All articles tagged with #shareholder proposal
Norway’s $2 trillion wealth fund plans to vote in favor of a shareholder proposal at Microsoft’s upcoming AGM, demanding a report on risks related to human rights concerns in operating countries, and will oppose CEO Satya Nadella’s re-election and pay package, reflecting its significant stake in the company.
Tesla proposes an unprecedented $1 trillion stock award for Elon Musk, which has sparked controversy due to its size, marketing efforts to promote it, and concerns over corporate governance and shareholder dilution, raising questions about Musk's performance and the company's priorities.
An investor and climate advocate has proposed that Tesla adopt a policy of political neutrality to prevent political statements by its leaders from affecting the company's reputation and sales, especially amid concerns about Elon Musk's political activities. The Tesla board opposes the proposal, citing enforcement challenges, while many retail investors are increasingly questioning Musk's political involvement and its impact on Tesla's market performance, particularly in politically sensitive regions like California.
A federal judge in Texas has ruled that Exxon Mobil can proceed with a lawsuit against activist investor Arjuna Capital over a climate change proposal, while dismissing a similar claim against Netherlands-based Follow This. The case centers on a proposal to accelerate carbon dioxide emissions reductions, which Exxon argues could be refiled in the future. The judge supported Exxon's stance, citing distrust of the activist investors' intentions.
Goldman Sachs reported a 28% increase in profits in the first quarter, driven by a surge in investment banking revenues and a rise in asset and wealth management revenues. CEO David Solomon faces pressure from shareholder proposals to split the CEO and chairman roles and to limit executive pay, despite his 2023 compensation rising 24% to $31 million. The improved results come after a challenging year for Solomon, marked by a costly exit from consumer banking and high-profile departures from the firm. Key executives continue to depart, raising questions about the race to succeed Solomon, while the board of Goldman also undergoes changes.
Exxon Mobil is continuing its lawsuit against activist investors despite their withdrawal of a shareholder proposal on climate change, sparking a clash over the boundaries of legitimate debate between a public company and its owners. The lawsuit questions the motivations of the investors and seeks to block the shareholder measure from being voted on at its annual meeting, drawing concern from investor activists and setting a potential precedent for similar claims. Exxon's unusual legal action has been closely watched, with the company arguing that the proposals do not serve investors' interests, while the investors accuse Exxon of intimidation and bullying to silence them.
Exxon Mobil has filed a lawsuit in a Texas court to prevent activist investors from bringing a climate proposal up for a vote during the company’s shareholder meeting in May, marking the first time the company has taken such action. The lawsuit seeks to block the proposal, which calls for the adoption of tighter climate targets, from being included in the company’s proxy statement. Exxon argues that the repeated proposals don’t serve the best interests of investors, while the activists believe that setting Paris-aligned medium-term targets would be in shareholders’ best interest.
ExxonMobil is suing activist investor groups in federal court over a shareholder proposal that would require the company to take responsibility for the greenhouse gas emissions produced by its products' end users. The lawsuit comes after years of similar proposals being voted down by shareholders, and ExxonMobil argues that the groups' climate goals prioritize over its ability to make money. The activist investor groups, however, believe that time is running out to address climate change and are prepared to fight for emissions reduction targets.
Exxon Mobil is suing activist investors to prevent a shareholder proposal calling for emissions cuts from coming to a vote, accusing them of abusing the process and prioritizing their own agenda. The company argues that the proposal does not seek to improve its economic performance or create shareholder value, and plans to exclude it from the ballot for its annual meeting in May. The lawsuit reflects a broader backlash against E.S.G. initiatives, with some companies and investors distancing themselves from environmental, social, and governance measures.