The number of CEOs in the Russell 3000 making more than $100 million in total compensation has spiked over the past two years, according to data from public company intelligence provider MyLogIQ. For 2021, 15 such compensation plans have been disclosed in proxy statements thus far, led by automated digital marketing company The Trade Desk… Continue reading The 15 CEOs in This Year’s $100 Million+ Club
Category: Agenda
Many New Climate Proposals Flew Too Close to the Sun
The climate-change related shareholder proposals popping up in 2022 proxies are far more prescriptive or “constraining” than the ones BlackRock supported last year, the asset manager said in a report earlier this month, noting they “may not promote long-term shareholder value.” Sources say that’s a key reason many climate proposals have struggled to get the… Continue reading Many New Climate Proposals Flew Too Close to the Sun
Ho-Hum Support for Climate Proposals at Early Meetings
Several climate-related shareholder proposals went to a vote last week at S&P 500 companies, and most of them failed to garner more than 15% of the vote. While it is unusual for first-time proposals to win high levels of support at annual meetings, the focus on environmental issues among investors and proxy advisors had suggested… Continue reading Ho-Hum Support for Climate Proposals at Early Meetings
‘Hacktivism’ Draws Criminals from Ransomware, but Risk Still High
The war between Russia and Ukraine has drawn some cybercriminals away from monetarily driven cyberattacks — such as the typical ransomware attack — and toward hacktivism. Despite that, the number of ransomware attacks is still expected to grow this year, according to a leading cybersecurity company. Directors shouldn’t take some hackers’ new focus as a… Continue reading ‘Hacktivism’ Draws Criminals from Ransomware, but Risk Still High
New Investor Policies ‘Highly Likely’ to Increase Negative Director Votes
State Street Global Advisors’ (SSGA) CEO Cyrus Taraporevala is ramping up expectations for companies to boost disclosures and update strategies on board and employee diversity as well as climate change this year. Taraporevala’s letter to board members on the firm’s 2022 proxy voting agenda, released this month, warns that the firm will vote against directors… Continue reading New Investor Policies ‘Highly Likely’ to Increase Negative Director Votes
The Largest Gross-Ups of 2020
In recent years, tax gross-ups, along with many other executive perquisites, have fallen out of favor with investors and been on the decline. However, the practice persists for certain members of the C-suite. Nearly a third of S&P 100 companies awarded gross-ups to at least one executive last year, while over a fifth of companies… Continue reading The Largest Gross-Ups of 2020
The Largest Financial Planning Perks for NEOs
Although executive perks are declining overall, one of the more common perks offered to executives is financial planning services. Indeed, about 29% of companies in the S&P 500 provided some form of financial planning perk to executives last year, according to Main Data Group. The perk is more common among the largest companies: of the NEOs… Continue reading The Largest Financial Planning Perks for NEOs
You’ve Got a New CEO. How Soon Will Your CFO Leave?
Boards often devote plenty of time to succession planning and the compensation aspects of the CEO position, but a key piece involves the second in command. Even if the new CEO pick is the right choice, changes at the top can destabilize the C-suite, particularly if the CFO isn’t meshing with the CEO or feels left out of the transition process. Boards are increasingly being advised to develop succession planning processes for the CFO role that mirror the CEO’s succession plan to prepare for various eventualities.
So far this year, 17 CFOs have retired or resigned their positions after the appointment of a new CEO, according to data from public company intelligence provider MyLogIQ. The number was 26 in 2020 and 23 in 2019. The findings underscore the delicate and important dynamic between the two executives that may become strained. New CEOs often implement strategic shifts, particularly if they come from outside the company. Meanwhile, the CFO may have come in second place for the CEO position and could be harboring some bitterness. In addition, general communication and personality conflicts can also be a factor, former CFOs, board members and consultants said.