As a wave of mandatory retirements breaks over boards, nominating and governance committees are recruiting and onboarding a passel of new directors to fill the empty seats. … Delayed Retirements Now Due According to SEC filings analyzer MyLogIQ, other boards such as BB&T , Caterpillar , Dr. Pepper Snapple Group, Edison International, Hanesbrands, Hess, Mattel, S&P Global, TE Connectivity and Western Union saw a board member leave due to mandatory retirement policies.… Continue reading Age Limits Fuel Surge of New Directors
Tag: Board of Directors
Board Moves: Women Directors Now One-Third Strong
Two milestone, end-of-year board appointments made within a week of each other have increased the representation of women directors at two Fortune 100 companies. Women board members now make up one third of the directors at Allstate and Bank of America. In addition, the Allstate board is now made up of 50% women and directors of color, and… Continue reading Board Moves: Women Directors Now One-Third Strong
New ISS Policy a Warning Shot for Boards
A new ISS policy geared toward reining in excessive pay among boards could also result in greater scrutiny of board perquisites or pay elements that ISS views as problematic, particularly for companies planning to seek shareholder approval of director pay. The proxy advisory firm last week provided more details about how it will consider director compensation plans… Continue reading New ISS Policy a Warning Shot for Boards
Board Moves: Longtime Board Members Say So Long
Several long-tenured directors will close 2017 by bidding farewell to board seats, according to data from public company intelligence provider MyLogIQ. Boards will also see a wave of incoming directors. At medical technology company Stryker, Howard Cox, Jr., will retire from the board after 44 years with the company, which includes five years before it went public in… Continue reading Board Moves: Longtime Board Members Say So Long
Are Term Limits Making a Comeback?
Term limits have long been regarded as too blunt an instrument for board refreshment, particularly in comparison with annual board evaluations. But it appears that term limits may be poised to stage a comeback. Since 2015, such boards as General Electric, Illumina, Microsoft, Signet Jewelers and Sysco have adopted tenure or term-limit policies designed to cap board service and curb overly long… Continue reading Are Term Limits Making a Comeback?
Boards Engaging With NYC Pensions on Disclosure
More than 100 companies have responded to the New York City Pension Funds’ Board Accountability 2.0 campaign during the past two months. The pension funds sent letters signed by NYC comptroller Scott Stringer to 151 nominating and governance committee chairs in a bid to compel the boards to disclose individual directors’ skills, gender, ethnicity, age, tenure and —… Continue reading Boards Engaging With NYC Pensions on Disclosure
Board Moves: Boards Stock Technology Committees
Recruitment of technologists who can help boards oversee strategy, technology and cyber security continues apace, and those directors are joining committees that oversee technology and operations. In the past month, companies such as Citigroup, Total System Services, Williams Sonoma and World Fuel Services appointed directors with technology expertise, and in nearly all cases, the new directors were simultaneously appointed to tech… Continue reading Board Moves: Boards Stock Technology Committees
A Call for Stronger Independence Disclosure
A forthcoming study argues that bright-line legal tests for determining director independence are out of date and lead to an overreliance on boards’ discretion. Instead of asking investors to just take boards’ word for it, the study posits that companies should disclose all the factors a board considers in determining the independence of individual directors.… Continue reading A Call for Stronger Independence Disclosure