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Wells Fargo abandons governance, Scharf’s payout, Brown extorted, Barclays’ climate bail, and cowering
Description
Story of the Week (DR):
Mark Zuckerberg just shared his vision for 'personal superintelligence.
"But perhaps even more important is that superintelligence has the potential to begin a new era of personal empowerment where people will have greater agency to improve the world in the directions they choose,"'
Mark Zuckerberg is pouring billions of dollars into AI ‘superintelligence’—so why does his Instagram pitch feel so underwhelming?
Mark Zuckerberg Looks Like He's Been Taken Hostage as He Explains Plan for Deploying AI Superintelligence
Anthropic's CEO says massive salary changes could 'destroy' company culture
"If Mark Zuckerberg throws a dart at a dartboard and hits your name, that doesn't mean you should be paid 10 times more than the guy next to you who's just as skilled."
Amodei said such massive salary changes could "destroy" a company's culture by treating people "unfairly."
Many of his employees have rejected the outside offers, and some "wouldn't even talk to Mark Zuckerberg."
Wells Fargo board to appoint CEO Scharf as chairman and grant $30 million award MM
one-time equity award consisting of Restricted Share Rights with a grant date value of approximately $30 million and 1.046 million Stock Options (Exercise Price: $82.65)
the Board approved and adopted the Company’s By-Laws:
The amendments remove the requirement that the Chairman of the Board be an independent director.
The Board also amended the Company’s Corporate Governance Guidelines to require a Lead Independent Director if the Chairman of the Board is not independent
Consistent with this change, the independent directors of the Board intend to appoint Mr. Scharf as Chairman of the Board, and to appoint a Lead Independent Director of the Board.
$30M last year, including $20M in equity
What happens to exist