eBriefing

Foreign Currency Volatility: 3 Questions Directors Should Ask

By Mark Henderson

The board of directors for a U.S.-based equipment manufacturer, headquartered in the Northeast, found out the hard way how currency exchange rates can impact business, especially in a post-Brexit world.

The company, which generates $1.1 billion in annual revenues, including 340 million pounds through sales in the United Kingdom, saw losses after the dollar strengthening against the British pound. The currency change frustrated the CFO who had to report an average loss of $2 to $22 million each quarter to the board. The losses resulted in lower bonuses and postponement of a long-anticipated company project.

The board grasped the challenge, but only after it was too late.

Serena Williams Appointed to SurveyMonkey Board

By Bilin Lin

In her quest to promote women in leadership in business world, Tennis star Serena Williams joined the board of SurveyMonkey.

SurveyMonkey, one of the leading online survey companies in the world, announced Williams appointment Wednesday with the firm’s CEO Zander Lurie saying, “Serena is an activist, marketer, brand builder, and greatest athlete of our time. Serena’s voice on the board sends a strong message to our company, investors, and the industry.”

Williams has been vocal about her desire to promote diversity.

> Board Refreshment Drives Progress Toward Gender Parity

The Golden State of Governance

2017 National Conference in San Francisco. What can we expect from the new administration? Join in the discussion with expert panelists as they review proposed rules, executive orders, pending legislation, disclosure reform, the impact on the SEC and more.

SEC & Legislative Update: Expectations in the New Administration

• Jake Amsbary, Assistant Secretary, United Parcel Service, Inc.
• Keir Gumbs, Partner, Covington & Burling
• Keith Higgins, Former Director Corporation Finance, SEC
• Hope Jarkowski, Senior Counsel for Government Affairs, Intercontinental Exchange

Unethical CEOs Shown the Door More Often

The number of CEOs who were ousted for ethical lapses has been increasing at public companies around the globe, but such dismissals aren’t as prevalent at U.S. companies.

The 2016 CEO Success study by Strategy&, PwC’s strategy consulting business, analyzed CEO successions at the world’s largest 2,500 public companies over 10 years, and found that forced turnovers due to ethical lapses jumped 36% during the four-year period ending 2016, compared to the four-year period from 2007 to 2011.