Indianapolis software firm OnBoard names new CEO
Indianapolis-based software company OnBoard has hired Marc Huffman, a 25-year industry veteran, to lead the company, succeeding founding CEO Paroon Chadha.
Corporate boards
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Herbert Simon retires from role on Simon Property Group board
Herbert Simon, 90, partnered with his brother, Melvin Simon, in 1960 to launch real estate company Melvin Simon & Associates.
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Elanco digs in for fight with activist investor
Ancora Holdings Inc. is pushing for a shakeup in leadership at he Greenfield-based animal health company, which it accuses of delivering poor margins, sluggish product commercialization, negative shareholder returns and poor governance policies.
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Investor drops lawsuit against Noble Roman’s
North Dakota-based restaurant company BT Brands, which dropped its lawsuit against Noble Roman’s late last week, said it will continue in its efforts to effect changes to the Noble Roman’s board of directors.
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Cummins CEO Jennifer Rumsey to become company’s board chair
Rumsey will take over as Cummins board chair on Aug. 1, after former CEO Tom Linebarger steps down from the position.
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Articles
Elanco reaches agreement with activist investor, avoiding messy proxy fight
The Greenfield-based maker of animal vaccines, antibiotics and other health products said that as part of the agreement with Ancora Holding Inc., it will appoint two new independent directors supported by the investment firm to its board.
Musk cannot keep Tesla pay package worth more than $55B, judge rules
The ruling comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company for unjust enrichment.
Noble Roman’s CEO to remain on company’s board for now
A major shareholder of the Indianapolis-based company had been attempting to get its own CEO elected to the board instead.
Amid proxy war, Noble Roman’s delays shareholders meeting
Indianapolis-based Noble Roman’s s in a heated battle with one of its biggest shareholders over whether CEO Scott Mobley should remain on the restaurant company’s board of directors.
Noble Roman’s sparring with investor over proposed leadership shake-up
West Fargo, North Dakota-based restaurant operator BT Brands Inc. filed a proxy statement this month asking shareholders to vote for its own CEO, Gary Copperud, rather than reelect Noble Roman’s CEO Scott Mobley to the five-member Noble Roman’s board.
In ninth try, Eli Lilly asks shareholders to end staggered terms for board members
The Weinberg Center for Corporate Governance at the University of Delaware, a leading voice for responsible corporate leadership, has generally supported the elimination of staggered terms, saying they can lead to entrenched boards and management that fails to perform.
Judge: California’s women-on-boards law is unconstitutional
The decision comes just over a month after another Los Angeles judge found that a California law mandating that corporations diversify their boards with members from certain racial, ethnic or LGBT groups was unconstitutional.
Cummins shareholders reject splitting CEO, board chair duties
Had the proposal been approved, Cummins CEO Tom Linebarger would have been stripped of the chairmanship.
Kohl’s shareholders reject board nominees pushed by activist that urges sale
The department store said Wednesday that shareholders have voted to re-elect all 13 of its director nominees, according to a preliminary tally at its shareholders’ meeting.
As diversity rises, U.S. boards still disproportionately white
More companies are being transparent about the racial breakdown for their board of directors. A big reason for that is because they’re being forced to, with pressure coming from stock exchanges, regulators and investors.
Tesla CEO Elon Musk won’t join Twitter’s board after all
While Musk has been one of Twitter’s loudest critics, the sudden withdrawal from the board, which became official Saturday, could signal that relations between Musk and Twitter will become more acrimonious.
Elon Musk to join Twitter’s board after becoming largest shareholder
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
Cummins shareholders to vote on splitting CEO, board chair positions
An unnamed Cummins shareholder is proposing that the company separate its CEO and board chair roles, which are both held by Tom Linebarger. Cummins is recommending that shareholders vote against this proposal.
California faces challenge to law requiring women on corporate boards
A judge will begin hearing evidence Wednesday that could undo the law credited with giving more women seats in boardrooms traditionally dominated by men. The California law has spurred other states to adopt or consider similar laws.
Simon Property reversing pandemic-related executive pay cuts
Indianapolis-based shopping mall giant Simon Property Group will reinstate the pay of executives and board members who had been working under pandemic-related pay cuts since spring, the company announced Monday.
Local firm gets ‘overwhelming’ response to coronavirus-inspired software giveaway
Passageways announced it would make its employee and board collaboration software free to aid not-for-profit organizations and government agencies challenged by the coronavirus pandemic. This week, Passageways expanded the offer to Indiana Chamber of Commerce members.
California becomes first state to require women on corporate boards
The California Chamber of Commerce said the policy will be difficult for companies to implement and violates constitutional prohibitions against discrimination.
Short-time CFO altered course at Marsh Supermarkets
John Elbin forced the ailing grocery chain to confront its problems during his five months with the company.
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