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 made in the American 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 has had a long association with, and control of, Chase Manhattan Bank. As of 1977 the Rockefellers were considered one of the most powerful families, if not the most powerful family, in the history of the United States. The Rockefeller family originated in Rhineland in Germany and family members moved to the New World in the early 18th century, while through Eliza Davison, John D. Rockefeller and William Rockefeller Jr. and their descendants are also of Scotch-Irish ancestry.
Exxon is the former 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, officially the United 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 established on March 20, 1602, as a chartered company to trade with Mughal India during the period of proto-industrialization, from which 50% of textiles and 80% of silks were imported, chiefly from its most developed region known as Bengal Subah. In addition, the company traded with Indianised Southeast Asian countries when the Dutch government granted it a 21-year monopoly on the Dutch spice trade. It has been often labelled a trading company or sometimes a shipping company. However, VOC was in fact a proto-conglomerate company, diversifying into multiple commercial and industrial activities such as international trade, shipbuilding, and 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, 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. It was influential in the rise of corporate-led globalisation in the early modern period.
The Walt Disney Company, commonly known as Disney, is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.
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 his 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 operated. 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. A fairly small stake may be enough to launch a successful campaign. In comparison, a full takeover bid is a much more costly and difficult undertaking. 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. Shareholder activism can take any of several forms: proxy battles, publicity campaigns, shareholder resolutions, litigation, and negotiations with management. Daniel Loeb, head of Third Point Management, is notable for his use of sharply written letters directed towards the CEOs of his target companies.
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".
A bear raid is a type of stock market strategy, where a trader attempts to force down the price of a stock to cover a short position. The name is derived from the common use of bear or bearish in the language of market sentiment to reflect the idea that investors expect downward price movement.
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.
Spirax-Sarco Engineering plc is a British-based manufacturer of steam management systems and peristaltic pumps and associated fluid path technologies. It is headquartered in Cheltenham. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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, 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.
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 oil and gas "supermajors" and the third-largest company in the world measured by 2018 revenues. In the 2019 Forbes Global 2000, Shell was ranked as the ninth-largest company in the world, and the largest energy company. 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.
Rising Tide UK is the United Kingdom part of the International Rising Tide Network, both of which were created in 2000 to carry out direct action against the root causes of climate change, and to work towards a fossil fuel free future. RTUK takes a no-compromise position and believes that only the complete dismantling of the fossil fuel industry and a shift to low consumption lifestyles will be sufficient to halt climate change.
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, where the band office is currently located. 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 by six bands; Beaver Lake Cree Nations, Cold Lake First Nations, Frog Lake First Nation, Heart Lake First Nation, Kehewin Cree Nation, Saddle Lake Cree Nation.
4imprint Group plc is a London-based direct marketer of promotional merchandise. It has offices in the United States, United Kingdom, Hong Kong and Europe. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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 began lobbying, advertising, and grant making, some of which were conducted with the purpose of delaying widespread acceptance and action on global warming.