All articles tagged with #board members
The Kennedy Center altered its bylaws to restrict voting to Trump-appointed board members, leading to a controversial vote to rename the center after Donald Trump, sparking criticism, legal challenges, and protests.
Ben & Jerry's has removed three independent board members, including Chair Anuradha Mittal, amid new governance practices aimed at preserving the company's social mission, sparking criticism from co-founder Ben Cohen and highlighting ongoing tensions with its owner, Magnum/Unilever, over independence and activism.
An investigation is underway in Oklahoma after two board members reported seeing nude women on State Superintendent Ryan Walters' office TV during a meeting, raising questions about the incident and Walters' conduct.
Two Oklahoma State Board of Education members were shocked to see nude women on a TV in Superintendent Ryan Walters' office during a meeting; Walters acknowledged the incident but did not apologize, leading to calls for accountability and investigation into his conduct.
HYBE Labels dismissed two ADOR officers who supported CEO Min Hee Jin and appointed three new board members. This follows a court ruling protecting Min Hee Jin's position as CEO amid internal conflicts.
OpenAI board members Bret Taylor and Larry Summers have responded to criticisms from former board members Helen Toner and Tasha McCauley regarding the handling of CEO Sam Altman's resignation and subsequent reinstatement. They emphasized that an extensive external review was conducted, involving numerous interviews and document evaluations, and that the input from Toner and McCauley was thoroughly considered in their final judgments.
OpenAI has formed a new Safety and Security Committee led by board members and CEO Sam Altman, following the dissolution of its previous safety team. This move comes amid concerns about the company's focus on product over safety, highlighted by recent high-profile resignations and controversial actions. The new committee aims to evaluate and improve safety processes, with plans to share recommendations publicly in 90 days.
Tesla's biggest retail shareholder, Leo Koguan, is voting against Elon Musk's $55 billion compensation package and the re-election of two board members, expressing frustration with the governance issues at Tesla. Koguan, who has invested more money in Tesla than Musk himself, believes the company is a "family business masquerading as a public company" and has been unable to communicate his concerns to the board. While his position is significant, institutional investors are expected to play a crucial role in the upcoming shareholder votes.
Four members of Paramount Global's board of directors, including Dawn Ostroff and Nicole Seligman, are set to exit amid increased M&A talks with Skydance Media. The departing directors will not stand for reelection at the annual meeting in June, with at least one expressing concerns about the potential Skydance deal. Meanwhile, Paramount Global CEO Bob Bakish's compensation for 2023 dropped 2.4% to $31.26 million, as the company continues negotiations with Skydance and considers other bids, including one from Apollo Global Management.
Four board members at Paramount Global, including Dawn Ostroff and Nicole Seligman, will step down as talks with Skydance Media continue, with the company's annual meeting scheduled for June 4. The departure of these board members comes amid exclusive talks for a potential sale to Skydance, following the rejection of an all-cash bid from Apollo. Paramount's CEO Robert M. Bakish's compensation package for 2023 was disclosed, showing a slight decrease from the previous year, and the company has announced plans for job reductions in the U.S. and abroad.
Two Warner Bros. Discovery board members, Steven A. Miron and Steven O. Newhouse, have resigned following concerns from the U.S. Department of Justice about a potential antitrust violation. The DOJ's probe focused on whether their service violated Section 8 of the Clayton Antitrust Act, as both executives were also serving on the board of Charter Communications, a competitor. The resignations come after the merger between Discovery Inc. and WarnerMedia, and the board will be reduced from 13 members to 11 with no immediate plans to replace the departing members.
Two members of the Newhouse family, Steven Newhouse and Steve Miron, have resigned from the board of Warner Bros. Discovery due to inquiries from the U.S. Department of Justice regarding potential violations of antitrust laws. The resignations come as a response to the investigation into whether their service on the board violated Section 8 of the Clayton Antitrust Act, which addresses corporate directors serving on the boards of competitors. The Newhouse family collectively owns about 8.1 percent of WBD’s outstanding shares and has large stakes in other companies such as Charter, Reddit, Conde Nast, and The Ironman Group.
Boeing's board members, led by chairman Larry Kellner, plan to hold meetings with top executives from major airline customers without CEO Dave Calhoun's participation, in response to growing frustration over the company's ongoing crisis. The initiative aims to gather unfiltered feedback as Boeing grapples with a crisis centered on its 737 Max jetliner and concerns about manufacturing quality and safety. The move comes after a sweeping audit by the US FAA raised safety culture concerns, and follows expressions of frustration from prominent airline CEOs, including Ryanair's Michael O'Leary, who called on Boeing to improve its performance.
OpenAI reinstates Sam Altman as CEO and appoints three new board members, including Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo, to address criticism of the board's lack of diversity. The decision follows an investigation that concluded Altman's ouster was due to a breakdown in trust, not concerns about product safety or security. OpenAI also plans to adopt new corporate governance guidelines, including a strengthened conflict of interest policy and the establishment of additional board committees.
Nvidia board members have been cashing in on the company's soaring stock price, with several insiders selling off millions of dollars worth of shares in recent weeks. Despite the sales, these board members still hold significant stakes in the AI chip developer, with CEO Jensen Huang holding about 86 million shares. The trend of executives selling off company stock extends beyond Nvidia, with notable figures like JPMorgan Chase CEO Jamie Dimon, Amazon founder Jeff Bezos, and Meta Platforms founder Mark Zuckerberg also making substantial sales.