Novo Nordisk Chair and Directors Resign Following Shareholder Dispute
Novo Nordisk's chair and six directors have resigned following a dispute with a shareholder, highlighting tensions within the company's leadership and governance.
Tag
Shareholder Dispute
All articles tagged with #shareholder dispute
Tesla's Legal Battle Over Elon Musk's $56 Billion Pay Package
The Delaware Supreme Court is set to hear a case challenging Tesla CEO Elon Musk's record-breaking compensation package, which could be worth over $100 billion, amid ongoing legal disputes over its approval and influence, with broader implications for corporate governance and state laws.
"Byju's CEO Ousted by Shareholders in Controversial Vote"
Byju Raveendran, founder of Byju’s, asserts he remains the CEO despite a shareholder group's vote to remove him, citing violations of local rules. The group, including Prosus Ventures and Peak XV Ventures, seeks governance changes and a leadership shift. Raveendran claims the meeting lacked quorum and majority support, and the startup, in need of funding, launched a rights issue. He believes the company's comeback is inevitable and accuses minority shareholders of spreading misinformation.
Gildan Activewear Faces Turmoil as Shareholders Battle Over Leadership
Activist investors at Gildan Activewear have successfully pushed for a special meeting to potentially reinstate the company's fired CEO, Glenn Chamandy, who was ousted in December. The board's decision to call the meeting comes after pressure from investment firm Browning West, which has garnered support from other major shareholders. The dispute revolves around allegations of Chamandy's distractions and the board's growth strategy, with the activist investors advocating for his reinstatement due to his past success in the competitive activewear industry. Gildan has challenged the legality of Browning West's increased ownership position and sought to nullify the meeting, but the shareholder dispute continues.
Elon Musk's Ultimatum: More Tesla Shares or No AI
Elon Musk demands another 12% of Tesla shares to reach 25% ownership, threatening to halt AI and robotics development if not granted, while expressing a preference to build products outside of Tesla. Musk also seeks a dual-class voting structure similar to Facebook's, but this would be illegal post-IPO. The CEO's controversial behavior, including alleged drug problems and diversion of resources to his social media network and SpaceX, has raised concerns among investors, as Tesla's value has dropped and profit margins have shrunk.