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☆ Former United Airlines CEO on increasing costs, strong travel demand and labor shortages
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer United Airlines CEO on increasing costs, strong travel demand and labor shortagesOscar Munoz, co-chair of the National Association of Corporate Directors Blue Ribbon Commission and former United Airlines CEO, joins 'Power Lunch' to discuss the state of the airline industry.

Persons: Oscar Munoz Organizations: Former United Airlines, National Association of Corporate, Ribbon Commission, United Airlines CEO

China detained the executive, named in several media reports as Hiroshi Nishiyama, on suspicion of espionage in March, and he was formally arrested last month. Japan's then foreign minister protested the executive's detention with his Chinese counterpart on a visit to Beijing in April. China's foreign ministry did not immediately respond to a request for comment. Half the respondents in a recent survey of Japanese companies doing business in China said they would cut investments this year. It's a very difficult point in time to be navigating that as a decision maker, in business or politics," he said.

Persons: Fumio Kishida, Xi Jinping, Rahm Emanuel, Hiroshi Nishiyama, Japan's, Xi, Masashi Mizobuchi, Nishiyama, Takeshi Niinami, Niinami, Stefan Angrick, Yukiko Toyoda, Kiyoshi Takenaka, John Geddie, Sakura Murakami, Francis Tang, Laurie Chen, Antoni Slodkowski, Andrew Silver, Lincoln Organizations: Economic Cooperation, Kyodo, drugmaker Astellas Pharma, APEC, Reuters, Japanese Chamber of Commerce, Japan Association of Corporate, Suntory, Moody's Analytics, Thomson Locations: Asia, Bangkok, Thailand, TOKYO, BEIJING, China, San Francisco, Tokyo, U.S, Japan, Beijing, officialdom, Shanghai

Failure to secure the cash they need at rates they can afford, could lead to insolvencies and layoffs. "I think we're now starting to finally see the fall of some of the zombies," she added. This can include restructuring loan repayments, offering reduced rates or other more relaxed terms and can help banks avoid loan write-offs. "Banks and private equity shops have waited to see if the tide turned but higher rates don't allow hiding anymore." Any large corporate failures are likely to have a "contamination effect", said Tim Metzgen, an A&M managing director.

Persons: Dado Ruvic, Alvarez, Julie Palmer, Begbies Traynor, we're, Begbies, Nicola Marinelli, Banks, Paul Kirkbright, Kirkbright, Eva Shang, Katie Murray, Naresh Aggarwal, Ravi Anand, Anand, Tim Metzgen, Jane Merriman Organizations: REUTERS, Reuters, Britain's, National Statistics, Casino, Regent's University, of England, Bank of, Finance, M's, NatWest Group, Association of Corporate, Companies, Thomson Locations: Europe, Middle East, Africa, England, Wales, U.S, Basel III

☆ Corporate directors group offers 10 recommendations for strengthening boardroom culture
▼ + stars: | 2023-09-29 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

A rise in shareholder activism and regulatory demands has forced company boards to adapt — and fast. That's why the National Association of Corporate Directors spent the last six months examining the role that culture can play in a board's success. Led by Oscar Munoz, former CEO of United Airlines, and Mary Winston, a director at Acuity Brands, Chipotle, Northrop Grumman and TD Bank Group, the NACD Blue Ribbon Commission drafted a collection of recommendations to help boards strengthen their culture and performance. "Boards have long expected management to take ownership of the values, beliefs, behaviors, and norms that make up the culture within an organization," Munoz said in a statement. "Now, it's time for directors to turn inward and embrace that same sense of ownership — but of their own boardroom culture."

Persons: Oscar Munoz, Mary Winston, Northrop Grumman, " Munoz Organizations: National Association of Corporate, United Airlines, TD Bank Group, Ribbon Commission

But the amount of cybersecurity expertise on boards remains relatively low, at a time when boards are under increased scrutiny for security failings. In responses to that survey from 472 corporate board directors, 76% said their board had at least one cybersecurity expert, including 19% who said their board had at least three directors with cybersecurity expertise. The other 25 directors’ experience comes from either having held a senior government role in cybersecurity or from having led and/or founded a cybersecurity company. Whatever a board’s composition, most directors aren’t very confident in their board’s ability to handle a cybersecurity incident. Cybersecurity company leader: Nineteen directors have founded and / or led cybersecurity or data security companies.

Persons: Jamil Farshchi, don’t, ”, ’, Shamla Naidoo, Netskope, Naidoo, ” Naidoo, aren’t, Shankar Arumugavelu, Nir Zuk, Zuk Organizations: WSJ Pro Research, Securities and Exchange, Pro Research, National Association of Corporate, Business Machines, WSJ, Seagate Technology Holdings, Verizon, Palo Alto Networks, Juniper Networks Locations: cybersecurity, FactSet

☆ Many Boards Are Playing Catch-Up on ESG and Green Issues
▼ + stars: | 2023-09-14 | by ( Rob Sloan | ) www.wsj.com time to read: +9 min

Other findings were that most believed sustainability efforts had brought real benefits and said ESG engagement with investors had been mostly positive. They also reported that while about half of big companies had ESG targets—many linked to executive compensation—smaller, private companies lagged behind. For public companies investors were most influential, followed by regulators, while directors of private businesses ranked their customers as top with investors in second place. “You had a wind that was giving companies and boards energy, and now you have a countervailing wind of political backlash,” Smith said. Despite those changes, half of respondents believe ESG will continue to be an important driver of their business decisions and strategy.

Persons: aren’t, —, ”, Kristin Campbell, Campbell, “, Alan Smith —, Smith, ” Hilton’s Campbell, ” Smith, ESG, ” Campbell, — hadn’t, Rob Sloan Organizations: Pro, National Association of Corporate, ESG, Hilton Worldwide Holdings, Regency Centers, HSBC, Estates, Sustainable Business, rob.sloan@wsj.com Locations: U.S

☆ How to join a board of directors
▼ + stars: | 2023-05-18 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

NEW YORK, May 18 (Reuters) - When Hayley Woodin was thinking of giving back to the community while taking her career to the next level, one option stood out: serving on a board of directors. The Catch-22 is that companies want directors with board experience to fill board seats. Before you reach that stage, you will likely start on a volunteer board, as Hayley Woodin did. To find such opportunities, "often local boards of trade will host events designed to pair those looking for board experience, with organizations looking for board members," Woodin said. "If an organization is looking to bring someone onto their board, what is the first thing they are going to do?

☆ Increasing Law Department Diversity
▼ + stars: | 2023-05-01 | by ( Michelle Graham | Practical Law | ) www.reuters.com time to read: +17 min

Create a law department DEI committee consisting of diverse law department employees to:evaluate the law department’s DEI status; develop a plan and a budget to increase or maintain law department diversity; and monitor and promote the success of the law department’s DEI initiatives. Incentivize law department employees to refer diverse candidates for job openings by paying them a referral bonus if the law department hires those candidates. Retaining Diverse Law Department EmployeesWhile recruiting and hiring diverse employees for the law department requires continuous effort, retaining them once hired presents another challenge. Discuss initiatives the law department has taken to increase and maintain DEI in the law department, such as creating a DEI hiring committee. (For more on how law departments can improve DEI at their outside law firms, see Increasing Law Firm Diversity and Increasing Law Firm Diversity: Presentation Materials on Practical Law; for general guidance on working with outside counsel, see Working Effectively with Outside Counsel Checklist on Practical Law.)

☆ America's lack of boardroom diversity isn't just a PR problem, it's a business problem that will make companies more vulnerable in a downturn
▼ + stars: | 2022-12-14 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +6 min

More than a dozen companies had no board members of color, according to the report, which relied on 2021 data. Along with a few partner organizations, Watts launched a program in August to help companies interview and select more board members from underrepresented backgrounds. Bessie Watts of Vista Equity Partners is working on a program to increase the pipeline of board members from underrepresented backgrounds. More CEOs are embracing not just the moral case for board diversity, but the business case, as well, Watts said. "We're able to meet and help support board members with valuable new insight."

Any crunch for Britain's small businesses, which often lack the scale to pass on cost rises to customers as easily as bigger rivals, could deliver a new economic body blow. "How are we going to get out of this hole if it's not small businesses? "But there's no question that small businesses now have less capacity to increase their borrowing because you've got a slowing economy." Indeed small companies in Britain see their access to credit at its worst level since 2015, according to a quarterly survey by the FSB of 1,383 small business owners. Many small companies have also yet to repay state-backed loans extended to prop them up during COVID lockdowns, making their credit profiles increasingly unattractive.

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