Archive
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SEC’s Lee looks to boards’ role in ESG
Commissioner eyes diversity and expertise to make the most of opportunities Boards are central to companies addressing ESG issues and should look to enhanced diversity and expertise to fulfill this role in a positive way, according to SEC member Allison Herren Lee. ‘The world’s largest asset managers and other institutional investors have been direct and vocal in conveying that they consider ESG material to their decision-making,’ Lee said in a speech earlier this week to the Society for Corporate Governance. ‘No matter the view of regulatory involvement in climate and ESG disclosures, directors must reckon with this growing consensus and…
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The Long-Term Stock Exchange gains first listing commitments
Asana and Twilio will become first companies to list on LTSE The Long-Term Stock Exchange (LTSE) has gained its first listing commitments from Asana and Twilio. Both companies are expected to list on LTSE on August 26, 2021 via dual public listing of their common stock. The LTSE launched in September 2020 after gaining approval from the SEC in May 2019. The exchange’s principles-based listing standards prioritize long-term actions and promote transparency by requiring listed companies to detail and publish policies that offer stakeholders insight into how a company builds its business for the long term. ‘Both Asana and Twilio…
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Ennis hires first general counsel
Dan Gus was previously president of his own law firm Midlothian, Texas-based Ennis has hired Dan Gus as the company’s first general counsel and assistant secretary, effective June 21. Gus joins Ennis from Gus & Gilbert Law Firm, which he founded and was president of. He previously worked at what is now law firm Locke Lord, was legal counsel and controller at hedge fund firm Q Investments and was a partner at Walker & Sewell. Ennis describes itself as one of the largest private-label printed business product suppliers in the US, which manufactures business forms, printed and electronic media, integrated…
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CalPERS appoints first DEI chief
Marlene Timberlake D’Adamo has been CCO since 2016 CalPERS has appointed Marlene Timberlake D’Adamo as its first chief diversity, equity and inclusion officer (CDEIO). She had previously been holding dual roles as chief compliance officer (CCO) and interim CDEIO since June 2020. Under the direction of CEO Marcie Frost, Timberlake D’Adamo ‘willwork across the enterprise and the investment office to foster a culture of equality, respect and inclusiveness,’ CalPERS says in a statement. She will also work with the ESG investment team to help identify and analyze emerging diversity, equity and inclusion (DEI) issues and opportunities for the CalPERS portfolio.…
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Entity Management report – available now
Corporate Secretary’s Entity Management report presents data based on a survey conducted among in-house entity management professionals – such as general counsel and corporate secretaries – to give important insights into this key function and how teams are adapting to changing conditions. Findings in this report are based on data from the Corporate Secretary survey conducted between March and May 2021. Click here to download the report >> Key findings Legal teams are most likely to have responsibility for entity management, followed by the corporate secretary’s office, with the general counsel’s office and compliance some way behind. Larger companies are…
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The week in GRC: JPMorgan Chase urges staff to get vaccine and court allows challenge to California board law
This week’s governance, compliance and risk-management stories from around the web – The Wall Street Journal noted that the SEC is planning to require public companies to disclose more information about how they respond to threats linked to climate change, and that companies are preparing for a fight. SEC chair Gary Gensler has said climate-related disclosure is a top priority. The SEC has already sought industry input, much of which arrived last week, for a rule proposal that could be issued by October. Technology companies such as Apple and Microsoft, which have long proclaimed their efforts to reduce their impact…
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Professionals see evolving ESG links to executive compensation
Boards and investors may not always see eye to eye on metrics and weights Amid growing investor pressure for companies to link executive compensation – at least to some degree – to ESG factors, there remains widespread uncertainty about how boards should approach the issue. But the outline of best practice is beginning to emerge, according to professionals. The connections between ESG and compensation ‘are evolving in real time,’ Wendy Cassity, executive vice president and chief legal officer with Nuance Communications, told the audience during a panel at the Corporate Secretary Forum – Governance Priorities in 2021. Fellow panelist Jonas…
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Inside Coinbase’s ‘egalitarian’ approach to investors
Through video profiles, a Reddit AMA and the use of new technology on its earnings call, Coinbase is placing retail investors on the same footing as institutional investors As Coinbase prepared for its direct listing earlier this year, it was clear that the company was approaching the process a little differently: from hosting a Reddit AMA – where it invited questions from retail investors on the often-feared social media site – to listing Satoshi Nakamoto – the pseudonym for the anonymous mastermind of Bitcoin – on the front page of its filing with the SEC ahead of the listing. ‘We…
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Investors target 1,320 companies over disclosure of environmental risks
Campaign encourages companies to disclose using CDP platform More than 1,000 companies need to boost their reporting of environmental risks, according to a campaign backed by major institutional investors. The project, which pushes companies to report environmental data through CDP’s disclosure system, says 1,320 businesses were targeted this year. In total, 168 investors and financial institutions took part in CDP’s non-disclosure campaign, a rise of 56 percent compared with last year. Participants include Amundi, Aviva, HSBC Global Asset Management, M&G Investments and Schroders. CDP, formerly known as the Carbon Disclosure Project, runs a disclosure platform where companies can report on…
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Inogen hires general counsel and secretary
Jason Somer to join company from Invoca Medical technology company Inogen has recruited Jason Somer as executive vice president,general counsel and secretary, effective July 12. Somer will join Inogen from Invoca, where he has been head legal counsel. Before his time at Invoca, he was associate general counsel at Sunniva and general counsel and corporate secretary for Innova Gaming Group. Before joining Innova, Somer was senior vice president of business development and general counsel at solar energy development company Sunora Energy Solutions. Earlier in his career he was vice president of special projects and the senior global counsel at Shanghai-based…