Proxy access: when shareholders nominate directors
THOUGH directors are elected by shareholders, the nominations for their election are usually made by the board of directors following an internal nomination process that often includes a nominating committee-led search for suitable candidates.
However, a view is emerging, especially in the US, that this process does not result in the best set of directors, and that some boards acting out of self-interest can entrench themselves.
US developments
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone