Category: Corporate governance

Occidental split foreshadows $100 billion breakup wave

Occidental Petroleum Corp. (OXY)’s proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, as the allure of breakups to create more than $100 billion of market value entices investors.  More »

Nabors board rejects 2 director resignations after vote

Shareholders also rejected a proposal to separate Tony Petrello’s dual role of chairman and chief executive officer.  More »

Private Sector Moving on Climate Change

  Yesterday, the Cooperative Institute for Climate and Satellites (CICS), in partnership with NOAA’s National Climate Data Center, took a major step in trying to transmit data on a changing climate to a high level business audience. (Pictured above, representatives from CICS, Duke Energy (including Heath Shuler), and the Center for Law Environment, Adaptation and […]  More »

Shareholders slam Exxon on climate, discrimination concerns

On the heels of a major pipeline spill, a deadly refinery fire, and a high-profile discrimination lawsuit, Exxon Mobil held its annual shareholders meeting at 9 a.m. Wednesday in Dallas. FuelFix energy reporter Zain Shauk covered the event live as shareholders challenged the energy giant on climate change and other contentious issues.  More »

Why Chesapeake picked Anadarko executive as new CEO

Chesapeake Energy Corp. (CHK) is hiring an Anadarko Petroleum Corp. (APC) engineer who oversaw oil projects around the world to slash costs and transform a corporate culture forged by Chesapeake’s wildcatting co-founder.  More »

Chesapeake names Anadarko executive as new CEO

Chesapeake Energy has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO.  More »

Apache CEO compensation target reduced

The target bonus for Chief Executive Officer Steve Farris was reduced to 150 percent of base salary from 200 percent, the Houston-based company said in a regulatory filing Friday.  More »

Transocean shareholders oust chairman,but reject Icahn dividend proposal

Transocean shareholders Friday rejected billionaire investor Carl Icahn’s proposal for a $4-a-share dividend, a spokesman says.  More »

Apache investors reject executive pay raise in advisory vote

Apache shareholders voted down a proposal to raise executive pay during a shareholders meeting on Thursday in Houston, a visible rebuke to top management for the sagging stock price and concerns about investment in Egypt.  More »

Hess ends proxy fight by agreeing to add 3 board members

Hess Corp. reached an agreement with billionaire Paul Singer’s Elliott Management Corp. to end a four-month proxy battle, adding three of five board members nominated by the activist shareholder.  More »

Transocean to see a dust-up at its annual meeting

Annual meetings are usually bland affairs for public companies – some shareholders show up, the rest vote on a few proposals by proxy if at all, and executives get on their jets or in their sedans and take off, sometimes before the coffee gets cold.  More »

Anadarko’s Walker named chairman as Hackett’s reign ends

As Anadarko Petroleum Corp. (APC) Chairman Jim Hackett steps down and heads off to Harvard Divinity School, Chief Executive Officer Al Walker’s biggest challenge is convincing investors nothing will change at the $45 billion global oil explorer.  More »