![]() It notes the appointment of a new chief aerospace safety officer. But Glass Lewis has recommended shareholders vote against the re-election of Kellner and Giambastiani, who leads the board’s safety committee.Ī Boeing spokesperson pointed to a new investor presentation that cites the company’s four new directors as evidence of the board’s ‘deep commitment to refreshing its membership.’ The presentation says its ‘highly qualified, diverse board’ has a combination of experiences needed to oversee management effectively. ISS gives Boeing credit for ‘significant board and management changes and reforms to the company’s safety and compliance processes,’ as well as the 737 MAX’s return to commercial service last year, and recommends investors re-elect the company’s directors. Seven directors who were on the board when a second 737 MAX crashed two years ago have since left or will soon depart and the board has four new members. – Ahead of Boeing’s April 20 AGM, shareholders are considering whether to re-elect the company’s slate of 10 board members or follow a proxy advisory firm’s recommendation to vote against longtime directors Larry Kellner, who is board chair, and Edmund Giambastiani, according to the WSJ. ‘It was a defiant stand against those politicians trying to silence them,’ said Yale’s Professor Jeffrey Sonnenfeld, who helped organize the event with the Coalition for Inclusive Capitalism and the Leadership Now Project. ![]() The Zoom meeting with CEOs from a cross-section of industries highlights the growing tensions between the business community and Republicans following former president Donald Trump’s efforts to sow doubts about the legitimacy of the 2020 election. – CNN reported that dozens of business leaders held a brainstorming session to discuss ways to fight controversial voting restrictions proposed in states around the country. ‘The agencies’ use of guidance and reversal of policy statements demands a quick turnaround of compliance for firms.’ ‘The interim Democratic leadership for these agencies is moving very quickly to tackle the deregulatory policy shifts that occurred under Trump,’ said Quyen Truong, partner at Stroock & Stroock & Lavan. Lawyers and consumer groups say that, rather than taking on the lengthy process of rewriting the rules, agencies have in many instances used speedy legal tools such as delaying unfinished rules, issuing informal guidance, rescinding old policy statements or issuing new ones and choosing not to enforce existing rules. They have dropped or delayed more than a dozen Trump-era measures that critics said eroded consumer protections, weakened enforcement and limited investors’ ability to push for ESG changes. – According to Reuters, President Joe Biden’s interim regulators are moving to unravel Wall Street-friendly measures introduced under the previous administration. In a statement, Ant said it ‘will spare no effort in implementing the rectification plan, ensuring that the operation and growth of our financial-related businesses are fully compliant.’ The directive follows a regulatory pressure on Ma’s business that began with the suspension of the company’s IPO in November. It said a ‘comprehensive, viable rectification plan’ for Ant has been developed under the regulators’ supervision over the past few months. In a statement, the People’s Bank of China said Ant representatives were summoned to a meeting with four regulatory agencies that also included the country’s banking, securities and foreign-exchange overseers. – The Wall Street Journal reported that Jack Ma’s Ant Group will apply to become a financial holding company overseen by China’s central bank, revamping its business to adapt to a new era of tighter regulation for internet companies.
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