Corporate Governance

A Question for Tesla’s Board: What Was Elon Musk’s Mental State?

There’s no question that Elon Musk is one of the great entrepreneurs of this era. He may even be in “a class of one,” as he recently described Tesla, the revolutionary electric car company he founded. But Mr. Musk’s tweet last week — expressing his intent to take Tesla private and declaring that he had “funding secured” for the multibillion-dollar transaction — was so impulsive, potentially inaccurate, poorly worded and thought out, and with such potentially dire consequences for himself,…

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New partner at Martin LLP

Ken Zinghini Ken Zinghini has joined Stamford-based Martin LLP’s corporate practice group as a partner. He brings more than 28 years of legal experience, most recently as vice president and deputy general counsel of Loews Corp., a New York Stock Exchange-traded conglomerate holding company.   Prior to joining Loews, Zinghini was senior vice president and corporate counsel at Winstar Communications Inc., a diversified provider of telecom, internet and new and traditional media services. Prior to these in-house roles, he was…

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Tesla board seeks to rein in Elon Musk

Members of Tesla’s board are scrambling to control a chief executive who some directors think is out of control. Elon Musk, the electric-car maker’s co-founder and chief executive, stirred up a public storm by announcing on Twitter last week that he wanted to turn Tesla into a private company. In recent days, according to people familiar with the matter, some of his fellow board members delivered a stern message: stop tweeting. Mr Musk hasn’t heeded that advice. He has continued…

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No formal offer or deals for Musk’s Tesla plan

Three independent Tesla directors will decide if it’s advisable or feasible to pursue CEO Elon Musk’s plan. Tesla’s board yesterday named a special committee of three directors to decide what to do about CEO Elon Musk’s potential offer to take the electric carmaker private, although Musk has yet to make a formal offer and is still negotiating to hire advisers needed to do a deal. The board announced the move in Tesla’s first filing with regulators since Musk tweeted a…

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Pay for FTSE 100 bosses rising five times faster than workers’ pay | Business

PUBLISHED: 08:57 15 August 2018 | UPDATED: 08:57 15 August 2018 The average chief executive salary at a FTSE 100 firm in the last year was just under £4m, the CIPD and High Pay Centre report found. Picture: Supplied Archant The “shocking excess” of Britain’s boardrooms has been revealed in a report which shows company chief executives have had an 11% pay rise in the past year. Email this article to a friend To send a link to this page…

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Otabil’s statement on Capital Bank collapse ill-advised- Otu Acheampong

A Banking Consultant says parts of the statement by Board Chair of the defunct Capital Bank were “ill-advised.” Nana Otu Acheampong does not understand why Dr Mensa Otabil will include in his statement that he was not involved in the day-to-day management of the defunct bank. He said per the corporate governance guidelines any comment which is likely to absolve the Board chair of blame will be “misplaced.” His comments come hours after Dr Mensa Otabil broke his silence about…

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Group petitions parliament over collapse of banks

Business News of Wednesday, 15 August 2018 Source: citibusinessnews.com 2018-08-15 A Civil Society Group, New Era Africa (NERA) has petitioned parliament to conduct a bi-partisan public enquiry into the recent banking crisis. According to NERA, the cost of seven defunct banks in the past one year will be borne by people of Ghana, hence it will prudent for the people’s representative to probe the issues that led to the collapse of the banks. Reports suggest that the seven collapsed banks…

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OccupyGhana calls for ‘ruthless action’

Business News of Wednesday, 15 August 2018 Source: Myjoyonline.com 2018-08-15 Dr Ernest Addison, Governor of the BoG Pressure group, OccupyGhana, has called on the government to probe the collapse of seven banks and punish persons found to have breached prudential or banking regulations. “We call on the Government not only to make public the results of all investigations conducted but to ensure that the law (both civil and criminal) is made and allowed to take its course without fear or…

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Chief executive pay jumps 11% to almost £4m last year

Image copyright Thinkstock Chief executive pay rose by 11% last year to almost £4m – much higher than rises for workers, a new report found. The rise came despite criticism from investors and government about excessive salaries, the Chartered Institute of Personnel Development (CIPD) said. The highest total payout was £47.1m for Jeff Fairburn, chief executive of housebuilder Persimmon. The GMB union called the findings a “badge of national shame”. According to the CIPD, the median pay for FTSE 100…

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Cyrus Mistry case: NCLAT may pronounce interim order on August 20

Cyrus Mistry case: NCLAT may pronounce interim order on August 20 The National Company Law Appellate Tribunal (NCLAT) is likely to pronounce an interim order on August 20 on Cyrus Mistry’s plea seeking an interim stay on the proposed conversion of Tata Sons into a private company from a deemed public limited firm now. The appellate tribunal reserved its order in the matter on Tuesday after the conclusion of the arguments. It will decide at a later stage the Cyrus…

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Ban shareholders of companies from holding management positions – Andani

Managing Director of Stanbic Bank Ghana Limited Alahassan Andani has called for a new regulation, which will ban individual majority shareholders from being part of the top management of firms they have invested in. It has emerged that interference by individual majority shareholders of liquidated banks in management positions contributed to their collapse.The Bank of Ghana last year allowed GCB Bank to purchase and assume the good asset and liabilities of UT and Capital Banks due to the lack of…

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Ban shareholders of companies from holding management positions – Andani

Managing Director of Stanbic Bank Ghana Limited Alahassan Andani has called for a new regulation, which will ban individual majority shareholders from being part of the top management of firms they have invested in. It has emerged that interference by individual majority shareholders of liquidated banks in management positions contributed to their collapse.The Bank of Ghana last year allowed GCB Bank to purchase and assume the good asset and liabilities of UT and Capital Banks due to the lack of…

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Fortis shareholders approve stake sale to Malaysia’s IHH

IHH is set to take control of Fortis after its bid of up to $1.1 billion was chosen by the board, giving it ownership of over 30 hospitals. Photo: Mint Mumbai: Fortis Healthcare Ltd shareholders have approved the company’s acquisition by Malaysia’s IHH Healthcare Bhd, the company said, ending prolonged uncertainty at the hospital chain that has faced corporate governance allegations, liquidity crunch, and various attempts to secure control. The company’s chief executive Bhavdeep Singh said the development was a…

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Allentown Residents Can Find Affordable Dental Implants in Easton – Corporate Governance News Today

Allentown Residents Can Find Affordable Dental Implants in Easton – Corporate Governance News Today – EIN News Trusted News Since 1995 A service for global professionals · Tuesday, August 14, 2018 · 458,666,025 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

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Bank of Ghana plans to prosecute executives of failed banks

ACCRA, Aug 14 (Reuters) – Ghana’s central bank plans to prosecute executives of failed local lenders suspected of dissipating depositors’ funds and insider dealing, the regulator told Reuters on Tuesday. The Bank of Ghana on Aug. 1 said it had revoked the licenses of Unibank and smaller peers Royal Bank, Beige Bank, Sovereign Bank and Construction Bank, and had appointed a receiver to manage their assets because they had become insolvent. Deputy central bank governor Elsie Awadzi told Reuters the…

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