BIZ NUGGETS, with Tesla’s pay, Cybertrucks, and SBTi, plus Top 5 most influential directors and female powered companies
Live from ISS’s ESG Skeptic Pepsi Skeptic Soda Machine, it’s an all-new terrific Tuesday edition of Business Pants. Joined by Ari The Data Queen and Analyst-Hole Matt Moscardi! In today’s separated Chair and egg white and CEO and yolk called April 23, 2024: Biz Nuggets and the Top 5 List Throwdown show
Our show today is being sponsored by Free Float Analytics, the only ESG data platform to measure real board influence and diversity power gaps
DAMION1
Nuggets
In our 'Please tell me it's get a real CEO that's not an a-hole. Please tell me it's get a real CEO that's not an a-hole. Please tell me it's get a real CEO that's not an a-hole.' headline of the week. Tesla has a simple fix for its faulty Cybertruck accelerator pedal
Drill a hole through it
In our 'The other 5% committed to beers with Marty at Sully's by 7:45' headline of the week. 95% of Apple’s Supply Chain Commits to 100% Renewable Energy Use by 2030
In our 'The security guards were carrying pepper spray filled with delicious and creamy oatmilk and gun-shaped vegan donuts' headline of the week. BlackRock steps up security for Larry Fink after ‘anti-woke’ backlash
$563,513 to “upgrade the home security systems” at Fink’s residences during 2023, on top of $216,837 of protection by bodyguards
In our 'Thanks Vivek and Barbie double' headline of the week. Taylor Swift's name is popping up on Wall Street earnings calls thanks to her massive impact on the US economy AND Diversity Goals Are Disappearing From Companies’ Annual Reports
In our 'Hey Ma, but the Hyundai Motor board is something we have seen before in Asia: only two female directors with a total of 3.1% influence, tell Dad because I know he has a free subscription to Free Float Analytics!' headline of the week. Boston Dynamics’ new humanoid moves like no robot you’ve ever seen
MATT1
In our 'It is a clear threat to America when one company owns 20% of digital ad sales and 3bn global users, 200m of which are in the US, and that company is totally controlled by an autocrat. Oh, wait? We're talking about TIKTOK? Not Meta? My bad?' headline of the week.
In our 'CHINA CHINA CHINA!' headline of the week.
In our 'Protecting customers one Michael Kors bag and Call of Duty headshot at a time' headline of the week.
In our 'Get a chance to relive it all! Now with more antisemitism, racism, and conspiracy theories!' headline of the week.
In our 'It's almost as if the board matters' headline of the week.
Bezos Earth Fund Commits to Continue Financing Climate Targets Group
The “Climate Targets Group” is SBTI - Earth Fund is 45% of donations (combined with IKEA)
Here’s the quote: "The group’s board of trustees made the decision" - that decision was to allow dubious carbon credits for offsetting emissions by corporations over the vehement walk-out-y rejection of staff (which has, like, scientists on it)
SBTI Board of Trustees
Business + politics 3, scientists 0:
Francesco Strarace, Chair, Partner at EQT
We have director data on Francesco - boards of Enel (28% influence) and Endesa (19% influence)
Bats 0.556 on carbon intensity
Enel has one of the worst governance scores in MSCI ESG scores, BUT is doing more to decarbonize and move to renewables than every other utility for the most part (considering it still does gas and coal)
Set SBTI approved targets
Iván Duque, former President of Colombia
Increased CO2 per capita while he was president 6%
Increased absolute emissions 11%
Mostly production based increases - meaning, the country made more shit that spewed more carbon than bought it
Top two exports in Colombia: Crude petroleum and coal!
Ester Baiget, Novozymes
Board of Azko Nobel, she’s a rookie
CEO of Novozymes, a fake position - CEO of Novo Holdings Kasim Kutay on board, has all influence
Set SBTI approved targets
Funders/workers
Lila Karbassi, United Nations Global Compact
Nicolette Bartlett, CDP
SBTI CTO, Head of Comms, Compliance Director, Ops Director hosted by CDP
María Mendiluce, We Mean Business Coalition
Manuel Pulgar Vidal, WWF
Chief Impact Officer hosted by WWF
Ani Dasgupta, WRI
SBTI CEO hosted by WRI
DAMION2
Old-fashioned female power gap (leagues 3|4 ex China)
No family firms or dictatorships
EDP Renovaveis, S.A.: 27
A Spanish Utilities company owned and operated by the Portuguese government who have designated two women to watch over the men.
Advanced Micro Devices: 26
US semiconductor company
Only 3 women on the board but led by Chair and CEO Lisa Su (Jensen’s cuz) along with Lead Independent Director Nora Denzel
ELECTRICITE DE FRANCE SA: 25
Another national Utilities company: this one from my France
Half the board is women, led by two women designated by the French State
Adevinta ASA: 23
A Norwegian online commerce company
50% female, led by Chair Orla Noonan and two other women who combine for 60% of influence. One of those women is Kristin Lund, the CEO of Schibsted, which owns a 28% stake in Adevinta
Admiral Group: 22
a British financial services company
Led by CEO Milena Mondini de Focatiis, Pay Committee Chair Evelyn Bourke, Audit Committee Chair Karen Green, and Senior Independent DIrector Justine Roberts
Special mention:
*American Electric Power Company:24-27
Utilities
50% female with 77% female influence typically except board member Ben Fowke III became Interim CEO in February which is temporarily throwing off our numbers
MATT2
Top 5 Most Influential Directors
Methodology:
Cannot include state-run or totalitarian boards (dual class, founder/family, etc)
Cannot be the CEO on the board
Must be on multiple boards
Board size must be >6
Must be on the boards of large caps
How I measured:
Average influence
Our measure using a director’s resume, role, status, and connections to other board members of a director’s “responsibility” for board outcomes
Top 5 - 40% women!
#5: Kevin Kabat (male, US based)
17% average influence at Nisource, Unum Group, Crown Castle
DOUBLE chair, including a SECOND stint as Nisource’s chair, on every nom committee
Total aggregate tenure: 25 years on these three
#4: Pam Kirby (female, GB based)
18% average influence at Bunzl, Akzo Nobel, Reckitt Benckiser
DOUBLE chair, including a SECOND
Total aggregate tenure: 25 years on these three
#3: Scott Perkins (male, AU based)
19% average influence at Brambles, Origin Energy, Woolworths
DOUBLE chair, pay and nom chair at Brambles, on EVERY committee at every company and is the chair for both Origin and Woolworths
Total aggregate tenure: 27 years
#2: Annett Aris (female, NL based)
21% average influence at Ranstad, ASML, Jungheinrich
Somehow NOT chair of a board, chair of pay ONLY on Ranstad - but highly connected, on 2 nom committees, and an ALL STAR performer
Total aggregate tenure: 27 years
#1: Dick Boer (male, GB based)
21% average influence at Shell! Nestle! Just Eat Takeaway.com!
Whopping 41% influence at Takeaway.com - he is EVERY committee and board chair - super connected in Europe despite Benchwarmer performance
Total aggregate tenure: 27 years
