Tag Archives | Directors

Sinecures In Peril

from The Economist UNTIL recently HealthSouth, which runs a chain of hospitals and clinics, was known more for corporate scandals than for corporate governance. A series of criminal and civil trials have raked over a massive accounting fraud at the firm for the best part of a decade. But on October 26th it took what […]

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Director Liability On The Rise

from Forbes As the economy continues to falter due to the ongoing recession, officers and directors of public companies face the increasing possibility that their decisions will be challenged by investors, regulators and even criminal prosecutors. This increased scrutiny makes it more important than ever that directors understand their obligations and potential liabilities. Public criticism […]

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The Boardroom Guide To Litigation

from Directorship (via Forbes) Following the lead of the 2008 federal elections, recent state elections have ushered in a new wave of pro-plaintiffs’ bar lawmakers and judges. These changes are reflected in Directorship’s Boardroom Guide to State Litigation Climates, the third annual collaboration of Directorship and the Foundation for Fair Civil Justice, a national coalition […]

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Time To Split The Ceo And The Chair?

from Directorship (via Forbes) Harry Pearce has logged a lot of hours in boardrooms over the years. From his days as vice chairman of General Motors to his current posts as non-executive chairman of Nortel Networks and MDU Resources, a Fortune 500 energy and construction company, he has experienced the full spectrum of board structures […]

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Board Ties at Apple and Google Are Scrutinized

from NYTs The Federal Trade Commission has begun an inquiry into whether the close ties between the boards of two of technology’s most prominent companies, Apple and Google, amount to a violation of antitrust laws, according to several people briefed on the inquiry. Apple and Google share two directors, Eric E. Schmidt, chief executive of […]

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Executives Took, but the Directors Gave

from NYTs LITTLE of the ire against outsize C.E.O. paychecks has been aimed at the people who signed off on them: corporate directors. Instead, the anger has been concentrated on the executives themselves, particularly those running companies at the heart of the financial crisis. And boards — thrust into the limelight only rarely, as when […]

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Board Pay Still Rising

from BW.com Compensation for corporate directors has continued to increase in recent years, a new report by the National Association of Corporate Directors(NACD) indicates. The NACD’s 2008 Director Compensation Report—to be released in the coming weeks—finds that the trend toward higher pay for audit committees and their chairs, more than any other committee, has also […]

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Directors Resign From Affiliated After a Review

from NYTs Affiliated Computer Services said its independent directors had resigned, less than a month after they accused the chairman, Darwin Deason, of bullying them over a failed takeover bid. The five directors said Nov. 1 that they planned to resign after reviewing their successors. Yesterday they said they had “no reason” to think the […]

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When the Board Wants a New CEO…

from BW.com You’re still nursing your hangover from the funding celebration party, thrilled that your startup is flush with cash after months of scrimping and scraping (see BusinessWeek.com, 1/22/07, “Rules for Raising Capital”). Now the financiers want to beef up the executive team. First order of business? A new CEO. Hey, wait a sec—that’s your […]

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Why Backdated Options Might Be Contagious

from NYTs DIRECTORS of corporations often form a tight-knit community, serving at more than one company and creating what are known as interlocking boards of directors. As a result of this chumminess, corporate practices that otherwise might remain confined to just a few companies can spread quickly. That appears to have been the case with […]

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California Offers Former HP Chairman Plea Deal

from cNet News California’s attorney general is offering former Hewlett-Packard Chairman Patricia Dunn and four others charged in the HP spying scandal a chance to plead guilty to a misdemeanor, a source said Thursday. Stephen Naratil, an attorney for data broker Bryan Wagner who is one of the defendants in the case, told the Associated […]

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Blowup at Home Depot

from BW Online BW’s executive editor, John Byrne, and correspondent Brian Grow talk about how in the end, Bob Nardelli’s departure from Home Depot came down to a squabble over pay for performance. They discuss getting the inside story on the controversial CEO. More here.

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Blame The Board

from Forbes Home Depot’s board ousted embattled CEO Robert Nardelli this morning, surprising analysts and boosting the company’s stock price. But a little-noticed announcement buried deep in the company’s press release suggests that the retailer’s problems are far from over. The board members who negotiated a sweetheart compensation package for Nardelli are still in place–in […]

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HP Discloses Formal SEC Inquiry into Spy Tactics

from cNet News Hewlett-Packard disclosed Thursday that the Securities and Exchange Commission has moved ahead with a formal inquiry into the company’s controversial investigatory practices. “HP has been informed that the Securities and Exchange Commission has issued a formal order of investigation in its inquiry,” the company said in a regulatory filing Thursday with the […]

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