% | $
Quotes you view appear here for quick access.

The Boeing Company Message Board

  • h_iamiam1 h_iamiam1 Mar 1, 2013 10:08 PM Flag

    SEC SEC orders vote to split Boeing CEO, chairman rolesorders vote to split Boeing CEO, chairman roles

    {{{{Boeing must let investors vote on splitting the roles of chief executive officer and chairman to strengthen oversight, the Securities and Exchange Commission said. Boeing sought to block a vote, messages to the SEC show.}}} This looks like its aimed at McNerney.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • this is good for a bump OP

    • Boeing lost this part of the argument against my friend mr chevedden

      Instead, less than 15% of the supporting statement (56 out of 377 total words) is related to the Chairman' s independence, the Chairman ' s role on the Boeing Board or other matters related to the Proposal. The vast majority of the supporting statement consists of the following four paragraphs, which are directed at the CEO ' s service on other boards ofdirectors, not the Chairman' s independence:
      "This proposal is important to f ocus our CEO on Boeing due to the s ize and complexity of our company and the challenges that our company fac es -for example the 3-year delay ed Boeing 78 7. In 201 2 our CEO was potentially distracted by his responsibilities on the boards of Procter & Gamble and IBM, both rated "D " in governance by GMI!The Corporate Library, an indep endent investment research firm. Mr. McNerney was further overextended by his responsibilities on a total ofthree board committees at IBM and P&G.
      According to "P&G Directors Face Own Challenges While Keeping Tabs on McDonald " by Jeff Green of Businessweek, September 4, 2012, Procter & Gamble directors [including P&G Lead Director McNerney] are facing a time management challenge: monitoring CEO Robert McDonald 's turnaround plan while running their own companies. McDonald, who lowered P&G profit fore casts three times in a year at the world's largest maker of consumer products, is trying to cut $10 billion in costs and restructure the company to focus on winning back market share. He also faces pressure from activist investor Bill Ackman, founder ofPershing Square Capital Management, who disclosed a stake in P&G in July 2012.

      • 1 Reply to donwshuper50
      • ...investment research firm. Mr. McNerney was further overextended by his responsibilities on a total
        No other company in the S&P 500 had more active CEOs than P&G. " This is probably not the kind of board you want for a company that 's about to face a crisis, " said Jay Lorsch, a management professor at Harvard Business School in Boston. " When you have directors who are busy with their own companies [like Mr . McNerney], that limits time they have for P&G and that ca n be problematic. "
        Mr. McNerney should follow the example of Netflix CEO Reed Hastings who left the Microsoft board in October 2012. "I've decided to reduce the number of boards I serve on, so that I can focus on Netflix, " said Hastings. "

129.215+1.715(+1.35%)12:23 PMEDT