Ancora Holdings Inc. is pushing for a shakeup in leadership at he Greenfield-based animal health company, which it accuses of delivering poor margins, sluggish product commercialization, negative shareholder returns and poor governance policies.
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North Dakota-based restaurant company BT Brands, which dropped its lawsuit against Noble Roman’s late last week, said it will continue in its efforts to effect changes to the Noble Roman’s board of directors.
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Rumsey will take over as Cummins board chair on Aug. 1, after former CEO Tom Linebarger steps down from the position.
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Indianapolis-based Noble Roman’s s in a heated battle with one of its biggest shareholders over whether CEO Scott Mobley should remain on the restaurant company’s board of directors.
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The Greenfield-based maker of animal vaccines, antibiotics and other health products said that as part of the agreement with Ancora Holding Inc., it will appoint two new independent directors supported by the investment firm to its board.
The ruling comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company for unjust enrichment.
A major shareholder of the Indianapolis-based company had been attempting to get its own CEO elected to the board instead.
West Fargo, North Dakota-based restaurant operator BT Brands Inc. filed a proxy statement this month asking shareholders to vote for its own CEO, Gary Copperud, rather than reelect Noble Roman’s CEO Scott Mobley to the five-member Noble Roman’s board.
The Weinberg Center for Corporate Governance at the University of Delaware, a leading voice for responsible corporate leadership, has generally supported the elimination of staggered terms, saying they can lead to entrenched boards and management that fails to perform.
The decision comes just over a month after another Los Angeles judge found that a California law mandating that corporations diversify their boards with members from certain racial, ethnic or LGBT groups was unconstitutional.
Had the proposal been approved, Cummins CEO Tom Linebarger would have been stripped of the chairmanship.
The department store said Wednesday that shareholders have voted to re-elect all 13 of its director nominees, according to a preliminary tally at its shareholders’ meeting.
More companies are being transparent about the racial breakdown for their board of directors. A big reason for that is because they’re being forced to, with pressure coming from stock exchanges, regulators and investors.
While Musk has been one of Twitter’s loudest critics, the sudden withdrawal from the board, which became official Saturday, could signal that relations between Musk and Twitter will become more acrimonious.
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
An unnamed Cummins shareholder is proposing that the company separate its CEO and board chair roles, which are both held by Tom Linebarger. Cummins is recommending that shareholders vote against this proposal.
A judge will begin hearing evidence Wednesday that could undo the law credited with giving more women seats in boardrooms traditionally dominated by men. The California law has spurred other states to adopt or consider similar laws.
Indianapolis-based shopping mall giant Simon Property Group will reinstate the pay of executives and board members who had been working under pandemic-related pay cuts since spring, the company announced Monday.
Passageways announced it would make its employee and board collaboration software free to aid not-for-profit organizations and government agencies challenged by the coronavirus pandemic. This week, Passageways expanded the offer to Indiana Chamber of Commerce members.
The California Chamber of Commerce said the policy will be difficult for companies to implement and violates constitutional prohibitions against discrimination.
John Elbin forced the ailing grocery chain to confront its problems during his five months with the company.
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Corporate boards need more women, but not people such as Susan Bayh, wife of Sen. Evan Bayh. It’s not
that she isn’t up to the task. The former attorney at Eli Lilly and Co. and visiting professor at Butler University
is by all accounts capable. So we’re not surprised she regularly receives invitations to serve on boards. But
we are surprised she accepts.
West Lafayette-based life sciences contract research firm Bioanalytical Systems Inc. has five directors on its board. If company
founder Pete Kissinger has his way, four of them will soon be replaced.
