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It’s a bizarre fact of American business that directors can stay on corporate boards for years after shareholders have resoundingly rejected them in an annual vote. (As we footnoted here, just look at Cablevision) So we were at first happy to see that Costco (COST), the giant warehouse-store chain, had modified its bylaws to require [...]
For many titans of government and industry, a spot on a corporate board or two is just the thing when a long career begins to draw to a close, or to bridge the gap between one endeavor and another. But what to do when you want to retire from the corporate board? Newmont Mining Corp. [...]
We all hear a lot about health-care inflation. We hear less about inflation in director compensation at health-care companies. Yet it seems to be very real at Hospira (HSP), the specialty pharmaceutical supplier to hospitals, clinics, nursing homes and other institutions. On June 16, Hospira’s board voted itself a decent pay raise: It increased its [...]
As far as we can tell, no one keeps formal track of director departures from corporate boards, much less those that occur amid public words of disillusionment and chastisement. So let us take an informal stab at it: Through the first half of 2010, we here at footnoted have logged at least four noisy director [...]
If those cheery director biographies in this year’s proxy filings have looked any meatier — the ones accompanying pictures of the company’s directors and officers — it’s probably because of a new Securities and Exchange Commission directive to tell investors “[t]he particular experience, qualifications, attributes or skills that led the company’s board to conclude that [...]
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