In early September 2019, Dutch telecoms firm KPN announced the appointment of Dominique Leroy as new CEO, to start in December. Leroy had been in charge of Belgian telecoms company Proximus for five years but sought a new challenge. However, …
Read MoreThis blog features recent developments related to the themes of the book which occurred after the manuscript was finalised.
Smith & Nephew CEO Quits Over Low Pay; Shares Fall 9%
On 21 October 2019, Namal Nawana, the CEO of UK medical devices firm Smith & Nephew, resigned after 18 months at the helm because he wasn’t being paid enough. The stock price fell by 9% on the announcement, translating to …
Read MoreUS and UK Investor Bodies Support Simpler, Long-Term Pay Schemes
US Council of Institutional Investors Policy on Executive Pay In September 2019, the Council of Institutional Investors, an influential association of US pension funds, foundations, and endowments, overhauled its policy on executive pay. The recommendations are broadly in line with Chapter 5 …
Read MoreUK Government Study on Share Buybacks
In July 2019, the UK government’s department for Business, Energy, and Industrial Strategy published a study on the effect of share buybacks on executive pay and investment which they asked PwC and me to conduct. The full report is here and a …
Read MoreExtinction Rebellion
Extinction Rebellion has organised a series of events to highlight the urgent need to tackle climate change. These involve demonstrations, blockades, and protests. The response has been mixed. Some agree that tackling climate change is urgent, but protests are doing more …
Read MoreBusiness Roundtable Statement on the Purpose of a Corporation
In August 2019, the Business Roundtable, an organisation comprising the CEOs of major US companies, released a new statement on the Purpose of a Corporation. The statement stressed a company’s responsibility to all stakeholders, not just shareholders. In contrast, the prior statement, …
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