Archive
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Female general counsel lead men on pay, research finds
Median total compensation among all general counsel in sample rose just 1.7 percent from 2021 to 2022 Amanda Rome, executive vice president, chief legal officer (CLO) and chief compliance officer (CCO) at Nasdaq-listed Xcel Energy, has been appointed executive vice president, group president of utilities and chief customer officer at the company. Xcel Energy’s four operating company presidents and customer organization leaders now report to Rome in her new position. According to the company, Rome has filled the position vacated by Brett Carter, who is leaving Xcel Energy ‘to pursue other opportunities’. The company says Carter will remain available for…
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Corporate transactions and the board: Governance across M&A now available
Corporate Secretary’s ‘Corporate transactions and the board: Governance across M&A’ report presents the findings from exclusive research that provide important insights into, among other things, which elements of the board oversee M&A strategy, discussions with investors, boards’ thinking on risk, the time devoted to due diligence, ESG considerations in target selection and the briefings boards receive. The findings in this report are based on an online survey conducted among governance professionals such as general counsel, corporate secretaries and their teams between December 2022 and March 2023. Click to read Corporate transactions and the board: Governance across M&A >> Key findings…
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The week in GRC: DoJ offers incentives to report wrongdoing found during M&A and US Supreme Court hears CFPB case
This week’s governance, compliance and risk-management stories from around the web – The Financial Times (paywall) reported that GAM’s new board appointed Elmar Zumbuehl as CEO of the Swiss asset management firm after the previous board stepped down following the blocking by activist investors of a takeover bid by Liontrust. Zumbuehl has been the firm’s chief risk officer since 2017. The new board, which was voted in by shareholders, includes Antoine Spillmann, CEO of Bruellan, part of the activist investor group, as chair. Other appointments include Fabien Pictet, founder of Fabien Pictet & Partners, and Carlos Esteve, founder of Banque…
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ESG increasingly factored into investment decisions, asset owners say
Regulatory ‘confusion’ cited as significant challenge More than two thirds of asset owners say ESG issues have become increasingly material to their investment decisions over the past five years, according to new research. Just 15 percent say ESG has become less so. Breaking down the E, S and G, environmental factors lead on materiality: more than half (52 percent) of asset owners say environmental factors have become more or much more material over the last five years. This is followed by 43 percent for governance factors and 38 percent for social. Asset owners remain ‘highly committed to addressing an increasingly…
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Governance Matters podcast: Research shows AI can help law students. What does that mean for in-house counsel?
In this episode we also hear from director Margaret Preston about some of the challenges facing boards in 2024 Artificial intelligence (AI) is set to have far-reaching implications for in-house and private practice lawyers but, with use still limited, it’s helpful to look for clues and evidence that point to what those effects might be. In the latest episode of Corporate Secretary’s Governance Matters podcast, we do just that. Daniel Schwarcz of the University of Minnesota Law School tells editor-at-large Ben Maiden about new research he and his colleague Jonathan Choi conducted into law students’ use of AI for legal…
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Bally’s recruits compliance leader
Casino company also hires first vice president of global responsibility and social impact NYSE-listed casino company Bally’s Corporation has announced the appointment of Don Westcott as senior vice president and global chief compliance officer. Westcott most recently was global head of compliance for international payment service provider Nuvei. According to his LinkedIn profile, his previous experiences include being vice president for enterprise risk, compliance and controls in electronic payments at Fiserv and director of regulatory compliance with First Data Corporation. Before that, his roles included being regional compliance operations leader with Caesars Entertainment Corporation and director of regulatory compliance and…
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Investor group targets 100 companies over nature loss
Next year will see launch of benchmark showing corporate progress American International Group (AIG) has picked Patricia Walsh to become executive vice president and general counsel, effective December 1. In her new role, Walsh will be responsible for AIG’s legal, compliance and regulatory functions, and will also lead government affairs for the company. She succeeds Lucy Fato, who was executive vice president, general counsel and global head of communications and government affairs until moving into the newly created position of vice chair, effective October 1. Rose Marie Glazer, executive vice president and chief human resources and diversity officer, will continue…
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The week in GRC: NACD issues recommendations on improving board culture and DWS settles SEC greenwashing claims
This week’s governance, compliance and risk-management stories from around the web – According to The Wall Street Journal (paywall), many companies are reinforcing their commitment to diversity, equity and inclusion (DE&I) practices, describing them as key to their businesses despite high-profile lawsuits from conservative groups and scrutiny of DE&I policies following the US Supreme Court’s decision to stop affirmative action in college admissions. Many marketers see their DE&I practices as essential for selling their products and services to consumers from a wide variety of backgrounds and perspectives. Brands for years have considered race-based data – such as the ethnic makeup…
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SEC advises companies on impact of government shutdown
Companies seeking accelerated offerings or registration may want to file today The SEC’s division of corporation finance has released guidance on how a potential US government shutdown will affect its work and companies, particularly those seeking registration, offering or Rule 14a-8 approvals or other responses. A shutdown, while not certain, is considered likely to begin on Sunday. Should a shutdown take place, the division’s activities will be ‘extremely limited’, officials write in a notice. One of the key impacts will be on companies seeking accelerated green lights for registrations or offerings. The SEC’s Edgar system will continue to accept registration…
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Most companies lagging in ESG data-assurance readiness, KPMG finds
Large caps more confident of having ESG disclosures independently assessed than small firms, study finds Only 25 percent of companies feel ready to have their ESG data externally audited, according to new research from the KPMG ESG Assurance Maturity Index 2023. The research finds that only a limited number of companies think they have the right ESG policies, skills, systems and strategy in place as new voluntary frameworks loom ahead of the 2024 reporting cycle. The International Sustainability Standards Board disclosure requirements, the European Sustainability Reporting Standards implemented by the Corporate Sustainability Reporting Directive and the SEC’s climate-related disclosure rule…
