and regulatory function. Seth Cohen, BRP Group Cohen joined the Nasdaq-listed company in February 2020 and has since held a number of positions, most recently deputy general counsel and chief information security officer. He joined BRP Group from Savills North America, where he was senior vice president for legal strategic initiatives. Before that, he held a variety of leadership positions within the legal department…
-
Datto names new general counsel
Emily Tabak Epstein worked on Coupang’s 2021 IPO Norwalk, Connecticut-based technology company Datto Holding Corp has hired Emily Tabak Epstein as its new general counsel. She reports to CEO Tim Weller and leads all legal and compliance strategies globally in addition to being a strategic adviser to Datto’s executives and board of directors. She succeeds Michael Fass, who is retiring after being general counsel since 2013. Epstein was most recently deputy general counsel and corporate secretary at South Korean e-commerce company Coupang. In that role she led the global legal team on Coupang’s $4.6 bn IPO on the NYSE, one…
-
Edgewell hires chief legal officer
LaTanya Langley joining from BIC Corp where she has been general counsel NYSE-listed Edgewell Personal Care Company has appointed LaTanya Langley as its chief legal officer, effective February 28. She will be based in the company’s Shelton, Connecticut office and will report to president and CEO Rod Little. Langley is joining Edgewell having spent more than six years at BIC Corp, most recently as vice president, general counsel and corporate secretary. In that role, she has led a team with global responsibility for legal strategy and execution, in addition to matters such as compliance, corporate governance, complex litigation management, human…
-
The week in GRC: US and European activist investors eye UK companies and Kohl’s adopts poison pill
This week’s governance, compliance and risk-management stories from around the web – Reuters reported that Shell began trading with a single line of shares after the UK oil company confirmed the assimilation of its A and B shares as part of plans to simplify its two-tier structure. The group, which dropped ‘Royal Dutch’ from its name last month after moving its headquarters to the UK from the Netherlands, said its shares would start their dealings on Euronext Amsterdam, the London Stock Exchange and the NYSE. Shell, which held its first board meeting in London on December 31, introduced the two-class…
-
Faire recruits first general counsel
Lauren Thomas was previously general counsel at payments service provider Dutchie Online wholesale marketplace Faire has hired Lauren Thomas as its first general counsel. The company in November announced that its latest round of funding valued it at $12.4 bn and brought its total funding to date to more than $1 bn. Thomas most recently was general counsel at Dutchie, one of the first national payments service providers for the cannabis industry. She helped the technology company operate in a complex regulatory and legal environment. Lauren Thomas, Faire Before her time with Dutchie, she was the first general counsel and…
-
CEOs name cyber-risk as top threat in 2022, survey finds
Cyber-attacks surge over last two years CEOs view cyber-attacks as the biggest threat to companies over the next 12 months, according to new research from PwC. In the firm’s annual CEO survey, cyber-risk comes out as the top concern (selected by 49 percent of respondents), followed by health risks (48 percent) and macroeconomic volatility (43 percent), including topics such as inflation and GDP changes. Financial services CEOs are the most worried about cyber-incidents affecting their business, while industrial manufacturing and automotive CEOs are the least concerned, despite many attacks targeting this sector, PwC notes. Cyber-attacks have surged over the last…