Paramount Global controlling shareholder Shari Redstone received the fewest votes among other directors in the company’s board election, a filing on Friday showed. Redstone received 32.2 million votes for her election to the board, the lowest out of the six candidates, while also getting the most votes against her election at more than 905,000. Paramount’s annual shareholder … Read more
Tata Motors on Tuesday said its board has approved to set up a wholly-owned subsidiary to house commercial vehicles business. The company has proposed the name of the new unit as TML Commercial Vehicles Ltd (TMLCVL). The entity is proposed to be a wholly-owned subsidiary of the company, Tata Motors said in a regulatory filing. … Read more
Advance Auto Parts is appointing three new board members after hedge funds Third Point LLC and Saddle Point Management took positions in the automotive afterparts provider, the company said. The company will add executives with automotive supply chain and merchandising expertise to sit on its board which currently has nine members. The board refreshment comes only six … Read more
OpenAI revealed Friday that CEO Sam Altman will rejoin its board of directors – and said it has “full confidence” in his leadership after wrapping up a secretive probe into the circumstances that led to his shock firing from the company last Nov. 17. The surprise return of Altman, 38, is one of several additions … Read more
Sheryl Sandberg, who helped to transform Facebook from a tech start-up into a digital advertising empire, will step down from the board of Meta, Facebook’s parent company. “With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for re-election this May,” Sandberg … Read more
Activist investment firm ValueAct Capital Management agreed to back Walt Disney’s board nominees at its upcoming shareholder meeting as the entertainment giant looks to fight off a proxy battle from Nelson Peltz. Disney signed an agreement to share confidential company information with ValueAct, plus consult with the San Francisco-based firm “on strategic matters, including through … Read more
A group of senior employees at OpenAI complained to the company’s former board of directors that CEO Sam Altman was “psychologically abusive” — and the allegations contributed to the shocking decision to fire him, according to a report Friday. Altman, one of most recognizable figures in Silicon Valley and a leader of the artificial intelligence … Read more
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