Results for: Corporate Governance

Lalit Khaitan, the founder of Radico Khaitan, has transformed the Indian spirits market with his unwavering determination, innovative spirit, and strategic leadership. Radico Khaitan’s portfolio boasts well-known brands like Magic Moments, 8PM Premium Whisky, Rampur Indian Single Malt Whisky, and Regal Talon Whisky, solidifying its strong presence in the industry. Under Khaitan’s guidance, the company has expanded to over 85 countries, achieving a market capitalization of approximately Rs 23000 crore. His innovative products, like ‘Happiness in a Bottle’ gin, have garnered immense popularity, resulting in a significant increase in publicly traded shares. With an estimated net worth of $1 billion, Lalit Khaitan’s success story exemplifies the power of hard work, innovation, and ethical business practices.

In FY24, a significant majority of India’s biggest listed companies entrusted their financial scrutiny to the six leading audit firms known as the ‘Big 6.’ These firms, namely Deloitte, EY, Grant Thornton, KPMG, MSKA & Associates, and PwC, collectively handled a substantial portion of the audits for companies listed on the Nifty 500 and NSE indices. Their dominance has grown in recent years, with the Big 6 now overseeing 66% of Nifty 500 companies and 32.5% of all NSE-listed companies.

A survey by J.D. Power reveals that Japanese retail investors are placing greater importance on corporate governance when making investment decisions. Key areas of concern for shareholders include shareholder rights, timely disclosure, board oversight, and stakeholder engagement.

Ben & Jerry’s independent board has asserted its unwavering commitment to overseeing the brand’s social mission, even in the event of a potential sale or spin-off by parent company Unilever Plc. This assurance comes amidst Unilever’s announcement of its intention to divest its ice cream division, which includes Ben & Jerry’s, as part of a broader strategic shift to enhance performance. The board, led by Anuradha Mittal, emphasized the importance of maintaining a robust framework to safeguard the brand’s progressive values and highlighted its instrumental role in driving Ben & Jerry’s impressive growth trajectory.

The recent announcement of China’s “Nine-Point Guideline” has sparked hopes among investors for the improvement of corporate governance in the country. This, combined with a reshuffle at the Securities Regulatory Commission and a push for capital returns, indicates a positive shift in the government’s approach towards the equity market. The implementation of these reforms is expected to create new opportunities for investors, with large-cap Chinese stocks offering a significant upside potential. The Franklin FTSE China ETF (FLCH), which focuses on lower-priced offshore listings, is well-positioned to benefit from this positive momentum.

Shareholders of Goldman Sachs and Bank of America voted against proposals to divide the CEO and chairman roles at their respective banks. Proxy advisors and the Norwegian sovereign wealth fund had urged shareholders to support the moves, arguing for stronger corporate governance. Despite receiving increased support from last year, the proposals failed to gain a majority, with 33% of Goldman shareholders and 31% of BofA shareholders voting in favor. Goldman’s governance committee maintains that the current structure, including a strong lead independent director alongside the chairman-CEO role, is most effective. BofA shareholders also approved all management proposals, including on executive compensation, while rejecting all shareholder proposals.

Grupo Rotoplas, leading water solutions provider in the Americas, has reported its unaudited first quarter 2024 results. The company has navigated weak demand and adverse exchange rates in certain regions, while maintaining profitability and expanding its solutions in others.

Young professionals are increasingly tertarik towards Hong Kong’s accountancy industry due to opportunities in ESG reporting, corporate governance consulting, and the Greater Bay Area, despite a recent decline in new share listings.

China’s stock market is poised for significant growth as sweeping reforms aim to improve corporate governance, increase dividends, and boost institutional ownership. According to Goldman Sachs, valuations for yuan-traded A shares could surge by up to 40%. UBS has also upgraded its rating on Chinese stocks, citing earnings resilience and supportive government policies.

Blackstone-owned Crown Resorts has been deemed suitable to retain its Sydney casino licence by the New South Wales gambling regulator, the Independent Liquor and Gaming Authority (NICC). The decision comes after nearly three years of extensive remediation efforts by Crown in response to past regulatory concerns.