Shareholder Seeks to Alter RIM's Management Structure
A major Research In Motion investor has proposed that all shareholders vote down the current governance structure of the company, and ensure that the chairman of the board is not also the company's CEO. Co-CEOs Jim Balsillie and Mike Lazaridis are both also co-chairmen of the board. Northwest & Ethical Investments filed a resolution asking RIM to change its bylaws. It plans to hold a vote at RIM's July 12 general meeting. RIM has asked investors to vote against the resolution. RIM has earned the ire of its investors of late due to its stagnant product roadmap and shrinking market share.
Samsung to Weigh Restructuring
Samsung today said it will consider a dramatic overhaul to its corporate structure, but it isn't making any immediate moves. The company is weighing whether or not it should split the firm into a holding company and operating company.
US Intervenes In Vote, Wants to Review Qualcomm-Broadcom Deal
The U.S. government ordered Qualcomm to cancel a vote scheduled for Tuesday to allow the government more time to review a potential merger between Qualcomm and Broadcom.
FCC Delays Vote On Incentive Auction Rules
The FCC today removed a scheduled vote regarding the incentive auction rules from the agenda of its open meeting, scheduled for July 16. According to Commissioner Ajit Pai, the FCC delayed the release of some simulation data until just days before the vote.
Qualcomm Decides to Remain As Is
Qualcomm has completed a review of its corporate structure and said it will not make any changes to its makeup and/or organization. The company was examining whether or not it would make sense to break the company up into separate parts to unlock more value for shareholders.
Qualcomm to Cut Jobs Amidst Cost Restructuring
Qualcomm today said it will pursue aggressive cost restructuring, including the elimination of jobs, as it seeks to balance its financials. Qualcomm indicated it plans to slash $1.4 billion in expenses through a number of different actions, including job cuts of about 4,500, or 15% of its work force.
What took so long?