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Sir Witty avoid fraud probe, the anti-woke think Exxon is woke, investors are confused about Harley
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Story of the Week (DR):
UnitedHealth Group CEO Andrew Witty steps down for 'personal reasons' MM DR
UnitedHealth Under Investigation: UnitedHealth Group is facing a criminal probe by the U.S. Department of Justice for potential Medicare fraud related to its Medicare Advantage program. The company is also dealing with a civil fraud investigation and has suspended its 2025 financial forecast amid rising medical costs. CEO Andrew Witty resigned unexpectedly this week.
Steve will receive a golden hello again consisting of a one-time $60M option award. While the company claims there will be no additional annual equity awards during the first three years of Steve’s employment, there are no performance hurdles tied to this award meaning Steve could make a boatload of cash even if the stock market goes up independent of his work as CEO.
A Kohl's board member resigned because she was 'continually disappointed' by governance and a lack of transparency MM DR
Kohl's Director and Compensation Committee Chair Christine Day resigned from the board on May 5, 2025.
Kohl’s initially claimed: “Ms. Day’s decision [to resign] was not due to any disagreements with the Company on any matter relating to the Company’s operations, policies or practices.”
Day later sent an email (included in SEC filing) saying:
I want to stress my concern that this is an inappropriate way to handle this. All shareholders deserve the same access to the same information. [ . . .] and for us to not respond to ISS is not good governance. In the 8K filing, for my departure, it would not be accurate to say I have no disagreements with the board. Unfortunately I have been continually disappointed with the level of governance process. The 8k needs to reflect this.”
In another email she called out Board Chair Michael Bender: “There is no delegation to committees or chairs, Michael “handles” everything, maybe speaks to one person or 2, then “tells” everyone what the decision is. Some people know more than others leading to board members feeling alienated, out of the loop, and worse—developing a culture where real discussions rarely occur.”
In a meeting held yesterday (may 14), only 5% of Kohls shareholders said NO to Board Chair Michael Bender while 45% said NO on Pay while average director support was 92% YES
John Tyson joins Tyson Foods Inc. board, 9 mont