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...Robyn Denholm, chair of Tesla’s board, wrote to shareholders on Wednesday asking them to approve the move to Texas and to ratify Musk’s pay package, which they previously approved at a meeting in 2018....
...The Federal Trade Commission is poised to approve ExxonMobil’s $60bn acquisition of Pioneer Natural Resources on condition that Pioneer’s chief executive Scott Sheffield does not join its board....
...He added that an informal poll he had earlier held on such a shift was “unequivocally in favour of Texas”....
...The Texas governor last year signed legislation to create the Texas Business Court to hear commercial cases worth more than $5mn or $10mn, depending on the type of dispute....
...Supporters of non-compete clauses, including plaintiffs in a lawsuit filed in a federal court in Texas, argue they are essential to protect intellectual property, workforce investments and client relationships...
...Within days of Musk polling X users on a decision to move to Texas, the board convened a meeting — Musk and his brother Kimbal Musk were excluded — where it decided to form a special committee to study the...
...One Musk Headache to Start: Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented remuneration was improperly approved by the electric-car maker’s board...
...Texas has a long way to go to match it, and the southwestern state’s judges would not gain credibility if they merely did the bidding of wilful entrepreneurs....
...Quarterly transitions into debt delinquency are also trending well above the national average in Texas and Florida, where Trump continues to have strong support....
...Sheffield was a vocal advocate of throttling back US production during the 2020 crash, calling on the Railroad Commission of Texas, which regulates the industry in the state, to mandate curbs....
...His law firm, Wachtell Lipton Rosen & Katz, later dominated the practice of representing corporate boards in Delaware disputes, even hiring multiple Delaware judges after they retired from the bench....
...McCormick ruled that Musk had exerted undue control over the company’s board despite owning a minority of Tesla. He was the “paradigmatic ‘Superstar CEO’”, she wrote in the ruling....
...Tesla could move to Texas in search of greater indulgence, but is it really a good idea? john.gapper@ft.com...
...And for all of the histrionics of Musk, there is not even a hint that other big public companies are set to abscond to Texas, Nevada or any other state....
...Aaron Kinsey, chair of the Texas State Board of Education, in a letter asking for the decision to be reconsidered.* BlackRock declined to comment on the size of red state ESG-related divestments....
...“ESG efforts have targeted Texas’ oil and gas economy,” said Aaron Kinsey, chair of the state board of education....
...As a condition of approving Exxon’s purchase of Pioneer, the FTC took the extraordinary step of barring Sheffield from joining the supermajor’s board as anticipated in the merger agreement....
...I have been chairman of the board of the financial literacy programme at the University of Texas (Arlington) for over a decade and see the specific community results....
...Well, it had to do with the facts of the case. Sujeet Indap The scrutiny changes if a board of directors is not truly independent and in fact is too closely tied with the CEO....
...Since then, he has shifted incorporation of two of his companies away from Delaware — SpaceX to Texas, and Neuralink to Nevada....
...The state tends to be more deferential to the decisions of boards with such large shareholders. TripAdvisor, controlled by Greg Maffei, recently has attempted to move from Delaware to Nevada....
...The appointment follows the recent departure of Steve Hill. Piedmont Lithium has appointed Dawne Hickton to the board of directors of the lithium supplier....
...The separation looks sensible, with the debt going to the board games unit with steadier sales. Shorn of that burden, the other businesses should be revalued by the market. Get the numbers here....
...Pat Cullen, the head of the Royal College of Nursing, was hailed by the leader in the Irish Senate of pro-Irish unity party Sinn Féin as having backed reunification as the only remedy for the NHS....
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