All articles tagged with #board resignation
Novo Nordisk's entire independent board is resigning following disagreements with its controlling foundation, leading to a major leadership overhaul amid ongoing struggles with market share and recent layoffs, as the company shifts its strategic focus under new CEO Mike Doustdar.
The entire 12-member Fulbright Foreign Scholarship Board resigned in protest against alleged political interference by the Trump administration, which they claim compromised the program's integrity and mission, leading to concerns about the future of this longstanding diplomatic initiative.
All 12 members of the Fulbright Foreign Scholarship Board resigned, accusing the Trump administration of unlawfully interfering with the selection process and undermining the program's independence, marking a significant conflict over the program's governance and political influence.
23andMe is undergoing a major restructuring, laying off 40% of its workforce and cutting cancer research programs to focus on its core genetic testing business. This move follows the mass resignation of its board and a significant drop in market valuation. CEO Anne Wojcicki aims to stabilize the company by saving $35 million annually through these changes, despite challenges like a data breach and declining demand for DNA-testing kits.
Gildan Activewear's entire 12-person board has resigned, allowing activist investor Browning West's eight nominees to take control and reinstating former CEO Glenn Chamandy. This move ends a contentious proxy battle, with significant shareholder support for Browning West's slate and plan.
Oprah Winfrey is leaving the board of WeightWatchers after almost 10 years and revealed that she is using a weight-loss drug. She will not stand for reelection at the annual meeting of shareholders in May 2024 and plans to donate her interest in WeightWatchers to the National Museum of African American History and Culture. Her departure caused shares of WW International to fall more than 20%. Despite leaving the board, she will continue to collaborate with WeightWatchers and CEO Sima Sistani to elevate the conversation around recognizing obesity as a chronic condition and advocating for health equity.
Oprah Winfrey is leaving the board of WeightWatchers after eight years, as the company faces financial losses and competition from weight-loss drugs. Share prices fell more than 27 percent following the announcement. WeightWatchers suffered a loss of more than $88 million in 2023, and the company has been grappling with competition from injectable weight-loss drugs. Winfrey will continue to work with the company to advocate for health equity.
Former US Ambassador Jon Huntsman has criticized the University of Pennsylvania's response to antisemitism and announced that his family will stop donating to the university. This follows a backlash from donors and trustees over UPenn's handling of the Palestine Writes Literature Festival, which included speakers with a history of making antisemitic remarks. Huntsman accused UPenn of silence in the face of Hamas' attacks on Israel and called it "deeply adrift." In response, UPenn President Liz Magill admitted the school's inadequate response and increased security and support for Jewish centers on campus. A trustee also resigned, but the board of trustees expressed support for Magill's leadership.