In its statement, Impactive Capital cited poor profit margins and bad capital allocation among the reasons for Envestnet's underperformance. The company currently has a market capitalization of about $3.4 billion. The fund remains open to discussions with Envestnet so that a proxy contest can be avoided, according to people familiar with the matter.Įnvestnet shares, which have shed about 23 per cent of their value in the past year compared to an 18 per cent decline in the S&P 500 Index, rose 2.2 per cent in early trade on Wednesday on the news. Impactive Capital said it unveiled the challenge to Envestnet after its attempt to negotiate just one spot on the company's board for Wolfe was unsuccessful. "Given the disappointing returns, margin underperformance, and questionable governance over which the current board has presided, we have concluded that change is required for all directors up for election at this year’s annual meeting," Taylor Wolfe said in a statement.Įnvestnet did not immediately respond to a request for comment. Impactive Capital, which holds a 7.5 per cent stake in Envestnet, nominated two men and two women, including its co-founder Lauren Taylor Wolfe, to Envestnet's board. vendor of software that helps manage investments, in a push to improve its financial performance, the hedge fund told Reuters on Wednesday. įollow Diligent on LinkedIn, Twitter and Facebook.NEW YORK :Impactive Capital has nominated four directors to the board of Envestnet Inc, a U.S. Empowering more than 1 million users and 700,000 board members with a holistic view of their organization’s GRC practices so they can make better decisions, faster. About Diligentĭiligent is the global leader in modern governance, providing SaaS solutions across governance, risk, compliance, audit and ESG. To learn more about how Diligent can help your organization streamline board-level reporting on ESG and across your business, visit Diligent’s Board Reporting Toolkit. "The SEC is pushing on boards to have quality oversight with depth of knowledge and you can't just be a generalist, you have to go get yourself educated and that's where Diligent can help directors,” said Catherine Lego, board director at Cirrus Logic and Guidewire Software. Best practices and training materials on presenting to the board, including access to Diligent’s industry leading Climate Leadership and ESG Leadership certifications. ![]() ESG scores from Clarity AI and S&P Global, benchmarked against industry averages to provide insight into how an organization is measuring up against its competitors.Progress against carbon targets, peer benchmark disclosures and scope 1, 2 and 3 emissions from Diligent ESG, the market’s most comprehensive ESG solution.Board-ready reporting dashboards designed to provide insight into the relationship between company performance and stakeholder perception on sustainability and ESG.Functional leaders can customize templates to meet the unique needs of their organization or use out-of-the-box reporting templates to input the ESG performance data most important to corporate directors. “Board Reporting for ESG takes the guesswork out of climate reporting, equipping practitioners with the right information to share and allowing executives and board members to see the whole picture, so they spend less time trying to decipher complex information and more time focused on the right insights and data to drive the organization forward.”īoard Reporting for ESG benefits both functional leaders and board members, making data collection more efficient so sustainability professionals can bring unprecedented clarity to the c-suite and ultimately the boardroom. “Collecting and organizing an overwhelming amount of climate data is challenging and presenting a clear and compelling story to the board is even harder,” said Amanda Carty, Managing Director of ESG & Data Intelligence at Diligent. This enables sustainability professionals to focus on the data that matters, delivering reporting in an easy-to-comprehend format for executive management and company directors. Built on the only platform that offers tools to support an organization through its entire GRC journey, Board Reporting for ESG can be tailored to capture an organization’s climate and other ESG data. New York, – Diligent the global leader in modern governance providing SaaS solutions across governance, risk, compliance, audit and ESG, today announced the launch of Board Reporting for ESG, a first-of-its-kind board dashboard that combines performance data with market intelligence to give a comprehensive view of an organization’s environmental, social and governance (ESG) posture. Dashboard provides an efficient way to capture climate data, compare against peer benchmarks, deliver insightful reporting to the board and prepare for disclosure requirements
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