board of directors

15 Stories

Facebook Makes Move for Zuckerberg's Power If He Leaves

Board wants to curb his voting clout if he departs

(Newser) - It's hard to imagine Facebook without the face of Mark Zuckerberg at its helm, but that's exactly what the site's board of directors is anticipating in its latest proposal to the SEC. Per Reuters , the board submitted a proxy filing Thursday, notifying the federal agency that it... More »

Activist Investor Wants to Scrub Entire Yahoo Board

Starboard says it's got 9 nominees to take over for floundering Internet company

(Newser) - Yahoo's entire board of directors should be swapped out, per an activist investor, and the AP reports that Starboard Value is going to nominate nine new board members Thursday, ratcheting up tensions between itself and the beleaguered Internet giant. The Wall Street Journal says it reviewed a letter from... More »

Romney Rejoins Marriott Board

Move marks return to pre-election life

(Newser) - Nearly a month after his election defeat, Mitt Romney is returning to corporate life. Marriott International says Romney has rejoined its board of directors, which he left in January 2011, CNN reports. "It is an honor to once again be able to serve in the company of leaders like... More »

Zuck Didn't Ask Facebook Board About Instagram Buy

Mark Zuckerberg hashed $1B deal out on his own

(Newser) - If you're wondering what was going through the minds of Facebook's board members when they decided to fork over $1 billion for Instagram, the answer is a big fat nothing. That's because the board of directors didn't play a role in OKing Facebook's biggest acquisition... More »

Three More BofA Directors Quit

(Newser) - Three more Bank of America directors have resigned, upping the beleaguered lender’s recent board departures to 10, Bloomberg reports. John T. Collins, William Barnet III, and Gary Countryman did not leave because of any disagreement with company executives, the bank insists. More board members will be added later this... More »

Bayh's Wife in Deep With Health Industry

Senator says his vote unaffected by Susan's myriad board positions

(Newser) - As both sides of the health care debate court Sen. Evan Bayh's elusive vote, his wife's earnings from the industry are raising more than a few eyebrows. The Indianapolis Star  takes a look at Susan Bayh, who pulled down some $2.1 million between 2006 and 2008 for serving on... More »

Why Corporate Boards Seldom Do Their Jobs Well

Directors largely responsible for missteps, but keep their jobs

(Newser) - Recent shareholder meetings at Citigroup and the Bank of America devolved into morality plays—wronged shareholders berated executives, executives apologetically vowed to improve—with a rather curious epilogue: every member of the board of directors was reelected. The reason is that corporate boards are often filled with under-informed, over-paid yes-men... More »

Facebook Should 'Unfriend' CEO

(Newser) - Mark Zuckerberg has made mistakes in the past 6 weeks “that would have led to any normal CEO's firing,” Owen Thomas writes for Gawker, and the Facebook CEO's case should be no different. His three strikes: a privacy-shredding “terms of service disaster,” an “awful redesign,... More »

Shareholders Rage at Apple Board's Silence on Jobs

Apple board rebuffs requests for updates on CEO's health

(Newser) - Apple shareholders left an annual meeting today upset at the company’s board for staying mum about CEO Steve Jobs’ health, the Wall Street Journal reports. Considered the company’s chief innovator, Jobs rattled Apple’s stock price last month with news that treatment for a hormone imbalance would sideline... More »

Rubin Quits Citi; Smith Barney for Sale

Ex-Treasury Sec. saw company's stock dive 90% since late '06

(Newser) - Former Treasury Secretary Robert Rubin is leaving his posts at struggling Citigroup, the Wall Street Journal reports. He retired as a senior counselor effective today, and won’t pursue another term on the board of directors. Journal sources also say Citigroup is in talks to sell Smith Barney, its brokerage... More »

GM Board Would Consider Bankruptcy

Directors differ with CEO Wagoner as automaker struggles

(Newser) - Some General Motors’ directors are willing to consider bankruptcy protection as an option for the failing automaker, the Wall Street Journal reports, marking an unusual disagreement with CEO Rick Wagoner. Wagoner told Congress repeatedly this week, in seeking an immediate financial bailout, that reorganizing through a Ch. 11 bankruptcy is... More »

Deal Puts Icahn on Yahoo Board

Activist investor gets seats for 2 allies

(Newser) - Yahoo will add two seats to its board of directors and put Carl Icahn in one of them, reports the Wall Street Journal, in a deal that ends Icahn’s proxy fight. Eight of Yahoo’s current board members, including CEO Jerry Yang, will keep their seats, while a ninth... More »

Yahoo Postpones Boardroom Showdown

Company buys more time to prepare for proxy battle

(Newser) - Yahoo has pushed back its annual shareholder meeting for a second time, reports Forbes, delaying a showdown for control of its board. One of Yahoo's 10 directors resigned yesterday, leaving nine up for re-election at the meeting. Carl Icahn has nominated an alternate slate of directors, including himself, and will... More »

Norway Shatters Its Glass Ceiling

Nation requires 40% of big companies' boards to be female

(Newser) - A state-mandated shattering of Norway's glass ceiling is drastically changing gender balance in boardrooms there—and not without some resistance, the Guardian reports. A law that 40% of non-executive board directorships at larger firms must go to women went into effect Feb. 22—and though a dozen Norwegian companies failed... More »

Microsoft to Engineer Proxy Fight for Yahoo's Board

Ballmer, Gates playing hardball

(Newser) - Rather than raise its $44.6 billion hostile takeover bid, Microsoft will start a proxy fight at Yahoo, with an eye to nominating a slate of directors for the board by mid-March. The hardball tactic will cost less than upping the bid—$20 million or $30 million will pay a... More »

15 Stories