Topic: corporate governance
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Firmus Technologies Strengthens Leadership for Sovereign AI Push
Firmus Technologies has appointed Kirsty Godfrey-Billy as CFO and Grant Dempsey as incoming Board Chair following a $330 million equity financing round to support institutional growth and technological expansion. The company is preparing to launch Project Southgate, a sovereign AI campus in Tasma...
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Tesla Revives Threats to Secure Musk's $1 Trillion Pay Package
Tesla's board is urging shareholders to approve Elon Musk's $1 trillion compensation package, warning that rejection could lead to his departure and a significant drop in the company's value, mirroring past successful strategies. Corporate governance advisors oppose the package due to its excessi...
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Microsoft-OpenAI Deal Paves Way for Potential IPO
The partnership between Microsoft and OpenAI is advancing with a new agreement, though structural and regulatory issues remain, including Microsoft's dual role as both collaborator and competitor. Microsoft has invested $13 billion in OpenAI and shares revenue from ChatGPT, while also increasing ...
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Elon Musk's $1 Trillion Tesla Pay Approved Despite CEO Criticism
Tesla shareholders overwhelmingly approved a potential $1 trillion compensation package for CEO Elon Musk, contingent on the company meeting ambitious long-term performance goals. The package grants Musk over 423 million shares if Tesla achieves targets like producing 20 million vehicles, deployi...
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Sam Altman's OpenAI Ouster: New Testimony Reveals Chaos
Sam Altman's 2023 removal as OpenAI CEO stemmed from co-founder Ilya Sutskever's allegations of manipulative leadership, including pitting executives against each other and withholding critical information from the board. Sutskever compiled a 52-page memo detailing Altman's behavior and shared it...
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OpenAI's For-Profit Shift and New Microsoft Deal
OpenAI has transitioned to a for-profit structure, forming the OpenAI Group PBC, with the original nonprofit becoming the OpenAI Foundation, which holds a significant equity stake and directs a $25 billion fund toward healthcare, disease research, and AI resilience. The restructuring resolves leg...
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Tesla Chair Calls Musk's $1T Pay Debate 'Weird'
Tesla shareholders will vote in November on a proposed $1 trillion compensation package for CEO Elon Musk, which the board argues is necessary to motivate him through future challenges. Board chair Robyn Denholm stated that Musk's main interest is gaining greater voting influence, not personal we...
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Elon Musk Seeks $1 Trillion to Control Tesla's Robot Army
Elon Musk is requesting increased corporate control and a compensation package potentially worth one trillion dollars to secure his leadership over Tesla's future humanoid robot initiatives, warning he might otherwise depart. The proposed compensation ties Musk's payout to ambitious targets, incl...
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BHM Capital Doubles Share Capital to AED 400M in Oversubscribed Rights Issue
BHM Capital doubled its share capital to AED 400 million through a heavily oversubscribed rights issue, raising an additional AED 200 million from existing shareholders. The capital increase supports the company's growth strategy, funding investments in advanced technologies, digital transformati...
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Luminar Founder Replaced as CEO After Ethics Probe
Luminar Technologies replaced founder Austin Russell as CEO after an ethics investigation, appointing industry veteran Paul Ricci without disclosing specific violations. Russell stepped down from all leadership roles but retains a board seat, with the investigation reportedly unrelated to financi...
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Rackspace Unveils 2025 Sustainability Report
Rackspace Technology released its 2025 Sustainability Report, detailing progress toward net-zero emissions and alignment with UN Sustainable Development Goals, including a 10% reduction in total emissions from 2023 to 2024. The company's greenhouse gas reduction targets are validated by the Scien...
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Tesla Shareholders Back Musk's $1 Trillion Pay Deal
Tesla shareholders overwhelmingly approved a new compensation package for CEO Elon Musk, potentially worth up to $1 trillion in Tesla shares, reflecting strong investor confidence in his leadership. The package ties Musk's earnings to ambitious operational and financial milestones, including incr...
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The Internet Is Broken. Here's How to Fix It.
Wikipedia's structural safeguards, which emerged to maintain quality in large-scale collaboration, provide a model for other online platforms by demonstrating how user control can be effectively managed. To prevent decline, social media platforms should reduce user switching costs through interop...
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Elon Musk's Politics and Burnout Drive Senior Staff Exodus
A significant number of senior executives are leaving Elon Musk's companies, citing the intense work culture and his increasingly public political stances as key reasons for their departures. Key personnel have exited critical divisions at Tesla and xAI, including leadership in sales, engineering...
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Ousted Luminar CEO Austin Russell Bids to Buy Back Company
Austin Russell, founder of Luminar Technologies, has launched a bid through his new entity Russell AI Labs to acquire all outstanding shares of the company, just months after stepping down as CEO. If the acquisition proceeds, Luminar would remain publicly traded and could merge with a larger auto...
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Oracle Seeks $15 Billion in Major Bond Sale
Oracle is preparing a $15 billion corporate bond sale, which may include an unusual 40-year bond, following its major AI infrastructure partnership with OpenAI. The company recently secured a $300 billion cloud computing deal with OpenAI and is reportedly negotiating another potential $20 billion...
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