Archive
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The week in GRC: IOSCO wants better oversight of ESG ratings and judge unlikely to block board diversity law
This week’s governance, compliance and risk-management stories from around the web Molson Coors has recruited Anne-Marie D’Angelo as its next chief legal and government affairs officer, effective December 13. D’Angelo has since January been executive vice president, general counsel and corporate secretary at NiSource, having joined the utility in 2019. She will be based in Chicago and will be responsible for all legal matters, including corporate governance, securities law and regulatory compliance, as well as the company’s government affairs. D’Angelo will fill the position vacated by Lee Reichert, who retired from Molson Coors in September and is now deputy attorney…
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PayPal legal chief to step down
Louise Pentland has been with the company since 2015 PayPal executive vice president and chief business affairs and legal officer Louise Pentland is to step down from her role, effective December 31. In an SEC filing, the company states that it and Pentland entered into an agreement on November 10 that includes an intended separation date of July 31, 2022. Pentland joined PayPal as chief legal officer (CLO) in 2015, the year it became an independent company, having previously spent more than 16 years at Nokia where her final role was executive vice president and CLO. In a LinkedIn post…
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Research finds investor skepticism around companies’ ESG plans
Almost three quarters don’t believe companies will achieve their ESG or DE&I commitments Kimball Electronics has named Douglas Hass as its next general counsel, chief compliance officer (CCO) and corporate secretary. He will succeed Kimball Electronics veteran John Kahle, who is retiring on December 31. Hass is at present associate general counsel and assistant secretary, having joined the Jasper, Indiana-based company in 2020. His career includes more than 25 years of legal, management and operations experience focused on technology-intensive telecommunication companies and electronics manufacturers. Before joining Kimball Electronics, he was general counsel and secretary of Nasdaq-listed dairy company Lifeway Foods.…
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Kimball Electronics names successor to general counsel
Douglas Hass is currently associate general counsel and assistant secretary with the company Eighty-six percent of US investors believe companies ‘frequently overstate or exaggerate their ESG progress when disclosing results,’ according to Edelman’s latest Trust Barometer report. But it’s not just US investors who are skeptical when it comes to ESG credentials: globally, almost three quarters (72 percent) of investors say they don’t believe companies will achieve their ESG or diversity, equity and inclusion (DE&I) commitments. German investors are overall the most distrusting of ESG statements put out by companies, at 87 percent, though those in the US are a…
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The week in GRC: SEC issues 2021 enforcement report and banks asked to report environmental crimes
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal reported that Royal Dutch Shell plans to consolidate its dual UK and Dutch structure and relocate its headquarters to London, which it said would help facilitate returns to shareholders and make it simpler to overhaul its portfolio of assets. The company said bringing an end to its complex structure should also make it easier for investors to value the firm at a time when it has committed to transitioning to low-carbon energy. Under its plan, the company’s headquarters will be in the UK rather…
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MSG Entertainment hires general counsel
Jamal Haughton was previously general counsel at Samsung Electronics America Madison Square Garden (MSG) Entertainment Corp has recruited Jamal Haughton as executive vice president and general counsel, effective December 6. Haughton is joining MSG Entertainment having most recently been senior vice president and general counsel at Samsung Electronics America. Before joining Samsung in 2016, Haughton spent 10 years at Cablevision Systems Corporation in roles of increasing responsibility and finally as senior vice president, associate general counsel and assistant secretary. In that role he advised the board and senior executive management on corporate governance, public company reporting, corporate finance and strategic…
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Companies advised to be alert to racial equity audit proposals
Audience at recent Corporate Secretary Forum also hears about activists targeting directors on ESG issues Governance teams and boards have been warned to stay alert to the prospect of facing shareholder proposals in 2022 urging them to commission racial equity audits. Speaking at the recent Corporate Secretary Forum, Rose Marie Glazer, senior vice president, corporate secretary and deputy general counsel at AIG, described the proposals as ‘an interesting manifestation of the focus on social issues that is coming [from] activist shareholders.’ SOC Investment Group (previously known as CtW Investment Group), working alongside the Service Employees International Union, has over the…
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Cedar Fair hires former WWE general counsel
Brian Nurse previously worked at Nestlé Waters North America NYSE-listed Cedar Fair Entertainment Company has hired Brian Nurse as executive vice president, chief legal officer and secretary. He reports to president and CEO Richard Zimmerman and is based at the company’s office in Charlotte, North Carolina. Nurse was previously senior vice president, general counsel and secretary for WWE for two years. Before that, he worked for six years as vice president, associate general counsel and secretary at Nestlé Waters North America, leading the day-to-day legal affairs for the Nestlé division. Between 2003 and 2012, Nurse was senior legal counsel for…
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Lyft finds new general counsel in-house
Lindsay Llewellyn was previously vice president and associate general counsel Lyft has appointed Lindsay Llewellyn as the company’s new general counsel and secretary, effective November 1. According to an SEC filing, Llewellyn was previously vice president and associate general counsel with the transport company. Her LinkedIn profile states that she has been with the company since 2104, when she joined as managing counsel for litigation. She had been vice president and associate general counsel since April 2017. Before moving in-house, Llewellyn was an attorney with Winston & Strawn. She succeeds Kristin Sverchek as general counsel and secretary. Sverchek has been…
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Board evaluation increasingly a ‘real time’ process, EY says
Refreshment, diversity and education are top issues for investors Almost a quarter (23 percent) of Fortune 100 firms say board evaluation is now an ongoing process and something that happens beyond the formal annual evaluation, according to EY. This is an increase from just 9 percent in 2018, EY notes, adding that this ‘real-time evaluation’ allows companies to be ‘timely and agile’ to address issues more quickly and avoid a deepening of problems, as well as allowing ‘continuous improvement.’ In addition to increasingly evaluating board performance outside of a formal once-a-year process, EY says companies are more likely to talk…