Two directors issued a letter in response to the recommendations made by proxy advisory firms on the ceo-chairman split issue as well as removal of some of the JP Morgan directors from the board.
Firm Management
Deputy Head of Investment Banking for Morgan Stanley Leaves Firm
Ji-Yeun Lee, the deputy head of investment banking for Morgan Stanley leaves the firm. The deputy head of investment of Morgan Stanley has left the firm.
Bischoff Set to Retire from Lloyds Chairmanship
Win Bischoff is retiring as chairman of Lloyds Banking Group according to the Financial Times. As reported in the Financial Times, the chairman of the Lloyds Banking Group Win Bischoff is stepping down.
Ma Steps Down as Alibaba CEO
Jack Ma, the Chinese billionaire steps down as Alibaba's CEO. Jack Ma, the Chinese Internet billionaire whose fortune comes from the decade long development of China's largest e-commerce company, the Alibaba Group.
UPDATE - Bloomberg CEO Calls Access to Journalists a 'Mistake"
Bloomberg CEO Daniel Doctoroff called the access to journalists fiasco a 'mistake'. Bloomberg LP CEO Daniel Doctoroff said, after receipt of reports that users of the company terminals were investigating potential leaks of information, said that the company committed a 'mistake' by providing journalists access to data on a client's terminal usage.
Latest News
Hess, in a move to address criticisms, splits the position of CEO from Chairman. In a bold move, Hess Corp would be splitting the roles of chairman and chief executive officer in its annual shareholders meeting next week.
Harry Winston is now a Swatch unit to be headed by Nayla Hayek, daughter of Swatch group founder Nicolas Hayek.
Lehman may sell off US$14 billion in unsecured claims to raise funds to pay off debts and other claims.
Ouya console gaming gets a boost with US$15 million from venture capitalists. The maker of a US$99 video game console that utilizes Google Inc's Android operating system, Ouya Inc has raised US$15 million in venture capitalist funding in expanding its operations.
Mediobanca on its own is performing well but is now burdened by the bad deals from insurer Generali.
MaRS welcomes Salim Teja as ICE Sector Program Managing Director. In an announcement from the MaRS Discovery District, it was happy to disclose the appointment Salim Teja as the ICE Sector Program's Managing Director.
Ivan Menezes replaces Paul Walsh as the new CEO of Diageo. The globe's largest spirits distiller, Diageo, has announced that Ivan Menezes would become the new Chief Executive Officer of the company replacing Paul Walsh.
Betfair puffs up to block CVC Capital's takeover bid. On Tuesday, the online gambling company Betfair increased its profit forecast which included the company's target on cost savings.
The proposal to either split the CEO and Chairman position or impose more oversight of the CEO-Chairman subject to approval by JP Morgan shareholders.
