MONTREAL – Rona Inc. is paying its former chief executive officer a $4.5-million severance after repudiating his growth-at-all-cost strategy that resulted in six straight years of earnings declines.
Canada’s largest independent home improvement chain dismissed Robert Dutton on Nov. 8, 2012 after large shareholders fed up with the company’s anemic return on capital pressed the board to make a management change.
CALGARY — Former cabinet minister Jim Prentice has joined Canadian Pacific Railway’s board of directors.
The Calgary-based railway says the appointment is effective as of Friday.
During his time in government, Prentice was in charge of the Environment, Industry and Indian Affairs and Northern Development portfolios.
He’s currently senior executive vice-president and vice chairman at the Canadian Imperial Bank of Commerce and serves on the boards of Bell Canada and Coril Holdings Ltd.
Editor’s Note: The following post comes to us from David Denis, Professor of Finance at the Katz School of Business, University of Pittsburgh; Diane Denis, Professor of Finance at the Katz School of Business, University of Pittsburgh; and
By Yale Bock:USA Technologies (USAT) is in the middle of a proxy contest to control the board of directors of the company. The company is a leading provider of cashless payment solutions (payment processing) and other products, primarily to the vending industry. The dispute is between the current management team, led by CEO Stever Herbert, and a group led by shareholder advocate Bradley Tirpak, called Shareholder Advocates for Value Enhancement (S.A.V.E.).
The trend is definitely negative for the support enjoyed by directors at CIBC, the smallest of the country’s Big Five banks, which held its annual meeting in Ottawa on Thursday.
The trend is based on comparing the percentage of withheld votes at the 2013 annual meeting with the 2012 annual meeting: more shareholders are upset with the nominees and are showing it.
By F.A.S.T. Graphs:This article analyzes Buckle (BKE) through the lens of FAST Graphs. Buckle announced at its quarterly meeting of the board of directors, held on Sept. 17, 2012, that it authorized a $0.20 per share quarterly dividend to be paid to shareholders of record at the close of business on Oct. 15, 2012, with a payment date of Oct. 26, 2012.
This is not Bill Ackman day. After getting creamed on JCP, here comes Icahn to make sure Ackman never forgets the day the DJIA is set to rehit all time highs. HERBALIFE SAYS ICAHN CAN BOOST POSITION UP TO 25% OF COMPANY HERBALIFE TO NOMINATE TWO ICAHN REPRESENTATIVES TO BOARD HLF stock halted, then unhalted and, not unexpectedly, up. For those curious, here are are Ackman's top positions: