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Proxy Season Insider: Teva Pharmaceutical Industries Ltd.


Teva Pharmaceuticals’ upcoming annual meeting will be rocked by an unprecedented “vote No” campaign from two individual dissident shareholders who describe themselves as unintentional activists. The dissidents are encouraging other shareholders to oppose the re-election of a director nominee and the approval of a directors’ and officers’ liability insurance policy.

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Proxy Season Insider: Banco Espírito Santo


Banco Espírito Santo was unexpectedly thrust into the spotlight earlier this week when it sparked a steep but short-lived decline in global stock markets. Shareholders will be carefully watching the Company’s next moves, including the likely contentious upcoming general meeting called at the request of the largest shareholder, the Espírito Santo family, to reorganize the board and management. Considering that the Company’s problems stem from poor corporate governance and risk management practices by the Espírito Santos within their opaque business empire, the proposals will be highly scrutinized.

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Proxy Season Insider: Kansai Electric Power Co.


Shareholders of Kansai Electric Power Co., Inc. (“KEPCO”) will vote on 25 shareholder proposals on Thursday – but it could have been worse.

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Proxy Season Insider: Mizuho Financial Group Inc.


The Mizuho Financial Group has faced significant criticism on account of recent scandals, including a major system meltdown in 2011, a $127.5 million settlement for charges against Mizuho Securities USA brought by the U.S. Securities Exchange Commission and inappropriate business transactions with an anti-social organization in 2012. In response to these recent scandals, Mizuho has made a number of corporate governance reforms that are rarely seen in Japanese companies.

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Proxy Season Insider: Nokia


After several years of disappointing results and shrinking market share in the competitive mobile phones business, Nokia shareholders were granted a reprieve when the company agreed to the sale of its devices and services business to Microsoft, which was approved by shareholders at an April EGM. The recently completed deal turned out to be an emotional one not only for Nokia’s shareholders, who saw the value of the share collapse during CEO Stephen Elop’s tenure, but also for Finland as a nation.