Moderna Under Fire as CEO Earned Nearly $400 Million in Stock Options and a 50 Percent Raise Last Year

Moderna is under fire after financial records showed the biotech company’s CEO Stephane Bancel earned around $393 million in 2022 from stock options he exercised as he received a 50% raise.

Bancel, whose firm is known for producing the COVID-19 vaccine, received $1.5 million in 2022, an increase of 50% from 2021, and Moderna increased his target cash bonus, a March securities and exchange commission filing shows.

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Twitter Users Vote for Elon Musk to Step Down as CEO

Twitter users voted for owner and CEO Elon Musk to step down from his leadership role by a 15-point margin in a Sunday poll.

“Should I step down as head of Twitter? I will abide by the results of this poll,” Musk asked in a Sunday afternoon tweet. The query came after Twitter implemented several recent changes in its policies, specifically instituting a policy prohibiting the sharing of real-time public information that resulted in the suspensions of several journalists.

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Conservative Investors Launch Campaign to Take On America’s ‘Wokest’ Corporations

A group of conservative investors plan to take on four of the “wokest” corporations at upcoming shareholder meetings over allegedly discriminatory policies in an effort to defend shareholders, according to a press release.

The Free Enterprise Project of the National Center for Public Policy Research, a Boardroom Initiative (BI) coalition member, will make proposals at Walmart, Twitter, Facebook and Comcast shareholder meetings held over the next two weeks to hire outside firms to investigate whether or not the companies are placing merit behind “equity” considerations, according to the release.

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American Medical Association CEO Calls Laws Banning Kids Trans Surgeries ‘Dangerous Governmental Intrusion’

Doctors performing surgery

The American Medical Association urged governors Monday to take a stand against laws banning transgender surgeries and procedures for minors.

American Medical Association (AMA) CEO James Madara sent an open letter to the National Governors Association Monday calling laws banning transgender surgeries for minors “a dangerous governmental intrusion into the practice of medicine,” noting that transgender and nonbinary gender identities “are normal variations of human identity and expression,” according to NBC News.

“As with all medical interventions, physicians are guided by their ethical duty to act in the best interest of their patients and must tailor recommendations about specific interventions and the timing of those interventions to each patient’s unique circumstances,” Madara wrote, the publication reported.

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Bernie Sanders Introduces Bill Raising Taxes on Companies That Pay Executives 50 Times More Than Median Worker

Vermont Sen. Bernie Sanders introduced legislation Wednesday that would targeting companies who pay executives 50 times more than their median worker.

The legislation, titled the Tax Excessive CEO Pay Act, aims to combat corporate greed and “end outrageous CEO pay,” Sen. Bernie Sanders said in a press release Wednesday. Sens. Elizabeth Warren, Ed Markey and Chris Van Hollen, along with Reps. Barbara Lee and Rashida Tlaib, joined Sanders in introducing the bill.

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President Trump Fires Tennessee Valley Authority Chair Over Hiring of Foreign Workers, Caps TVA CEO Pay at $500k

President Donald Trump said Monday that he had fired the chair of the Tennessee Valley Authority, criticizing the federal-owned corporation for hiring foreign workers.

Trump told reporters at the White House that he was formally removing chair Skip Thompson and another member of the board, and he threatened to remove other board members if they continued to hire foreign labor. Thompson was appointed to the post by Trump.

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New Ohio Bill Proposed to Overhaul Controversial ‘State Takeover’ of Local Public Schools

A new Republican-backed bill is being considered that would dramatically undo a major and controversial education initiative that was supported and signed by former Gov. John Kasich. In 2015, Ohio was facing an epidemic of failing schools. An Ohio Department of Education report for 2014-2015 found that only six of the 607 school districts received an “A rating,” while the majority averaged a “C.” In response to this growing epidemic, Kasich backed a controversial solution. The “Youngstown Plan,” as it’s called, established a system by which any school that receives consistently failing grades would immediately be taken over by a five-person “Academic Distress Commission.” This commission then appoints a “CEO,” who has “complete operational, managerial and instructional control of the district.” This authority includes the ability to hire or fire individuals at will, close schools and allocate funds. On June 24, 2015, House Bill 70 (HB 70) was rewritten, introduced, and passed by both the House and Senate in one day. It was signed later that year. At the time of its passage, a Kasich spokesperson stated the governor’s feelings: Gov. Kasich had been vocal about the need to improve the Youngstown School system in light of the fact that they had been failing for nearly 10…

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Billionaire CEO Of JD.com, Richard Liu, Arrested In Minnesota For ‘Suspicion of Sexual Misconduct’ – Again

Richard Liu

by Kyle Perisic   The billionaire CEO of Chinese e-commerce giant JD.com was arrested in Minnesota Friday on suspicion of sexual misconduct, and it’s not the first time he’s been involved in such allegations. The company said it was a false allegation after Liu Qiangdong, also known as Richard Liu, was released. He’s worth an estimated $7.9 billion, according to Forbes, making him one of China’s richest men. “During a business trip to the United States, Mr. Liu was questioned by police in Minnesota in relation to an unsubstantiated accusation,” the company said Sunday, The Wall Street Journal reported. “The local police quickly determined there was no substance to the claim against Mr. Liu, and he was subsequently able to resume his business activities as originally planned.” Liu has previously been accused of sexual misconduct, according to The WSJ. He reportedly tried to keep his name out of a sexual assault case in Australia, where he has a home in Sydney, in 2015. Beginning in 1998 as an online electronics store, JD.com has become an online retail behemoth — operating similar to Amazon. Walmart is its second largest shareholder, behind Liu, owning 10 percent and 17 percent, respectively. Alphabet’s Google owns about 1…

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Pepsi CEO Indra Nooyi to Step Down

Indra Nooyi

PepsiCo chief executive Indra Nooyi, one of the most prominent female CEOs in the world, announced Monday she will step down after leading the giant soft drink company for 12 years. Nooyi, 62, has worked at PepsiCo for 24 years. In a tweet, she expressed “mixed emotions” about leaving her position and said she “never imaged” she’d have the opportunity to lead “such an extraordinary company.” PepsiCo’s current president, Ramon Laguarta, will take over as CEO in October. Nooyi will remain as chairman of the board until early next year. Nooyi, who was born in India, is a rarity on Wall Street — a woman and a minority leading a Fortune 500 company. Among the 500 companies in the S&P 500, only 25 — 5 percent — are led by women. Nooyi’s departure leaves only one woman of color among the Fortune 500 CEOs. Nooyi told Bloomberg News on Monday that she planned to advocate for more women to serve at the highest levels of corporations. “My job is, in fact, just beginning once I leave PepsiCo because I can do things now that I was constrained to do when I was CEO of the company,” she said. While at…

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Fiat Chrysler Names Jeep Boss to Replace CEO Stricken with Illness

Mike Manley

Reuters   Fiat Chrysler named on Saturday its Jeep division boss, Mike Manley, to take over immediately for Chief Executive Sergio Marchionne, who is seriously ill after suffering major complications following surgery. The carmaker said British-born Manley, who also takes responsibility for the North America region, will push ahead with the midterm strategy outlined last month by Marchionne, who had been due to step down next April. Marchionne, 66, was credited with rescuing Fiat and Chrysler from bankruptcy after taking the Italian carmaker’s wheel in 2004. On Saturday, he was also replaced as chairman and CEO of Ferrari and chairman of tractor maker CNH Industrial — both spun off from Fiat Chrysler Automobiles in recent years. “FCA communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours,” the statement said. FCA disclosed earlier this month that Marchionne, a renowned dealmaker and workaholic, was recovering from a shoulder operation. But his condition deteriorated sharply in recent days when he suffered massive complications that were not divulged. Ferrari named FCA Chairman and Agnelli family scion John Elkann as new chairman, while board…

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