Archive for the 'Boardroom' Category...
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Shareholders upset about Yahoo’s lagging performance forced CEO Terry Semel to defend the company’s market strategy, even as he and other company-backed officers were re-elected to the portal’s board of directors. Yahoo shareholders defeated a proposal to change the way executive pay is determined, but a third of those who cast votes supported the move — a sign that a growing number of investors are upset about hefty bonuses being paid out to Semel and others as the company’s stock has drifted sideways.
Original post by Keith Regan and software by Elliott Back
Filed under Boardroom
Since the passage of Sarbanes-Oxley in 2002, board members have become increasingly aware of potential liabilities to board service. Though much of this worry is unfounded, some things still should be watched closely. As a board member, you should be aware of at least some basic indications that there might be some liability attached to your board service. For instance, if the company on whose board you serve tends not to stay with a public accounting firm for too long a time, it could be a sure sign of trouble.
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Original post by Theodore F. di Stefano and software by Elliott Back
Filed under Boardroom
VeriSign, which manages the “.com” and “.net” domain names registry, said Tuesday that chief executive Stratton Sclavos has resigned for undisclosed reasons. Analysts were startled by the abrupt departure. The company gave little information about the reason for Sclavos’ exit after 12 years as CEO. William Roper Jr., the former chief financial officer of government technology contractor Science Applications International, was appointed to succeed Sclavos, in a sign the company is focusing on improving profits and reining in spending.
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Original post by Jordan Robertson and software by Elliott Back
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Both investors and labor welcomed Monday the appointment of a new chief executive at Siemens, the German electronics and engineering company that has been shaken by a kickbacks scandal. Austrian-born Peter Loescher, 49, is to receive a five-year contract, breaking with an earlier trend to short contracts, Siemens disclosed Monday. It declined to disclose his salary. Observers said the executive, hired from U.S. drugs group Merck & Co., was a consensus man who did not polarize people in a crisis.
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Original post by Bob LeVitus and software by Elliott Back
Filed under Boardroom
The board of directors for radio and billboard giant Clear Channel Communications unanimously approved a slightly sweetened $19.5 billion buyout offer from private equity groups whose prior attempts it recently rejected. Asked by some major shareholders to rethink that rejection, the board announced its approval of a second amendment to the offer by Thomas H. Lee Partners and Bain Capital Partners. Under the terms of the amended agreement, Clear Channel shareholders will receive $39.20 in cash for each share they own, 20 cents more than previously offered.
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Original post by Fred J. Aun and software by Elliott Back
