“Another Chinese state-run company told employees to avoid taking Cathay Pacific Airways Ltd. flights, adding to the pressure on Hong Kong’s dominant carrier after its workers took part in anti-Beijing protests.” [Cathay CEO subsequently resigned] https://t.co/Ljcvp8a5n3 #corpgov
— Stefan Padfield (@ProfPadfield) August 16, 2019
Wilson Sonsini: “A company may create qualifications requiring that certain of its directors be female.”; “a quorum provision may also require a minimum number of female directors for all or specified board actions”; “specific female directors may be given greater voting powers” https://t.co/lgh6OF1fjf
— Stefan Padfield (@ProfPadfield) August 13, 2019
“three large financial institutions: BlackRock, Vanguard, and State Street Global Advisors…. now vote one out of every four shares of stock issued by large U.S. companies” https://t.co/pA6SKCMuKF #corpgov
— Stefan Padfield (@ProfPadfield) August 15, 2019
“although inspection of records demanded by stockholders pursuant to Section 220 is typically conditioned on a confidentiality order, or stipulation or agreement, such inspections are ‘not subject to a presumption of confidentiality'” #corpgov https://t.co/p9l7x7UX7i
— Stefan Padfield (@ProfPadfield) August 13, 2019
J.B. Heaton concludes “that there likely is no form of shareholder activism that will add real value for shareholders beyond facilitating the sale of the firm.” https://t.co/8EpiSxnc87 #corpgov
— Stefan Padfield (@ProfPadfield) August 15, 2019