#corporate-governance

#corporate-governance

BP has removed its chair, Albert Manifold, with the oil company's board saying it had serious concerns about important governance standards, oversight and conduct. The FTSE 100 company announced Manifold's departure with immediate effect on Tuesday, without giving further details. He lasted only eight months in the role. BP's share price slumped by 9% in the minutes after the announcement just before lunchtime in London before recovering slightly to a6% decline, making it the FTSE's top faller.

Equity Residential and AvalonBay Communities agreed to an all-stock merger of equals that will create a $69 billion multifamily giant controlling more than 180,000 apartments across the country, the companies announced Thursday. The combined real estate investment trust will have a pro forma equity market capitalization of about $52 billion and an enterprise value of roughly $69 billion, according to the company announcement. The new entity will be headquartered in both Chicago and Arlington, Virginia, operate under a new name to be announced at closing, and maintain dual listings on the NYSE.

Lululemon has stopped saying namaste to the man who started it all. The $11 billion yoga-inspired, athleticwear company called founder Chip Wilson "misguided" and "outdated" in a shareholder letter released Monday, urging investors to reject his three board nominees ahead of the June 25 annual meeting.

“Finance to tech was a move that was never planned,” she tells Fortune. “When this role came about, I sat on it for about five to six months, trying to make up my mind on whether to start in a new area after so many years, and after retiring.”

The nationalisation of Sense Bank in 2023 was intended to serve as an example of how, in a wartime context, the state is capable of taking control of a systemically important financial asset swiftly, in a legally sound manner and with institutional accountability. However, just two years later, another question has arisen regarding the bank: has nationalisation shifted from being a tool for financial stability to a mechanism for certain individuals to bolster their political influence for their own interests, exert control over personnel appointments, and undermine corporate governance standards?

The letter added that moving forward, the company will "focus on scale" and the kinds of "innovation" that makes it a stand-out brand. Regardless of the haters, the brand, which was founded by McGowan and Hemsley in 2017 has grown to become a giant in the dessert industry. Currently, there are around 1,100 Crumbl locations across the U.S. However, the brand fell victim to mass layoffs in 2023, cutting about 10% off its corporate workforce that year.

Two press freedom groups are accusing Paramount Skydance owner Larry Ellison of promising favors to the Trump administration to win regulatory approval in its bid to take over CNN's parent company, Warner Bros. Discovery. Those favors allegedly include making sweeping staff changes at CNN, a network that President Donald Trump often bashes as fake news. The groups, Freedom of the Press Foundation and Reporters Without Borders, own shares in Paramount Skydance, and sent a letter to the company's chief legal officer Thursday demanding to see internal documents that could be related to Ellison's alleged attempt to curry favor with the White House.

When the father of your babies starts a competitive effort and will recruit out of OpenAI, there is nothing to be done.

The lawsuit, filed in March in Suffolk County Superior Court, named Demetri Tsolakis - the CEO of Xenia Greek Hospitality, which includes restaurants Krasi, Bar Vlaha, Kaia, and others - as the defendant.