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April 07

In this edition

Governance

Companies >>

Activism >>

Standards >>

Research  >>

People >>

CSR

SRI >>

Environment >>

Health & Safety >>

Ethics >>

Features

Academic View >>

Governance

Companies

Alliance Boots accepts higher offer from deputy chairman and KKR

The board of Alliance Boots is recommending that shareholders accept a bid for the healthcare retailer from private equity giant Kohlberg Kravis Roberts (KKR), and its deputy executive chairman, Stefano Pessina, who retains a 15% shareholding in the company.

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Activism

Supreme Court holds investor rights in balance

The US Supreme Court’s hearing of Makor v Tellabs – which will test the standard investors must meet to get allegations of securities fraud to court – could result in “nearly insurmountable” barriers to investors recouping fraud losses should the decision favour the defendants, public pension advocate NCPERS and lawyers’ group NASCAT warned. More >>

Standards & Guidance

US House committee passes bill giving shareholders a vote on pay

The House of Representatives’ Financial Services Committee has passed legislation that would require US public companies to give shareholders an advisory vote on their executive pay plans. The proposed law will now be considered by the full House.

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Research

Females worldwide still struggling to get into senior management

A survey of 7,200 companies in 32 countries has found that 38% of businesses do not have any women in senior management, a figure which has remained unchanged since 2004, according to Grant Thornton International, which carried out the research.
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People

Briefs .....

Oil giant Royal Dutch Shell has extended the term of its chief executive, Jeroen van der Veer, until 30 June 2009. Van der Veer became the company’s first chief executive upon the 2005 unification of Shell and Royal Dutch.

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Academic Round up

Manifest-I presents a summary of recently released academic papers on international corporate governance issues.

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Conferences

Topical governance and CSR-related conferences.

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Corporate Social Responsibility

Socially responsible investment

Broad coalition calls for climate change policy in the US

Some of the world’s largest institutional investors,  have thrown their weight behind a call for the US - sent to President George Bush and members of Congress - to adopt a mandatory national policy for greenhouse gas reductions across the economy.  More >>

Environment

UK's climate change bill splits business and environmental groups

The UK government’s climate change bill split business and environmental groups, with the former praising it as a balanced step forward and the latter damning it as unambitious. More >>

Health & Safety

BP failures ran deep in organisation, CSB concludes

Organisational and safety deficiencies stretching through all levels of BP led to the 2005 explosion at the oil giant’s Texas City refinery that killed 15 people, a two year investigation by the US Chemical Safety and Hazard Investigation Board (CSB) has concluded.

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Best Practice & Ethics

Companies failing children by violating corporate responsibility codes

Leading companies are failing millions of children by violating voluntary corporate responsibility codes, which by themselves are proving wholly inadequate as a means of improving children’s lives, a report by Save the Children and The Corporate Responsibility (CORE) Coalition has found. More >>

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