The world is returning to work. An environmental activist fund won a quarter of Exxon's board seats. World leaders announced plans for a minimum corporate tax.
This issue of The Informed Board provides insights for directors about these events. Plus, a look at the disruptive effects — and enormous benefits — that could flow from widespread adoption of blockchain technology in financial services, and a reminder about an old antitrust law that could be revived and used against tech companies.
Companies generally will be allowed to require employees to return to the office or other facility and to mandate vaccinations and/or testing. But they will need to observe state and federal laws, apply their rules evenhandedly and be alert to permitted exceptions.
The election to Exxon’s board of three directors nominated by a climate-focused activist fund and shareholder support for lobbying disclosures highlight the ESG forces companies now face. The outcome may embolden other ESG activist funds.
The G7’s support for a more uniform global framework for corporate taxation could reduce the ability of countries to use low tax rates to attract businesses. Overall, the plan would likely raise taxes for many multinationals.
The Clayton Act’s prohibition against competitors sharing directors or officers could be a tool if antitrust regulators look for new ways to preserve competition. Tech companies could be particularly vulnerable.