All articles tagged with #board overhaul
Lululemon founder Chip Wilson has proposed a board overhaul by nominating three new directors to bring visionary leadership and restore confidence amid the company's struggles with declining shares, increased competition, and leadership changes, while activist investor Elliott Management also targets the company's future direction.
Tennessee's majority-white legislature removed all 10 board members at the state’s only publicly funded historically Black university, Tennessee State University, and appointed eight new members, mostly from the business sector, to replace them. This move has been criticized by Democrats, who argue that the university's financial problems stem from years of state underfunding. The overhaul came after Republican complaints of mismanagement, despite a recent external audit finding no evidence of fraud. The "optics" of wiping out the board at an HBCU were deemed "horrendous" by Democrats, and TSU students cheered when Democrats criticized their colleagues and booed when Republicans passed the bill.
UBS is set to revamp the board of its domestic Swiss business following its takeover of Credit Suisse, appointing Roger von Mentlen as chairman of the boards of directors for both UBS Switzerland and Credit Suisse Switzerland. The change, effective from November 1, aims to ensure coordinated supervision of the two banks, which are expected to complete their legal merger next year. The move comes as UBS plans to integrate Credit Suisse's domestic business into its existing operations after the emergency takeover earlier this year.