Shareholder rebellion occurs when the owners of a corporation work to throw out management or oppose their decisions. Shareholder rebellion may occur at a annual general meeting or through a proxy battle. Shareholders may also threaten to collapse a firm's stock price through concentrated selling.In 1998, the Rockefeller family led a shareholder revolt against Exxon over its climate change policy. In 2005, Michael Eisner retired after Walt Disney's nephew, Roy Disney, led a shareholder revolt, claiming Eisner was a micromanager who had caused a creative brain drain. In 2010, British Petroleum and Shell faced a shareholder revolt over their Canadian tar sands policy.
An annual general meeting is a meeting of the general membership of an organization.
The Rockefeller family is an American industrial, political, and banking family that owns one of the world's largest fortunes. The fortune was initially made in the US petroleum industry during the late 19th and early 20th centuries by John D. Rockefeller and his brother William Rockefeller, primarily through Standard Oil. The family is also known for its long association with, and control of, Chase Manhattan Bank. They are considered to be one of the most powerful families, if not the most powerful family, in the history of the United States.
Exxon was the brand name of oil and natural resources company Exxon Corporation, prior to 1972 known as Standard Oil Company of New Jersey. In 1999, Exxon Corporation merged with Mobil to form ExxonMobil. The Exxon brand is still used by ExxonMobil's downstream operations as a brand for certain gas stations, motor fuel and related products. Standard Oil Company of New Jersey was one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s.
Recently, shareholder rebellions have occurred over the issue of executive compensation at Cable and Wirelessand Shell; Shell in response unveiled a plan to curb executive compensation and bonuses. According to some analysts, institutional shareholders have been lax about holding management accountable because they were concentrating on picking correct stocks rather than protecting their interests in the stocks they owned. With many firms showing poor performance, shareholder revolts are becoming more common.
Executive compensation or executive pay is composed of the financial compensation and other non-financial awards received by an executive from their firm for their service to the organization. It is typically a mixture of salary, bonuses, shares of or call options on the company stock, benefits, and perquisites, ideally configured to take into account government regulations, tax law, the desires of the organization and the executive, and rewards for performance.
Cable & Wireless Worldwide PLC was a British multinational telecommunications services company headquartered in Bracknell, United Kingdom. It was formed in 2010 by the split of Cable & Wireless plc into two companies, the other being Cable & Wireless Communications.
On 24 January 1609, Amsterdam-based businessman Isaac Le Maire filed a petition against the Dutch East India Company (VOC), marking the first recorded expression of shareholder activism or shareholder rebellion.
Isaac Le Maire was a Walloon-born Dutch entrepreneur, investor, and a sizeable shareholder of the Dutch East India Company (VOC). He is best known for his constant strife with the VOC, which ultimately led to the discovery of Cape Horn.
The Dutch East India Company was an early megacorporation founded by a government-directed amalgamation of several rival Dutch trading companies (voorcompagnieën) in the early-17th century. It was originally established on March 20,1602 as a chartered company to trade with India and Indianised Southeast Asian countries when the Dutch government granted it a 21-year monopoly on the Dutch spice trade. The Company has been often labelled a trading company or sometimes a shipping company. However, the VOC was in fact a proto-conglomerate company, diversifying into multiple commercial and industrial activities such as international trade, shipbuilding, both production and trade of East Indian spices, Formosan sugarcane, and South African wine. The Company was a transcontinental employer and an early pioneer of outward foreign direct investment. The Company's investment projects helped raise the commercial and industrial potential of many underdeveloped or undeveloped regions of the world in the early modern period. In the early 1600s, by widely issuing bonds and shares of stock to the general public, the VOC became the world's first formally-listed public company. In other words, it was the first corporation to be listed on an official stock exchange. The VOC was influential in the rise of corporate-led globalization in the early modern period.
The Walt Disney Company, commonly known as Walt Disney or simply Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California. It is the world's largest independent media conglomerate in terms of revenue, ahead of NBCUniversal and WarnerMedia, which are owned by telecommunications giants Comcast and AT&T respectively.
Michael Dammann Eisner is an American businessman. Eisner was the Chairman and Chief Executive Officer (CEO) of The Walt Disney Company from September 1984 to September 2005. Prior to Disney, Eisner was President and CEO of rival film studio Paramount Pictures from 1976 to 1984, and had brief stints at the major television networks: NBC, CBS, and ABC.
Roy Edward Disney, KCSG was a longtime senior executive for The Walt Disney Company, which was founded by his father, Roy Oliver Disney and uncle Walt Disney. At the time of his death he held more than 16 million shares, and served as a consultant for the company, as Director Emeritus for the Board of Directors. He is perhaps best known for organizing the ousting of two top Disney executives: Ron Miller in 1984, and Michael Eisner in 2005.
Corporate governance is the collection of mechanisms, processes and relations by which corporations are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation and include the rules and procedures for making decisions in corporate affairs. Corporate governance is necessary because of the possibility of conflicts of interests between stakeholders, primarily between shareholders and upper management or among shareholders.
An activist shareholder is a shareholder that uses an equity stake in a corporation to put pressure on its management. The goals of activist shareholders range from financial to non-financial. According to research firm Activist Insight, a total of 922 listed companies globally were publicly subjected to activist demands in 2018, up from 856 in 2017.
Jeffrey Katzenberg is an American businessman, film studio executive and film producer.
Shell Canada Limited is the subsidiary of Anglo-Dutch Royal Dutch Shell and one of Canada's largest integrated oil companies. Exploration and production of oil, natural gas and sulphur is a major part of its business, as well as the marketing of gasoline and related products through the company's approximately 1,800 stations across Canada.
Robert Allen Iger is an American media executive and businessman who is Chairman and Chief Executive Officer (CEO) of The Walt Disney Company. Before working for Disney, Iger served as the President of ABC Television from 1994–95, and as President/COO of Capital Cities/ABC, Inc. from 1995 until Disney's acquisition of the company in 1996.
Suncor Energy is a Canadian integrated energy company based in Calgary, Alberta. It specializes in production of synthetic crude from oil sands. Suncor ranks number 134 in the Forbes Global 2000 list.
In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements. The taxation term of consolidation refers to the treatment of a group of companies and other entities as one entity for tax purposes. Under the Halsbury's Laws of England, 'amalgamation' is defined as "a blending together of two or more undertakings into one undertaking, the shareholders of each blending company, becoming, substantially, the shareholders of the blended undertakings. There may be amalgamations, either by transfer of two or more undertakings to a new company, or to the transfer of one or more companies to an existing company".
Socially responsible investing (SRI), or social investment, also known as sustainable, socially conscious, "green" or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about a positive change.
This page summarizes projects that brought more than 20,000 barrels per day (3,200 m3/d) of new liquid fuel capacity to market with the first production of fuel beginning in 2007. This is part of the Wikipedia summary of Oil Megaprojects.
Following is a list of Oil megaprojects in the year 2011, projects that propose to bring more than 20,000 barrels per day (3,200 m3/d) of new liquid fuel capacity to market with the first production of fuel. This is part of the Wikipedia summary of Oil Megaprojects.
Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon and Mobil. ExxonMobil's primary brands are Exxon, Mobil, Esso, and ExxonMobil Chemical.
Bruno Le Maire is a French politician and former diplomat serving as Minister of the Economy and Finance since 2017. He previously served as Secretary of State for European Affairs from 2008 to 2009 and Minister of Food, Agriculture and Fishing from 2009 to 2012.
Royal Dutch Shell plc, commonly known as Shell, is a British-Dutch oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom. It is one of the six oil and gas "supermajors" and the fifth-largest company in the world measured by 2018 revenues. Shell was first in the 2013 Fortune Global 500 list of the world's largest companies; in that year its revenues were equivalent to 84% of the Dutch national $556 billion GDP.
ShareAction is a registered charity that promotes Responsible Investment.
The Beaver Lake Cree Nation is a First Nations band government located 105 kilometres (65 mi) northeast of Edmonton, Alberta, representing people of the Cree ethno-linguistic group in the area around Lac La Biche, Alberta, which is the location of their band office. Their treaty area is Treaty 6. The Intergovernmental Affairs office consults with persons on the Government treaty contacts list. There are two parcels of land reserved for the band by the Canadian Crown, Beaver Lake Indian Reserve No. 131 and Blue Quills First Nation Indian Reserve. The latter reserve is shared with five other bands.
The ExxonMobil climate change controversy concerns ExxonMobil's activities related to climate change, especially their views on climate change skepticism. Since the 1970s, ExxonMobil engaged in climate research, and later begun lobbying, advertising, and grant making, some of which were conducted with the purpose of delaying widespread acceptance and action on global warming.