After struggling for a number of years with product recalls and other negative headlines, J&J appeared to take a major step forward during 2013 through two major legal settlements.
When Coca-Cola Company’s say-on-pay resolution received 77% support at the 2013 annual meeting—a noticeable decline from 96% approval in 2012—the compensation committee set out to gain input from its large shareholders and address their concerns. But one shareholder in particular was not convinced that the board had the best interests of Coke shareholders in mind when it designed its proposed 2014 Equity Plan.
Parmalat just can’t get away from past scandals, which have left the company yet again under fire. After a decade-old corporate scandal involving fraudulent accounting using nonexistent offshore accounts, prison sentences for former top executives were recently upheld by a court ruling, drawing renewed attention to Parmalat’s board. More recently, the board has been under fire for its decision to overpay for the acquisition of Lactalis America Group at the expense of minority shareholders.