Wanted: A few good board seats

Michael Hyatt, who last week handed over the corner office at Thomas Nelson to Mark Schoenwald, outlines his priorities for the next phase of his working life. Key among them: Speaking, writing some books and landing in the board rooms of a few other organizations.

Apr 18, 2011 7:06 AM

Uhhhm... Did you read the release?

Give 'em credit for speed at least. Law firms in San Diego, New York and Delaware say they are investigating the news this morning that America Service Group has agreed to sell itself to a St. Louis-based peer. The team at Robbins Umeda thinks America Service's board may not have upheld its fiduciary duty — even though the directors have put out word that they'll listen to other offers for 45 days.
Mar 3, 2011 11:36 AM

O'Charley's chairman named to retail tech company's board

Phil Hickey, chairman of restaurant chain O'Charley's since the beginning of 2009, has been elected to the board of Atlanta-based Radiant Systems, a developer of hardware and software for the retail and hospitality sectors.
“I’m thrilled to accept a position on Radiant’s board because I believe in the company’s products, its leadership and its vision for the future,” said Phil Hickey. “Having used their products successfully over the years, I’ve seen the results they can produce for restaurateurs.”
Mar 2, 2011 7:18 AM

Yeah, that seems two-faced

BoardMember.com passes on some numbers from the Manhattan Institute for Policy Research about organized labor groups' efforts to limit executive compensation at public companies.
Feb 25, 2011 12:03 PM

J. Alexander's director stepping down

Veteran finance attorney Brad Reed has told his fellow directors of J. Alexander’s that he will not stand for re-election at the restaurant chain's annual meeting of shareholders in May. Reed, who joined Bass Berry & Sims in 1964, has been on the board of Nashville-based J. Alexander's since 2000.
Feb 25, 2011 7:34 AM

Former BMI exec named to Gannett board

John Cody, the former CFO and COO of Broadcast Music Inc., has been elected to the board of directors of publishing giant Gannett Co. Cody stepped down from his post at BMI last November.

Feb 24, 2011 10:20 AM

Well, that makes one of us

The number of Tennessee-based publicly traded companies with a woman in the CEO post has risen by a factor of infinity since last year — to one. WPLN's Blake Farmer had the report last week on the results of CABLE's annual look at the number of women in director and officer roles for public companies. The sole CEO in Tennessee is Amy Miles of Knoxville-based Regal Entertainment Group.
Feb 21, 2011 7:14 AM

Investor replaces Brookdale director

Fortress Investment Group, the largest holder of Brookdale Senior Living shares, has named Randal Nardone to the board of the Brentwood-based nursing home operator. Nardone replaces Tobia Ippolito, a fellow Fortress exec who had been a Brookdale director since February 2009.
Jan 31, 2011 8:02 AM

BlueCross boss joins First Horizon board

Vicky Gregg, the CEO of BlueCross BlueShield of Tennessee, has been elected to the board of directors of First Horizon National Corp., the parent of First Tennessee Bank. Gregg has headed up BlueCross, which provides health benefits to more than 24,000 companies, since February 2003.
"She has agreed to share with us her many years of executive experience in the health care industry, which is so important given the growing impact that health care will have on First Horizon and its customers. She also brings extensive experience from serving on the boards of numerous non-profit and trade organizations and broad knowledge of how to run a large company."
Jan 20, 2011 7:55 AM

Tenet adopts poison pill, CHS calls it

In an attempt to deter a takeover by Community Health Systems, Tenet Healthcare has adopted a new stockholder-rights agreement with a "poison pill" provision and pushed its annual shareholder meeting to November. Under a board-approved plan announced Friday afternoon, Tenet says that if an "acquiring person" buys more than 4.9 percent of the company's outstanding shares, the company will distribute preferred stock purchase rights to other stockholders, potentially creating "significant dilution" of the acquiring person's holdings. Tenet said the move will help it protect its $2 billion in net operating loss carry-forwards —  which can't be used for tax purposes if the company experiences a change in ownership. In addition, Dallas-based Tenet said it amended its bylaws so it can push its 2011 shareholder meeting to Nov. 3 — 18 months after its 2010 meeting and four months later its previous bylaws would have allowed. After Tenet rebuked CHS' unsolicited $7.3 billion acquisition offer, CHS had planned to nominate a slate of directors to Tenet's board. Franklin-based CHS responded to Tenet's actions with the following statement:
“Tenet shareholders should be deeply disappointed that their Board’s response to a compelling 40% premium offer is a double-barreled entrenchment strategy – facilitating a significant delay of their 2011 Annual Meeting and installing a poison pill. We are confident that Tenet shareholders will see these steps for what they are: the actions of a Board that is not working for them. Rather than resorting to delaying tactics, Tenet should engage with us in good-faith discussions to complete a mutually beneficial transaction.”
SEE ALSO: Why CHS thinks the Tenet acquisition is 'the right story,' chatter about other potential Tenet suitors and more from our ongoing blog coverage.
Jan 10, 2011 7:01 AM