Boards & Shareholders


Hiltrud Werner index

Volkswagen integrity head Hiltrud Werner to depart in board reshuffle

2021-12-09T22:31:00+00:00By

Hiltrud Werner, board member responsible for integrity and legal affairs at Volkswagen and a key figure in the Dieselgate monitorship, will leave the German automaker on Feb. 1, 2022, as part of a series of managerial changes.

UBS

UBS Switzerland CCO nominated to become board chairman

2021-12-06T21:06:00+00:00By

Markus Ronner, the group chief compliance and governance officer for UBS Switzerland AG, will be nominated to become chairman of the board at the bank’s annual meeting in April 2022.

London cityscape

U.K. Corporate Governance Code gaps remain despite reporting improvements

2021-11-29T19:59:00+00:00By

U.K. companies have improved corporate reporting—particularly on environmental and social issues—despite more instances of noncompliance with the Corporate Governance Code, according to the Financial Reporting Council’s latest review.

Climate change ideas

OCC acting head: 5 climate questions bank boards should be asking

2021-11-08T20:57:00+00:00By

Michael Hsu, acting head of the Office of the Comptroller of the Currency, explores the role of bank boards to promote improvements in climate risk management practices at their banks.

AuditTransparency

EY report: Fortune 100 companies boost audit transparency, including on ESG

2021-10-26T20:13:00+01:00By

Many Fortune 100 companies continue to enhance their transparency about how their audit committees are executing their core responsibilities, according to the EY Center for Board Matters’ 10th annual review of voluntary proxy statement disclosures.

Data presentation

Compliance tips for effectively presenting data to key stakeholders

2021-10-20T16:52:00+01:00By

Metrics can either strengthen or distract from compliance’s message to key stakeholders. Jennifer Lee, a risk and compliance manager at Caterpillar, shared tips for accomplishing the former at a recent industry event.

Remote oversight

Anti-corruption leaders share upsides of remote compliance program

2021-09-23T17:05:00+01:00By

COVID-19 has altered how companies operate their anti-corruption compliance programs, but not necessarily for the worse, according to experts from PepsiCo and Cook Group who shared their experiences at a recent Diligent virtual summit.

ESG

ESG survey: Measure, monitor, and enhance your strategy

2021-09-22T18:01:00+01:00By

A Compliance Week and Fulcrum survey of more than 200 compliance, audit, legal, and finance executives worldwide revealed support for ESG initiatives, but uncertainty about how to monitor progress and measure results.

Credit Suisse

Rebuilding Credit Suisse nominates risk management veterans to board

2021-08-17T17:27:00+01:00By

In a continuing overhaul of its risk and compliance leadership, Credit Suisse announced the nominations of Axel Lehmann and Juan Colombas to serve as non-executive members of its board.

Boardroom

LRN survey: E&C programs thrive when boards are engaged

2021-08-11T15:39:00+01:00By

The more boards are engaged in measures of ethics and compliance, the more positive an impact on corporate culture, leadership, and business decisions, a new report from LRN finds.

Nasdaq

SEC approval of Nasdaq board diversity proposal adds to nationwide momentum

2021-08-10T16:16:00+01:00By

The SEC approved rule changes proposed by Nasdaq that will put in place a new board diversity mandate and further require companies listed on Nasdaq’s U.S. exchange to make public disclosures regarding the composition of their boards.

Board table

Are compliance officers good board material?

2021-06-23T19:36:00+01:00By Jonathan Dempsey, Red Laces, for International Compliance Association

Compliance is perfectly primed to adapt, with the ability to influence change in culture as part of integrated and innovative approaches to risk management. Does that translate to the board level?

Exxon

Activist investor win at ExxonMobil should be wake-up call for companies

2021-06-14T20:22:00+01:00By

The growing scope and influence surrounding environmental activist campaigns promises to spill well beyond 2021. Recent developments should inspire boards to reassess how their company’s environmental initiatives align with long-term shareholder value.

VWcrop

Volkswagen secures $21.7M in executive clawbacks for Dieselgate roles

2021-06-10T20:19:00+01:00By

Volkswagen’s supervisory board announced agreements to recover €17.8 million (U.S. $21.7 million) in compensation from former executives and board members for their respective roles in the Dieselgate emissions scandal.

Coronavirus look ahead

‘Cost of Compliance’ survey reflects post-COVID landscape

2021-06-07T20:02:00+01:00By

A year removed from the start of the pandemic, the long-term effects the shift in work culture will have on the compliance profession have become more apparent. The “Cost of Compliance Report 2021” by Thomson Reuters reflects these changes.

Board table

SEC pauses proxy voting rule enforcement amid review

2021-06-03T21:10:00+01:00By

SEC Chairman Gary Gensler announced he is directing staff to consider whether to recommend further regulatory action regarding proxy voting advice, leading the agency to pause related enforcement activity.

John Flint

Elevating compliance key for financial services, says former HSBC head

2021-05-07T15:14:00+01:00By James Thomas, International Compliance Association

John Flint, former group chief executive at HSBC, considered the progress compliance has made over the last 20 years and the strides the profession must continue to make as part of a keynote at the ICA’s 2021 BIG Compliance Festival.

Credit Suisse

Credit Suisse risk committee head to depart amid board reshuffle

2021-05-03T20:28:00+01:00By

Andreas Gottschling, Credit Suisse’s board member in charge of its risk committee, has stepped down as fallout from the collapses of Archegos Capital and Greensill Capital continues to roil the bank.

Credit Suisse

Credit Suisse’s governance rebound a tall task after ‘unacceptable’ losses

2021-04-22T18:41:00+01:00By

Putting the collapses of Archegos Capital and Greensill Capital behind it won’t be simple for Credit Suisse amid staggering financial losses and widening scrutiny from Switzerland’s financial regulator.

Data money

Fines key attention to data privacy from boards, says ICO head

2021-04-21T15:04:00+01:00By

The threat of fines has done more to focus boardroom attention on data privacy and effective cyber-security than any other measure, U.K. Information Commissioner Elizabeth Denham believes.

Board

COVID-19 effects apparent in board composition changes

2021-04-19T18:47:00+01:00By

The enduring impact of the COVID-19 pandemic might be forcing companies and other organizations to rethink what skills, qualities, and experience their executives should have if the business is to succeed.

Danske

Danske Bank CEO, board member resign amid ABN AMRO probe

2021-04-19T16:58:00+01:00By

Danske Bank CEO Chris Vogelzang and board member Gerrit Zalm each resigned after being identified as suspects in ABN AMRO’s money laundering scandal. Chief Risk Officer Carsten Egeriis will take over as Danske’s CEO.

Volkswagen

Volkswagen to seek damages from former CEOs over Dieselgate

2021-03-29T20:40:00+01:00By

Volkswagen’s supervisory board has accused former CEOs Martin Winterkorn (Volkswagen) and Rupert Stadler (Audi) of negligent breaches of duty during the diesel scandal.

Tesla

Tesla braces for investor lawsuit with senior compliance appointment

2021-03-23T20:02:00+00:00By

Tesla in February appointed David Searle as deputy general counsel and senior director of compliance. The electric car maker is currently facing an investor lawsuit criticizing its board for failing to appoint a general counsel to control CEO Elon Musk.

Boardroom

Board members named to California’s first-in-the-nation data privacy board

2021-03-19T16:48:00+00:00By

The California Privacy Protection Agency, tasked with enforcing the state’s groundbreaking data privacy laws, now has a five-member board of directors.

Nailedit1200x800

Video: Lawsuit calls out Tesla general counsel carousel

2021-03-18T19:18:00+00:00By Compliance Week

Aly McDevitt praises several German companies for taking initiative ahead of an impending law mandating female representation on boards, while Kyle Brasseur reviews a shareholder lawsuit that criticizes Tesla’s instability at the general counsel position.

Board table

Study: Racial diversity still lacking among Russell 3000 board members

2021-03-15T18:44:00+00:00By

A new board diversity report by BoardProspects reveals companies in the Russell 3000 are at a major inflection point regarding racial equality on their boards, but most (60 percent) still have no Black board members.

Diversity

Four ways you can support diversity and inclusion at your company

2021-03-10T16:51:00+00:00By

Diversity and inclusion leaders from Procter & Gamble and The Hartford share key elements for successfully achieving and sustaining a work environment that respects and fosters diversity, equity, and inclusion.

Boss

Are CEOs really the best people to set the compliance example?

2021-02-18T16:14:00+00:00By

After a bad week for motivational leadership in the United Kingdom, experts expound on who should really set “tone from the top.”

SayOnPay

A critical look at pandemic-related executive compensation changes

2021-02-17T15:05:00+00:00By

With 2021 proxy season underway, a new analysis by Compensation Advisory Partners reveals what impact proxy advisory firm Institutional Shareholder Services will have on say-on-pay concerning executive compensation actions made in response to the pandemic.

2021

Survey: Pandemic pervades executives’ top 10 risks for 2021

2021-02-05T17:39:00+00:00By

The aftermath of the coronavirus pandemic dominates the top risks that will keep boards of directors and executive management teams on their toes in 2021, a new survey by Protiviti and NC State’s ERM Initiative finds.