Stuntz $18.1 billion defense contractor Raytheon recently named Linda Stuntz, former deputy secretary of the U.S. Department of Energy, to its board of directors. Stuntz is a principal in the law practice of Stuntz, Davis & Staffier, specializing in energy and environmental issues, as well as matters relating to government support of technology development and […]
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Posted inRegulatory Enforcement
SOX May Not Be Having Impact On Class Action Filings
Though 2003 brought three of the largest shareholder class action settlements of all time, researchers at NERA Economic Consulting have found that Sarbanes-Oxley has had “no statistically significant impact” on class action filings, settlement values or recovery rates. Buckberg According to the research, led by Dr. Elaine Buckberg, all those key metrics have remained flat […]
Posted inFrom the Archive
Xerox Executive Joins Board Of American Express
Burns $25.8 billion American Express recently announced that Ursula Burns, senior corporate vice president of business group operations with Xerox, has been elected to its board of directors. Named by Fortune magazine as one of America’s “most powerful black executives” in 2002, Burns has been with $15.7 billion Xerox since 1980 in a variety of […]
Posted inRegulatory Enforcement
First Whistleblower Regains Job Under Sarbanes-Oxley
The chief financial officer of a puny bank in a rural Virginia town appears to be the first individual to get back his job under the new whistleblower rules mandated by the Sarbanes-Oxley Act. On Jan. 28, Stephen L. Purcell, Administrative Law Judge for the Department of Labor, published an order that David Welch be […]
Posted inFrom the Archive
Former HUD General Counsel Joins $15.8b Exelon Board
Diaz The Hon. Nelson Diaz, former city solicitor of Philadelphia, was recently elected to the board of Exelon, a $15.8 billion energy concern. Diaz, who served as Philadelphia’s solicitor from December 2001 until his resignation last month, had previously been a partner with the law firm Blank Rome Comisky & McCauley. He also was appointed […]
Posted inBoards & Shareholders
House Subcommittee Hears Views On Noisy Withdrawal
TESTIMONY CarrAmerica General Coun-sel Linda Madrid (ACCA) Palmer & Dodge Senior Partner Stanley Keller University of Illinois Law Professor Richard Painter More: Piper Rudnick’s Peter Moser; Other Testimony Aast week, the U.S. House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises—which oversees the securities industry and the SEC—held a hearing on the SEC’s “noisy […]
Posted inFrom the Archive
Former Washington Post Editorial Writer On Fluor Board
Woolsey Former National Academies chief communications officer Suzanne Woolsey was recently named to the board of directors at Fluor Corporation, an engineering and construction management company. Prior to her 15-year service at National Academies, which advises the nation on science, engineering and medicine, Woolsey was a consulting partner for Coopers & Lybrand, and an editorial […]
Posted inEthics & Culture
Former Proctor & Gamble CEO Wins ’03 Ethics Award
Pepper The Ethics Resource Center recently announced that John E. Pepper is the winner of its 2003 Stanley C. Pace Leadership in Ethics Award. Pepper, who served as Proctor & Gamble’s chairman and CEO, retired in 2002 after 38 years with the $43.4 billion household products giant. According to ERC founding chairman Norman Augustine, “There […]
Posted inFrom the Archive
$8.5 Billion Cadbury Schweppes Appoints New CFO
Hanna UK-based confectionery and beverages company Cadbury Schweppes recently named Ken Hanna as CFO and executive director. He is currently an operating partner at Compass Partners International, a private equity firm. Hanna, who replaces the retiring David Kappler, has held a string of financial positions at companies including Coopers & Lybrand, Black & Decker, and […]
Posted inInternal Controls
23 Internal Control Disclosures In January
According to a review of regulatory filings during the first month of 2004, 23 companies disclosed material weaknesses or significant deficiencies in internal controls. That number is nearly double the 14 similar disclosures made during the prior month of December 2003. Eleven companies made such disclosures in November 2003. (See box at right for prior […]
