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FRIDAY WRAP: 23andMe board resigns, Tyson food’s “smart beef” lawsuit, anti-ESG law killing proxies
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Introduction
LIVE from your ESG smokeless peach pit, it’s a Business Pants Friday Show here at September 20th Lane Studios, featuring ONE of your favorites: AnalystHole-man Matt Moscardi. On today’s weekly wrap up: Nike goes Back to the Future, Chief Kneeler Jamie Dimon yells at young people, Evil Tech CEOs continue to be, um, evil, and directors who love a free ride
Today’s show is brought to you by freefloatanalytics.com - everything you ever wanted to know about who runs public companies, all free.
Story of the Week (DR):
Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
Hill retired from Nike in 2020 after a long career with the company, but the board and Executive Chair Mark Parker asked him to come back, citing their many years of working together
Nike co-founder Phil Knight said that he: “couldn’t be more excited to welcome Elliott back to the team” and that “We’ve got a lot of work to do but I’m looking forward to seeing Nike back on its pace.”
Nike welcomes new CEO with $27 million payday
23andMe’s independent board directors resign MM
In response the CEO said in an SEC filing: “I am surprised and disappointed… We will immediately begin identifying independent directors to join the board.”
Masimo CEO Joe Kiani ousted from board after proxy fight; Politan wins two seats
Single class; 9%
Federal Reserve cuts US interest rates for the first time in four years
Goodliest of the Week (MM, pretending to be AB):
Tyson Foods Sued Over Emissions Reduction Promises DR
Tucker Carlson plans to start a nicotine-pouch company after deciding Zyn is ‘not a brand for men’
He “joked” on a podcast it’d make your genitals “enhanced”
The company (owned by Philip Morris) put out a statement saying “nope”
He said “you’re a bunch of liberal drones” and that they donated to Kamala and they’re good for “your girlfriend or something” because it starts with Z
They do not donate to Kamala, they donate more to GOP
Jamie Dimon tells Gen Z to stop wasting its time on TikTok and read books instead
Cleanup Group Says It's on Track to Eliminate the Great Pacific Garbage Patch
Exhausting-est of the Week (DR, pretending to be JS):
Secret Service Probing Musk’s Post About Threats to Biden and Harris
GOP 'woke week' advances package of anti-ESG bills
F.T.C. Study Finds ‘Vast Surveillance’ of Social Media Users DR
Meta, YouTube and