scholarly journals Hostile Takeover Bids: Defensive Strategies

2000 ◽  
Vol 38 (1) ◽  
pp. 111
Author(s):  
Richard A. Shaw
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Oil And Gas ◽  
Chief Executive ◽  
Hostile Takeover ◽  
Special Committee ◽  
Defensive Strategy ◽  
Defensive Strategies ◽  
Takeover Bids ◽  
Oil And Gas Companies

This article, after noting that many oil and gas companies are vulnerable to takeovers and that merger transactions are reaching record-breaking dollar volumes, examines and recommends steps that a corporation may take when facing a hostile takeover bid. These steps are defensive strategies that a chief executive officer, a board of directors, and other players should consider implementing when handling a merger. Recommended strategies for a corporation facing a takeover situation include creating a special committee, choosing appropriate financial and legal advisors, establishing a data room, and seeking other potential buyers. The author concludes that a successful defensive strategy can maximize value for a corporation's shareholders.

Hopes of Basement Bonanza Drowned by Bad Modeling

2020 ◽  
Vol 72 (12) ◽  
pp. 18-20
Author(s):  
Stephen Rassenfoss
Keyword(s):  
Chief Executive Officer ◽  
Coming Out ◽  
Oil And Gas ◽  
Contact Point ◽  
Chief Executive ◽  
Water Levels ◽  
Reservoir Rock ◽  
Production Test ◽  
Resource Base ◽  
The Uk

A British independent bet its future on proving that fractured basement formations could produce large amounts of oil and gas. Based on its first two wells, the proposition that these highly fractured layers of awful-quality reservoir rock can produce billions of barrels of oil is looking very unlikely, but there might be something of value down there. Last April, Hurricane Energy predicted those two development wells could easily produce 17,000 B/D of oil from rock it said held “half a billion barrels of oil.” Now Hurricane’s ambitious plans and its identity as “basement reservoir specialists” are in tatters. The initial wells were productive but much of what was coming out of the lower one - 205/21a-7z - was water. After 8 months of production the water cut reached 46% from a well that was supposed to be hundreds of meters above the boundary between the oil and water aquifer. That was not the only evidence suggesting there was something wrong with the plan to develop discoveries in the Lancaster field along Rona Ridge in the West of Shetland area. On 8 June, Hurricane’s founder and Chief Executive Officer Robert Trice, a geologist with a keen interest in fractured basement rock, resigned, and the company launched a review of the technical work underlying the plan. Experts were added to the subsurface team, which then made major changes. The most significant change pushed up the depth of the contact point between the oil and water levels by around 300 m, within 1 m below the toe of the lower well. In other words, three-quarters of the reservoir in the original plan was under water. The presentation by Beverley Smith, the company’s interim chief executive officer, was a reminder of how a long-term production test can change a reservoir model, even one based on years of work and the drilling of multiple wells. “Let me start by reminding everyone that we are dealing with a unique and challenging reservoir that was always subject to great uncertainty and where data acquisition has long been problematic,” Smith said. Lowered Expectations Hurricane’s remaining Lancaster well (205/21a-6) is producing more than 12,000 B/D, providing critical cash flow for the company, whose future looks altogether different than it did in the days when it predicted its discoveries could potentially produce 2.6 billion bbl of oil, making it the largest undeveloped resource base in the UK Continental Shelf (UKCS).

4 SIAC Corporate Structure

2018 ◽  
Author(s):  
Choong John
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Chief Executive ◽  
International Arbitration ◽  
Corporate Structure ◽  
The Board Of Directors

This chapter discusses the corporate structure of the Singapore International Arbitration Centre (SIAC). The SIAC administers arbitrations for which it is responsible by appointing arbitrators, managing the financial and practical aspects of cases, carrying out supervisory functions entrusted by the SIAC Rules, and scrutinizing and issuing awards. It performs these roles through the following organs: (a) the board of directors, which is under the supervision of a chairman; (b) the SIAC Court, which is led by a president; (c) the chief executive officer; and (d) the secretariat, which includes the registrar. In addition, the SIAC has three overseas liaison offices which do not administer cases but promote the SIAC as an arbitral institution.

The Role of the Chairman at Meetings of Directors

2020 ◽  
Author(s):  
Leslie Kosmin ◽  
Catherine Roberts
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Chief Executive ◽  
Board Meeting ◽  
Timely Manner ◽  
Management Decisions ◽  
The Board Of Directors ◽  
Important Position ◽  
A Company

It is usual for a valid board meeting to be chaired by one of the directors who will act as the chairman of the board. The chairman is the person who has control of the conduct of the meeting. The person who occupies the position of chairman of the board of directors holds an important position in the hierarchy of a company. It is the responsibility of the chairman to manage the board meeting and, in consultation with the chief executive officer and the company secretary, to set the agenda for board meetings. In managing a board meeting a chairman must ensure that all members of the board receive accurate and proper information in a timely manner so as to enable them to take informed management decisions.

scholarly journals Impact of Board of Directors on Performance of Brazilian Banks

2021 ◽  
Vol 12 (3) ◽  
pp. 42
Author(s):  
Rodolfo Fialho Perondi ◽  
Bento Alves da Costa Filho ◽  
Alcido Elenor Wander
Keyword(s):  
Board Of Directors ◽  
Financial Institutions ◽  
Chief Executive Officer ◽  
Performance Indicators ◽  
Boards Of Directors ◽  
Chief Executive ◽  
Securities And Exchange Commission ◽  
Independent Directors ◽  
Return On Assets ◽  
Return On Equity

The objective of this paper is to verify if the performance of Brazilian banks was impacted by the characteristics of their boards of directors in the period from 2010 to 2016. Performance indicators were defined as the Return on Assets (ROA) and Return on Equity (ROE) indicators, widely used in bank surveys. To accomplish the objective, a sample of twenty-nine financial institutions registered at the Securities and Exchange Commission (CVM) was selected. Results showed that the variables representing the influences exerted by the board include the number of directors and percentage of female members is significant to explain Return on Assets (ROA), while the variables average age of the directors, the percentage of independent directors, and segregation of the functions of chairman and chief executive officer, are significant in explaining Return on Equity (ROE).

The Pransky interview: Dr Gary Guthart, chief executive officer, Intuitive

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joanne Pransky
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Large Scale ◽  
Industrial Robot ◽  
Chief Executive ◽  
Lessons Learned ◽  
Content Type ◽  
Chief Operating Officer ◽  
California Institute Of Technology ◽  
The Board Of Directors

Purpose The following paper is a “Q&A interview” conducted by Joanne Pransky of Industrial Robot Journal as a method to impart the combined technological, business and personal experience of a prominent, robotic industry turned successful business leader, regarding the commercialization and challenges of bringing technological inventions to market while overseeing a company. This paper aims to discuss these issues. Design/methodology/approach The interviewee is Dr Gary Guthart, Chief Executive Officer (CEO) at Intuitive Surgical, Inc., and a member of the Board of Directors, both roles he has held since 2010. Guthart discusses his journey to becoming the CEO and also shares some of his lessons learned and challenges faced. Findings Guthart received a bachelor’s degree in engineering physics from California, Berkeley. He earned an MS and a PhD in engineering from the California Institute of Technology. Guthart’s first scientific experience came early in his career in a Human Factors Lab at NASA, supporting a team studying human performance assessment of pilots. Guthart was then part of the core team developing foundational technology for computer-enhanced surgery at SRI International. While at SRI, he also developed algorithms for vibration and acoustic control of large-scale systems. Guthart joined Intuitive Surgical as part of the first engineering team in 1996 as a Control Systems Analyst. He was promoted to Vice President of Engineering in 2002 and was appointed President and Chief Operating Officer in 2008. Originality/value Under Dr Gary Guthart’s leadership and his more than 25 years of medical technology, engineering, scientific and management experience, Intuitive Surgical, Inc., the world’s most successful medical robotics company, has grown to: more than 8,000 employees; nearly 6,000 da Vinci systems sold; more than 8.5 million procedures performed and an increase in stock (NASDAQ: ISRG) of more than 600%. Guthart is also on the Board of Directors for Illumina, Inc., and a member of the Board of Directors for the Silicon Leadership Group.

4 SIAC Corporate Structure

2014 ◽  
Author(s):  
Mangan Mark ◽  
Reed Lucy ◽  
Choong John
Keyword(s):  
Board Of Directors ◽  
Chief Executive Officer ◽  
Chief Executive ◽  
Business Development ◽  
International Arbitration ◽  
Corporate Structure ◽  
Business Executives ◽  
The Board Of Directors

This chapter discusses the corporate structure of the Singapore International Arbitration Centre (SIAC), which is composed of the Board of Directors, the Court of Arbitration of the SIAC, the Chief Executive Officer (CEO), and the secretariat. The Board constitutes lawyers and business executives. They had quasi-judicial functions under the 2010 SIAC Rules. The SIAC Court includes leading arbitration specialists from different countries. It oversees the work of the SIAC Secretariat and performs certain quasi-judicial functions previously performed by the SIAC Chairman and Committees of the Board. The CEO is responsible for the overall management and operations of SIAC, such as business development and marketing functions. The Secretariat is responsible for the day-to-day administration of disputes referred to SIAC, as well as the organization's business development.

scholarly journals Regulations of corporate internal control based on performance assessment of the chief executive officer

2021 ◽  
pp. 21-33
Author(s):  
Larisa Kudin
Keyword(s):  
Performance Assessment ◽  
Board Of Directors ◽  
Development Strategy ◽  
Chief Executive Officer ◽  
Internal Control ◽  
Performance Indicators ◽  
Dynamic Capabilities ◽  
Methodological Approach ◽  
Chief Executive ◽  
Theoretical Approaches

The subject of this article is the corporate internal control processes. Internal control plays an important role in activity of the company and is based upon the principles of respecting the interests of all stakeholders, scope of the rights and obligations of shareholders, top managers and the board of directors. Since the chief executive officer is the key figure responsible for the implementation of development strategy, the goal of this research consists in working out the performance indicators of the CEO. The author explores the following theoretical approaches: system of balanced indicators, prism of performance, stakeholder theory, and theory of dynamic capabilities. Special attention is given to dependence of performance of the CEO to his compensation. For implementation of the effective mechanism of internal control, it is proposed to develop the performance indicators of the CEO, taking into account the interests of stakeholders: board of directors, investors, creditors, employees, clients, vendors, and company. In outlining the goals and tasks of activity of the chief executive officer, the expectations of the stakeholders should be considered. The author develops the matrix of key performance indicators for the CEO in the context of stakeholders. The scientific novelty consists in the proposed original methodological approach towards performance assessment of the chief executive officer, the peculiarity of which is lies in comprehensive application of the system of balanced indicators and comparative market efficiency of a corporation.

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