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NEW YORK (Reuters) - When Brian Moynihan took the reins at Bank of America Corp in 2010, the U.S. bank was reeling. Since then, Moynihan, 61, has not just righted the ship, but transformed Bank of America, leaving analysts, industry people and some investors wondering what - and who - comes next. That leaves Moynihan with a new challenge over the next few years: determining who would best replace him, and marketing that person to the world without alienating other senior executives. Yet it leaves Moynihan as the longest-tenured CEO on Wall Street who has not offered a crisp idea of who is next, analysts said. “Now that he has four or five years of runway left, investors should be rightfully saying, ‘Hmmm,’” said one former bank employee.
Persons: Brian Moynihan, Shannon Stapleton, Moynihan, , , Sydney Finkelstein, Ken Lewis, Finkelstein, “ You’re, ” Moynihan, Piper Sandler, Jeffery Harte, , ’ ”, Raul Anaya, Dean Athanasia, Cathy Bessant, Steve Boland, Alastair Borthwick, Jim DeMare, Andy Seig, PNC’s Mike Lyons, Mark Chancy, Moynihan’s, Tom Montag, Montag, Warren Buffett, ” Buffett Organizations: YORK, Bank of America Corp, Bloomberg Global Business, REUTERS, of America, Bank of America’s, Dartmouth’s Tuck School of Business, Bank of America, Wall, Bank of, Justice Department Locations: U.S, New York City , New York, Bank
The big mutual fund firms, whose stock holdings amount to trillions of dollars, used to be loyal members of the corporate establishment. The mutual fund firms are increasingly relying on ESG-focused funds they manage for a part of their fee revenue. BlackRock has made public its voting decisions on more than 80 companies since 2020, and frequently criticizes corporate governance lapses under Boss. Detailed filings showing how specific fund firms voted in annual shareholder meetings of companies will not be available until August. Top fund firms, he said, “have to evolve with their client base.”
Persons: George Floyd, , Andrew Collins, Sandy Boss, Boss, ” John Galloway, ESG laggards, Galloway, Jessica Ground, Schroders, Caitlin McSherry, Neuberger Berman, James McRitchie, Larry Culp, Tim Smith, Paul Moroz, Organizations: Corporate America, Solutions, Investors, BlackRock Inc, State Street Corp, Vanguard Group, Exxon Mobil Corp, San Francisco Employees, BlackRock, Bank of England, White House, Vanguard, American Funds, Group, Capital, State, Union Pacific Corp, Union Pacific, General Electric Co, GE, Trust Walden, Mawer Investment Management Locations: Minneapolis, BlackRock
The big mutual fund firms, whose stock holdings amount to trillions of dollars, used to be loyal members of the corporate establishment. A record 14 S&P 500 companies had more than 50% of investors reject their executive pay packages as of June 1, according to corporate governance consultant ISS Corporate Solutions. read moreThe mutual fund firms are increasingly relying on ESG-focused funds they manage for a part of their fee revenue. read moreDetailed filings showing how specific fund firms voted in annual shareholder meetings of companies will not be available until August. Top fund firms, he said, "have to evolve with their client base."
Persons: Carlo Allegri, George Floyd, Andrew Collins, Sandy Boss, BlackRock, Boss, John Galloway, ESG laggards, Galloway, Jessica Ground, Schroders, Capital, Caitlin McSherry, Neuberger Berman, James McRitchie, Larry Culp, Tim Smith, Paul Moroz Organizations: BlackRock, REUTERS, Corporate America, Solutions, Investors, BlackRock Inc, State Street Corp, Vanguard Group, Exxon Mobil Corp, San Francisco Employees, Bank of England, White House, Vanguard, American Funds, Group, Capital, State, Union Pacific Corp, Union Pacific, General Electric Co, GE, Trust Walden, Mawer Investment Management, Thomson Locations: Manhattan, New York City , New York, U.S, Minneapolis, BlackRock
The big mutual fund firms, whose stock holdings amount to trillions of dollars, used to be loyal members of the corporate establishment. A record 14 S&P 500 companies had more than 50% of investors reject their executive pay packages as of June 1, according to corporate governance consultant ISS Corporate Solutions. The mutual fund firms are increasingly relying on ESG-focused funds they manage for a part of their fee revenue. Detailed filings showing how specific fund firms voted in annual shareholder meetings of companies will not be available until August. Top fund firms, he said, “have to evolve with their client base.”Our Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, George Floyd, Andrew Collins, Sandy Boss, Boss, John Galloway, ESG laggards, Galloway, Jessica Ground, Schroders, Capital, Caitlin McSherry, Neuberger Berman, James McRitchie, Larry Culp, Tim Smith, Paul Moroz, , Organizations: BlackRock, REUTERS, Corporate America, Solutions, Investors, BlackRock Inc, State Street Corp, Vanguard Group, Exxon Mobil Corp, San Francisco Employees, Bank of England, White House, Vanguard, American Funds, Group, Capital, State, Union Pacific Corp, Union Pacific, General Electric Co, GE, Trust Walden, Mawer Investment Management, Thomson Locations: Manhattan, New York City , New York, U.S, Minneapolis, BlackRock
Local resident Michael Wilson raises his fist in front of an image of George Floyd after the verdict in the trial of former Minneapolis police officer Derek Chauvin, found guilty of the death of George Floyd, at George Floyd Square in Minneapolis, Minnesota, U.S., April 20, 2021. In the same period a year earlier, S&P 500 companies appointed just 55 Black board members out of 485 total new directors, according to the analysis, or about 11%. "The needle has clearly moved," said Marija Kramer, head of ISS Corporate Solutions, in a statement. ISS Corporate Solutions found that roughly half of the new directors who are Black were joining public company boards for the first time. Previously, about a third of Black directors were new to public board service.
Persons: Michael Wilson, George Floyd, Derek Chauvin, Adrees Latif, Marija Kramer Organizations: George, REUTERS, ISS Corporate Solutions, Corporate, Corporate Solutions, ISS Corporate, Solutions, Companies, Stock, Nasdaq Inc, Thomson Locations: Minneapolis, Minneapolis , Minnesota, U.S, Corporate America, California, Illinois
A resolution from shareholders including nonprofit Oxfam America calls for Amazon to consider nominating an hourly employee to its board. Amazon’s board has recommended that shareholders reject the proposal, and very few U.S. companies give workers a board seat. During the labor organizing campaign, some staff had aired grievances including fatigue from warehouse work and mandatory anti-union meetings. Various countries including Germany have requirements for worker representation in boardrooms, but only a few U.S. companies have such representation including top airlines Delta Air Lines Inc and United Airlines Holdings Inc. The second-largest proxy adviser, Glass Lewis, has recommended investors oppose the director-candidate resolution, worried it could threaten the board’s independence and shareholder value.
Persons: Jeff Bezos, , Jennifer Bates, Bates, ” Bates, Glass Lewis, Courteney Keatinge, Ross Kerber, Jeffrey Dastin, Jessica DiNapoli, David Gregorio Organizations: Amazon.com Inc, Oxfam America, Amazon, Services, Oxfam, Reuters, Delta Air Lines Inc, United Airlines Holdings Inc, Starbucks Corp, Woodward Inc, ISS, BlackRock Inc Locations: Bessemer, Alabama, United States, Germany, Washington, Boston, San Francisco
Joshua Harris, Co-Founder and a member of the Board of Directors at Apollo Global Management, LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy NicholsonApollo Global Management Inc (APO.N) said on Thursday co-founder Joshua Harris has decided to step down from his day-to-day role, the latest in a series of governance changes at the private equity firm. Apollo said Harris will leave his role when the $11 billion all-stock merger with annuities provider Athene Holding Ltd (ATH.N) closes in the first quarter of next year. Harris, 56, will retain his seat on Apollo's board and executive committee, the firm said. In elevating Rowan to become CEO, Apollo passed over Harris, who had been widely expected to take over the top job from Black.
Persons: Joshua Harris ,, Lucy Nicholson Apollo, Joshua Harris, Apollo, Harris, Leon Black, Jeffrey Epstein, Black, Marc Rowan, Jay Clayton, Rowan, Margaret Brown, Brown, David Blitzer, Apollo's Organizations: Apollo Global Management, Milken Institute Global Conference, REUTERS, Lucy Nicholson Apollo Global Management Inc, Athene Holding, Apollo, U.S . Securities, Exchange Commission, California Public Employees, Citi, Blackstone Group Inc, National Hockey League's New Jersey Devils, National Basketball Association's Philadelphia 76ers, Thomson Locations: Beverly Hills , California, U.S
(Reuters) - Aerospace company Boeing Co was explicit, naming who among its dozen directors were women, Asian and African American. Some Republicans have called for regulators to reject a Nasdaq Inc proposal to ask for the number of directors by gender, race and ethnicity - without any names. State Representative Chris Welch, speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic. Among the S&P 500, 9% of directors were Black as of January, according to researcher Equilar, up from 8% in August.
Persons: Archer, Kunal Kapoor, Eileen T, Chris Welch, , Welch, Kapoor, Richard Benton, ” Phyllis Lockett, , Ekta Singh, Bushell, Equilar, Jacqueline Collins, ” Collins, Wendy Cromwell, Joe Shoen, ” Shoen Organizations: Reuters, Aerospace, Boeing Co, American, Agricultural, Midland Co, Morningstar, REUTERS, Boeing . Companies, Republicans, Nasdaq Inc, State, Illinois, Representatives, Indian, Companies, ADM, University of Illinois, U.S . Cellular Corp, Inc, Huron Consulting Group, Pacific, Russell, Stock, Wellington Management, Nasdaq Locations: Chicago , Illinois, U.S, Illinois, Chicago, Indian American, American, African American, Boston
Aerospace company Boeing Co (BA.N) was explicit, naming who among its dozen directors were women, Asian and African American. Some Republicans have called for regulators to reject a Nasdaq Inc (NDAQ.O) proposal to ask for the number of directors by gender, race and ethnicity - without any names. read moreState Representative Chris Welch, speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. Corporate America's white-dominated leadership has been under a spotlight for supporting the Black Lives Matter movement while listing few leaders of color. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic.
Persons: Archer, Chris Welch, Welch, Kunal Kapoor, Kapoor, Richard Benton, ” Phyllis Lockett, , Ekta Singh, Bushell, Equilar, Jacqueline Collins, ” Collins, Wendy Cromwell, Joe Shoen, Shoen, ” Shoen Organizations: Aerospace, Boeing Co, American, Agricultural, Midland Co, Boeing . Companies, Republicans, Nasdaq Inc, Illinois, Representatives, Morningstar Inc, Indian, Companies, ADM, Reuters, University of Illinois, U.S . Cellular Corp, Inc, Huron Consulting Group, Pacific, Russell, Stock, Wellington Management, Nasdaq, Thomson Locations: Illinois, Chicago, Indian American, American, African American, Boston
REUTERS/Eileen T. MeslarAerospace company Boeing Co (BA.N) was explicit, naming who among its dozen directors were women, Asian and African American. Some Republicans have called for regulators to reject a Nasdaq Inc (NDAQ.O) proposal to ask for the number of directors by gender, race and ethnicity - without any names. read moreState Representative Chris Welch, speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic. Among the S&P 500, 9% of directors were Black as of January, according to researcher Equilar, up from 8% in August.
Persons: Kunal Kapoor, Eileen T, Archer, Chris Welch, Welch, Kapoor, Richard Benton, ” Phyllis Lockett, , Ekta Singh, Bushell, Equilar, Jacqueline Collins, ” Collins, Wendy Cromwell, Joe Shoen, Shoen, ” Shoen Organizations: Morningstar, REUTERS, Meslar Aerospace, Boeing Co, American, Agricultural, Midland Co, Boeing . Companies, Republicans, Nasdaq Inc, Illinois, Representatives, Morningstar Inc, Indian, Companies, ADM, Reuters, University of Illinois, U.S . Cellular Corp, Inc, Huron Consulting Group, Pacific, Russell, Stock, Wellington Management, Nasdaq, Thomson Locations: Chicago , Illinois, U.S, Illinois, Chicago, Indian American, American, African American, Boston
May 11 (Reuters) - Aerospace company Boeing Co was explicit, naming who among its dozen directors were women, Asian and African American. Some Republicans have called for regulators to reject a Nasdaq Inc proposal to ask for the number of directors by gender, race and ethnicity - without any names. State Representative Chris Welch, speaker of the Illinois House of Representatives, proposed what became the 2019 Illinois law on board diversity reporting. Corporate America’s white-dominated leadership has been under a spotlight for supporting the Black Lives Matter movement while listing few leaders of color. It has since added a director and says that half its 12-person board is now African American, Asian or Hispanic.
Persons: Archer, Chris Welch, , Welch, Kunal Kapoor, Kapoor, Richard Benton, ” Phyllis Lockett, , Ekta Singh, Bushell, Equilar, Jacqueline Collins, ” Collins, Wendy Cromwell, Joe Shoen, ” Shoen Organizations: Aerospace, Boeing Co, American, Agricultural, Midland Co, Boeing . Companies, Republicans, Nasdaq Inc, State, Illinois, Representatives, Morningstar, Indian, Companies, ADM, Reuters, University of Illinois, U.S . Cellular Corp, Inc, Huron Consulting Group, Pacific, Russell, Stock, Wellington Management, Nasdaq Locations: Illinois, Chicago, Indian American, American, African American, Boston
More companies are facing shareholder backlash against their CEO pay this year than last, Reuters has reported. "We can't rely on corporate boards to fix the problem of excessive CEO compensation," Sarah Anderson, a co-author of the report, said in an interview. Anderson suggested in the report that companies with the highest CEO-to-average worker pay ratios should be taxed more. The CEO-to-average worker pay ratio for the 51 companies in the report was 830-to-1. He also received a one-time stock award of $882,127, for a total 2020 compensation of $14.6 million, according to the filing.
Persons: Arnold Donald, Sarah Anderson, Anderson, David Gibbs, Gibbs Organizations: KFC, REUTERS, Institute for Policy Studies, Cola, Carnival Corp, Yum Brands Inc, Reuters, Yum Brands, Thomson Locations: Colombo, Sri Lanka
General Electric shareholders reject CEO Larry Culp's pay
  + stars: | 2021-05-04 | by ( Jessica Dinapoli | Rajesh Kumar Singh | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019. REUTERS/Alwyn ScottNEW YORK (Reuters) - A majority of shareholders at the General Electric Co annual general meeting rejected the pay packages for named executive officers, including CEO Larry Culp, whose compensation for 2020 tallied $73.2 million. According to preliminary results, 57.7% of shareholders rejected General Electric’s pay packages, a strong rebuke to executives of the industrial company, which is in the middle of a challenging turnaround. “The board will take those views into the consideration as we evaluate executive compensation.”The shareholders’ vote is advisory, not binding. Later in the meeting, Culp said the company has no plans to increase the dividend at this time in response to shareholder questions.
Persons: Larry Culp mingles, Alwyn Scott NEW, Larry Culp, Electric’s, Culp Organizations: Electric Co, REUTERS, Alwyn Scott NEW YORK, General Electric Co Locations: Tarrytown , New York, U.S
General Electric shareholders reject CEO Culp's pay deal
  + stars: | 2021-05-04 | by ( Jessica Dinapoli | Rajesh Kumar Singh | ) www.reuters.com sentiment -1.00   time to read: +2 min
NEW YORK/CHICAGO (Reuters) -A majority of shareholders at General Electric Co’s annual meeting rejected the pay packages for named executive officers, including CEO Larry Culp, whose compensation for 2020 tallied $73.2 million. FILE PHOTO: General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019. “The board will take those views into consideration as we evaluate executive compensation.”The shareholders’ vote is advisory, not binding. Proxy advisors Institutional Shareholder Services Inc (ISS) and Glass Lewis recommended shareholders reject GE’s executive compensation package. In response to shareholder questions later in the meeting, Culp said the company has no plans to increase its dividend at this time.
Persons: Larry Culp, Larry Culp mingles, Alwyn Scott, Culp, Larry, Tom Horton, GE’s, Glass Lewis Organizations: General, Electric Co, REUTERS, GE, Services Inc, Union, Win Investment Locations: CHICAGO, Tarrytown , New York, U.S
REUTERS/Alwyn ScottWhile the shareholder vote was non-binding, the move was a rare rebuke of a major corporation’s handling of its executive pay. Some 57.7% of GE shareholders rejected the executive pay packages, according to preliminary results. GE said in a statement that it will gather feedback from investors and will evaluate its executive compensation program moving forward. Only one company, Qualcomm Inc, had its executive pay rejected by shareholders at this point in 2020, according to Farient. Losing the shareholder vote can put pressure on corporate boards and executives to negotiate new pay deals.
Persons: Larry Culp, Larry Culp mingles, Alwyn Scott, Glass Lewis, incentivize Culp, Culp, , Carl Kennebrew, Walt, Bob Iger, Ireland’s AerCap Organizations: General Electric, Electric Co, REUTERS, GE, Institutional, Services Inc, CWA, Communication Workers of, IUE, Business Machines Corp, Starbucks Corp, Walgreens, Alliance Inc, TransDigm, Qualcomm Inc, Walt Disney Co Locations: CHICAGO, Tarrytown , New York, U.S, Communication Workers of America, Boston, America
Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. Berkshire Hathaway is hardly alone. Other major companies, including Citigroup Inc (C.N) and Amazon.com Inc (AMZN.O), have resisted ESG shareholder proposals, calling them impractical or inferior to their own. Abel said at the shareholder meeting that all of Berkshire's coal-fired power plants would be shut by 2049 and that its utility businesses had already made a big transition to renewable energy. Shareholder proposals on environmental and social issues at S&P 1500 companies averaged 28% support in 2020, up from 20% in 2017, according to proxy solicitor Georgeson.
Persons: Warren Buffett, Rick Wilking, Warren Buffett’s, Buffett, Berkshire Hathaway, Ric Marshall, Berkshire Hathaway's, Meredith Benton, Benton, Hermes, Tim Youmans, Greg Abel, Abel, Youmans, Georgeson, Dupont, Heidi Welsh Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rick Wilking Berkshire Hathaway Inc, BlackRock Inc, Berkshire, California Public Employees, Federated Hermes Inc, Berkshire Hathaway's, Buffett, ESG Research, MSCI Inc, Citigroup Inc, Amazon.com Inc, BlackRock, United States, Sustainable Investments Institute, Thomson Locations: Omaha , Nebraska, Rick Wilking Berkshire, Berkshire, Pittsburgh, Paris, U.S
May 4 (Reuters) - Berkshire Hathaway Inc shareholders can accept Chairman Warren Buffett’s hostility to bitcoin, blank-check acquisition firms and wild bets on trading app Robinhood. As more Wall Street funds manage assets with a mandate to consider ESG causes, some corporate governance experts say pressure on Buffett will increase in the coming years. Berkshire Hathaway is hardly alone. Other major companies, including Citigroup Inc and Amazon.com Inc, have resisted ESG shareholder proposals, calling them impractical or inferior to their own. Abel said at the shareholder meeting that all of Berkshire’s coal-fired power plants would be shut by 2049 and that its utility businesses had already made a big transition to renewable energy.
Persons: Warren Buffett’s, Buffett, Berkshire Hathaway, , Ric Marshall, Berkshire Hathaway’s, Meredith Benton, ” “, ” Benton, Hermes, Tim Youmans, Greg Abel, Abel, Youmans, Georgeson, Dupont, Heidi Welsh, Ross Kerber, Jessica DiNapoli, Jon Stempel, Greg Roumeliotis, Leslie Adler Organizations: Berkshire Hathaway, BlackRock Inc, Berkshire, California Public, Federated Hermes Inc, Berkshire Hathaway’s, Buffett, ESG Research, MSCI Inc, Citigroup Inc, Amazon.com Inc, BlackRock, United States, Sustainable Investments Institute Locations: Berkshire, Pittsburgh, Omaha , Nebraska, Paris, U.S, Boston, New York
Some Blackstone portfolio companies have already been reporting on ESG matters, but this has not been standardized across the firm’s portfolio, said Christine Anderson, Blackstone head of external relations who also oversees the firm’s ESG efforts. Blackstone plans to take the reporting from its portfolio companies to develop standards and best practices across the firm, the spokeswoman said. Last week, Blackstone announced a slew of new hires in ESG who will help implement diversity and sustainability initiatives across its businesses. The firm does not yet ask portfolio companies to report sustainability data according to recommendations from the Task Force on Climate-related Financial Disclosure or the Sustainability Accounting Standards Board, a person familiar with the matter said. This is because the firm is still deliberating what sustainability reporting framework is the best one to use, the source added.
Persons: Brendan McDermid, Blackstone, , Christine Anderson Organizations: Reuters, Blackstone, Inc, Blackstone Group, New York Stock Exchange, REUTERS, ESG, Funds, Companies, Task Force Locations: U.S, York, ESG
The move to require regular ESG reporting in its private equity portfolio companies is significant for Blackstone because buying and running companies is the firm's largest business by total assets under management. Some Blackstone portfolio companies have already been reporting on ESG matters, but this has not been standardized across the firm's portfolio, said Christine Anderson, Blackstone head of external relations who also oversees the firm's ESG efforts. Blackstone plans to take the reporting from its portfolio companies to develop standards and best practices across the firm, the spokeswoman said. read moreThe firm does not yet ask portfolio companies to report sustainability data according to recommendations from the Task Force on Climate-related Financial Disclosure or the Sustainability Accounting Standards Board, a person familiar with the matter said. This is because the firm is still deliberating what sustainability reporting framework is the best one to use, the source added.
Persons: Blackstone, Christine Anderson Organizations: Blackstone Group Inc, Reuters, ESG, Blackstone, Funds, Companies, Task Force, Thomson Locations: U.S, York, ESG
Blackstone makes sustainability push with slew of new hires
  + stars: | 2021-04-27 | by ( Jessica Dinapoli | ) www.reuters.com + 0.93   time to read: +2 min
NEW YORK (Reuters) - Private equity firm Blackstone Group Inc told Reuters on Tuesday it has made five additions to its environmental, social and governance (ESG) team, as its steps up the implementation of sustainability and diversity initiatives across its businesses. FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. “We view ESG as central to our mission of delivering strong returns for clients,” said Blackstone president Jonathan Gray in a statement. Blackstone also appointed Caroline Hill and Nina James as heads of real estate ESG for Europe and Asia, respectively. Blackstone rolled out a program last year to cut carbon emissions by 15% across new investments where the firm controls the energy usage.
Persons: Brendan McDermid, , Jonathan Gray, Blackstone, Elizabeth Lewis, James Mandel, Caroline Hill, Nina James, James, Rita Mangalick Organizations: YORK, Blackstone Group Inc, Reuters, Blackstone Group, New York Stock Exchange, REUTERS, International Finance Corporation, Rocky Mountain Institute, Lloyds Banking Group, Investa Locations: Europe, Asia, New York
The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermidPrivate equity firm Blackstone Group Inc (BX.N) told Reuters on Tuesday it has made five additions to its environmental, social and governance (ESG) team, as its steps up the implementation of sustainability and diversity initiatives across its businesses. "We view ESG as central to our mission of delivering strong returns for clients," said Blackstone president Jonathan Gray in a statement. Blackstone said Elizabeth Lewis, who previously worked on climate and impact investing at the International Finance Corporation, will help implement ESG policies across Blackstone's businesses. Blackstone also appointed Caroline Hill and Nina James as heads of real estate ESG for Europe and Asia, respectively.
Persons: Brendan McDermid, Blackstone, Jonathan Gray, Elizabeth Lewis, James Mandel, Caroline Hill, Nina James, James, Rita Mangalick Organizations: Blackstone Group, New York Stock Exchange, REUTERS, Blackstone Group Inc, Reuters, International Finance Corporation, Rocky Mountain Institute, Lloyds Banking Group, Investa, Thomson Locations: Europe, Asia, New York
The company logo for Johnson & Johnson is displayed to celebrate the 75th anniversary of the company's listing at the New York Stock Exchange (NYSE) in New York, U.S., September 17, 2019. REUTERS/Brendan McDermidRoughly 57% of investor votes cast backed healthcare company Johnson & Johnson's (JNJ.N) executive pay for 2020, a low level of support for a proposal most shareholders usually rubberstamp. Johnson & Johnson had said it has always excluded certain one-time costs in its compensation for top brass. "This vote demonstrates the significant disapproval among Johnson & Johnson shareholders," said Illinois State Treasurer Michael Frerichs in a prepared statement. Other companies facing low say-on-pay support have said they would change their executive compensation structures in the future.
Persons: Johnson, Brendan McDermid, Glass Lewis, Michael Frerichs, Bob Iger Organizations: Johnson, New York Stock Exchange, REUTERS, Illinois, Institutional, Services Inc, J, Health Inc, Walt Disney Co, Reuters, Thomson Locations: New York, U.S
J&J shareholders approve CEO Gorsky's near $30 mln pay plan
  + stars: | 2021-04-22 | by ( Jessica Dinapoli | ) www.reuters.com + 0.64   time to read: +1 min
Shareholders at Johnson & Johnson (JNJ.N) approved Chief Executive Alex Gorsky's $29.6 million pay plan for 2020 at the healthcare company's annual general meeting on Thursday. J&J has said the move is consistent with its long-term practices. The final results of the vote, including the total number of J&J investors who approved and rejected the pay arrangement, will be released in the coming days. "We continue to believe in the positive benefit-risk profile of our vaccine." Our Standards: The Thomson Reuters Trust Principles.
Persons: Johnson, Alex Gorsky's, Gorsky, J's Organizations: Johnson, Thomson Locations: U.S
FILE PHOTO: The GameStop store sign is seen at its shop in Westminster, Colorado January 14, 2014. As a condition of his exit, GameStop is speeding up the time frame for Sherman to receive the shares, generating the award. Sherman, who has been CEO since April 2019, forfeited $98 million worth of stock this month because he did not meet performance targets, GameStop disclosed last week. VESTING OF SHARESGameStop granted Sherman roughly 925,000 shares last June that he was set to receive in thirds over three years, according to regulatory filings. GameStop has said Sherman plans to remain on the board of directors without pay to help the next CEO transition into the role.
Persons: George Sherman, Rick Wilking GameStop, Sherman, Ryan Cohen, Eric Hoffmann, ” Hoffmann, Cohen, Joseph Ianniello, Co’s Jamie Dimon’s, Organizations: Reuters, Gamestop Corp, GameStop, REUTERS, U.S, Chewy Inc, ViacomCBS, JPMorgan Chase, Parts Inc, Home Depot Inc, VESTING, & $ Locations: Westminster , Colorado, Grapevine , Texas
GameStop said on Monday that Sherman would step down by July 31. As a condition of his exit, GameStop is speeding up the time frame for Sherman to receive the shares, generating the award. Sherman, who has been CEO since April 2019, forfeited $98 million worth of stock this month because he did not meet performance targets, GameStop disclosed last week. VESTING OF SHARESGameStop granted Sherman roughly 925,000 shares last June that he was set to receive in thirds over three years, according to regulatory filings. GameStop has said Sherman plans to remain on the board of directors without pay to help the next CEO transition into the role.
Persons: George Sherman, Sherman, Ryan Cohen, Eric Hoffmann, ” Hoffmann, Cohen, Joseph Ianniello, Co’s Jamie Dimon’s, , Jessica DiNapoli, Greg Roumeliotis, David Gregorio Organizations: Gamestop Corp, GameStop, U.S, Chewy Inc, ViacomCBS, JPMorgan Chase, Reuters, Parts Inc, Home Depot Inc, VESTING, & $ Locations: Grapevine , Texas, New York
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