Archive
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Costco shareholders back net-zero proposal including Scope 3 emissions
Measure seeks targets for emissions from retailer’s full value chain Shareholders in Costco Wholesale Corporation have voted – against the board’s wishes – in favor of a proposal urging the retail company to set targets for reaching net-zero greenhouse gas (GHG) emissions. Just under 70 percent of the votes cast at Issaquah, Washington-based Costco’s January 20 AGM backed the proposal brought by Green Century Capital Management requesting that ‘Costco adopt short, medium and long-term science-based [GHG] reduction targets, inclusive of emissions from its full value chain, in order to achieve net-zero emissions by 2050 or sooner and to effectuate appropriate…
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Nike appoints successor to general counsel
Ann Miller has been with the sportswear company since 2007 Beaverton, Oregon-based Nike is promoting Ann Miller to become executive vice president and general counsel, effective February 17. Miller will succeed Hilary Krane, executive vice president, chief administrative officer and general counsel, who is retiring in February having spent 12 years with the company. Miller joined Nike in 2007 and has since held several senior roles. For the past six years she has been vice president, corporate secretary and chief ethics and compliance officer. In that role, she oversees all corporate governance and external reporting matters for the company and…
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General Mills general counsel to retire
Richard Allendorf joined the food company in 1998 General Mills veteran Richard Allendorf will retire as the company’s senior vice president, general counsel and secretary in August this year. He joined Minneapolis-based General Mills in 1998. Allendorf began his career at General Mills supporting the company’s US retail business and consumer food sales. In 2012 he was appointed vice president and deputy general counsel for international matters with responsibility for developing legal strategies and managing legal matters for General Mills’ international business. Richard Allendorf, General Mills In his current role, he oversees the General Mills law department, external and government…
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The week in GRC: SEC reopens comment process on executive pay rules and ESG experts join Prada board
This week’s governance, compliance and risk-management stories from around the web – CNN reported that activist investor Blackwells Capital in an open letter said it had ‘grave concerns’ about Peloton’s performance and called on its board to fire CEO John Foley and explore a sale. The investment firm criticized Peloton for not capitalizing on the success it achieved in 2020, saying it squandered the opportunity to grow sales of its internet-connected bikes and treadmills. Blackwells’ chief investment officer Jason Aintabi said Peloton is on ‘worse footing today than it was prior to the pandemic, with high fixed costs, excessive inventory,…
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Immunovant hires legal chief
Mark Levine was most recently general counsel and corporate secretary of Flexion Therapeutics Nasdaq-listed Immunovant has appointed Mark Levine as chief legal officer (CLO). Levine was most recently general counsel and corporate secretary of Flexion Therapeutics, a commercial-stage biopharmaceutical company, where he was responsible for overseeing legal and compliance affairs related to Flexion’s 2017 launch of ZILRETTA in the US and building its pipeline. Flexion was ultimately acquired by Pacira BioSciences in late 2021. Mark Levine Levine was previously general counsel and corporate secretary at Minerva Neurosciences and associate general counsel at Clinical Data. His legal experience includes advising on…
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Disney shareholders to vote on pay equity report proposal
Proponent seeks disclosure on both median and adjusted pay gaps Investors and analysts have named inflation concerns as the number one topic they want to hear executives discuss on earnings calls this quarter, according to new research. A poll of investment professionals, conducted by advisory firm Corbin Advisors, finds 93 percent of respondents want companies to tackle the impact of inflation, followed by supply-chain disruption (51 percent) and labor availability (37 percent). The survey gathered responses from 75 individuals, with 75 percent hailing from the buy side and 25 percent from the sell side. Answers were collected between November 30,…
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Investors and analysts urge companies to explain inflation impact
Research shows market participants most concerned by inflation, labor issues and supply-chain disruption Investors in The Walt Disney Company will vote on shareholder proposals at its March 9 AGM, including one seeking disclosure around pay equity. It is an issue that has attracted greater attention in recent years partly as a result of the inequitable impact of the Covid-19 pandemic on communities of color and the 2020 protests against racial injustice. Arjuna Capital, which has sponsored numerous proposals on gender and racial pay gap disclosure in previous years, has filed a measure requesting that Disney ‘report on both median and…
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ZoomInfo hires its first CCO
Simon McDougall is a former privacy regulator Vancouver, Washington-based ZoomInfo has hired former regulator Simon McDougall as its first chief compliance officer (CCO). McDougall most recently was deputy commissioner for the Information Commissioner’s Office (ICO), the UK’s independent authority charged with upholding information rights and promoting openness by public bodies and data privacy for individuals. During his time with the ICO, McDougall established new technology policy and innovation functions, directed work in areas such as artificial intelligence, adtech and competition, and led the firm’s response to data usage in the UK to address the Covid-19 pandemic. Before working with the…
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Armstrong World Industries finds successor general counsel
Austin So most recently chief legal officer and secretary for StoneMor NYSE-listed Armstrong World Industries (AWI) has hired Austin So as senior vice president, general counsel and corporate secretary, effective February 1. In addition to leading the Lancaster, Pennsylvania-based company’s legal organization, So will oversee AWI’s sustainability and compliance programs. He succeeds Mark Hershey, who took on the position of senior vice president for the Americas at the beginning of 2022. Hershey joined the company in 2011 as general counsel and secretary and subsequently served as chief compliance officer and leader of the company’s sustainability efforts. So was most recently…
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The week in GRC: Netflix to drop supermajority requirement for board changes and competition for compliance officers heats up
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that ExxonMobil said it has set a goal to reduce or offset greenhouse gas emissions from its operations to zero by 2050, amid growing pressure from investors and the public for oil companies to tackle climate change. ExxonMobil said it had developed detailed emission-reduction plans for major facilities and assets, and can profitably transition to greener energy sources. Engine No 1 last year elected three new members to the company’s board after criticizing its transition strategy. The new goal doesn’t cover emissions from…