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Anointed director at American Express, plus why caving to Robby Starbuck is bad for business at Harley Davidson
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PROXY COUNTDOWN SCRIPT
This is Proxy Countdown. Welcome to the big show for the week of April 21, 2025 alongside my tag team partner Matt Moscardi. I'm Damion Rallis. On today’s countdown:
Two new sycophants join Mark Zuckerberg’s expanding board of cronies
A whacky 8-k filing fight at a weed company
A proxy fight at Harley Davidson hides the good stuff in a redacted resignation letter
Much ado about nothing at large cap annual meeting votes
And on The Big Vote, Matt gives an early summary of the 2025 proxy season.
Trade Wire - BUY/SELL
Top Stories:
Meta Platforms now has 15 directors: one dictator and 14 listeners.
The new directors are Stripe CEO Patrick Collison and Dina Powell McCormick, the former Deputy National Security Advisor to Donald Trump during his first term. Dina is married to Republican Senator Dave McCormick, the former CEO of Bridgewater Associates, one of the world's largest hedge funds.
CEO Gavin D.K. Hattersley is stepping down at Molson Coors Beverage Company. The other Named Executive Officers will receive over $6M in retention equity awards NOT to quit, CFO Tracey Joubert will get $4M.
Raghib Hussain, President, Products and Technologies of Marvell Technology, is stepping down. But don’t worry: “Marvell has a thoughtful succession planning process and deep bench of talent [and] has activated a plan to ensure Mr. Hussain’s responsibilities are seamlessly transitioned on or before his departure date.”
You have until May 2nd, Marvell, get busy.
In three moves that don’t really change the dynamic in their respective boardrooms:
Joseph Creed is the new CEO at Caterpillar but former CEO Jim Umpleby will stay on as Executive Chair
Netflix founder Reed Hastings will transition from Executive Chair to non-executiv