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John Hess

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Transocean chairman voted out, $2.24/share dividend backed

ZUG, Switzerland (Reuters) - Transocean Ltd shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.But shareholders rejected Icahn's proposed $4-per-share dividend and opted instead for the board-supported payout of $2.24 per share, the Switzerland-based company said.Transocean shares closed down 1.3 percent to $54.03 on the New York Stock Exchange. The Swiss shares closed 1.4 percent higher.Icahn, after disclosing his 5.6 percent Transocean stake in January, campaigned to shake up the board and extract a higher dividend that Transocean called "unsustainable," while offering the $2.24 per share in response.Icahn and Transocean spent the past few months making their cases to investors by attacking the others' director nominees and strategic plans. Transocean viewed the near-80 percent shareholder support for its dividend, and the b...

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  1. Hess 1st-Quarter Profit Doubles on Asset-Sales Gains

    Hess Corp.'s (HES) first-quarter earnings more than doubled on gains from asset sales and got a boost from higher oil and natural gas prices as the company prepares ...

  2. Hess and Its Activist Shareholder Trade Barbs As Meeting Nears

    As Hess Corp.'s (HES) annual meeting approaches, a proxy battle between the company and a dissident hedge fund investor is heating up.Elliott Management Corp. filed ...

  3. Hess Cites Potential Governance Issues in Dissident Holder's Plan

    Hess Corp. (HES) again urged shareholders to support its slate of board candidates as the exploration-and-production company continued its criticism of dissident inv...

  4. Hess to Shareholders: Elliott Board Nominees Won't Be Independent

    Hess (NYSE:HES) once again sent a letter to shareholders and urged them to support its slate of board candidates, criticizing activist shareholder Elliott Management...

  5. Elliott Management Says Hess CEO Sought Support in Proxy Fight From Relational Investors

    Elliott Management Corp. said it is surprised Hess Corp.'s (HES) directors would allow Chairman and Chief Executive John Hess to seek activist investor Relational In...

  6. Elliott Management: Hess CEO Sought Support in Proxy Fight From Relational Investors

    Elliott Management Corp. said it is surprised Hess Corp.'s (HES) directors would allow Chairman and Chief Executive John Hess to seek activist investor Relational In...

  7. Hess to Exit Downstream Business, Raise Dividend

    Hess Corp. (HES) announced Monday it is further whittling its operations as it aims to turn itself into a pure exploration and production company amid growing shareh...

  8. Hess to Exit Businesses, Focus on Exploration

    Energy giant Hess Corp. (NYSE:HES) said it is more than doubling its quarterly dividend and initiating a share buyback program of up to $4 billion, while it looks to...

  9. Hess to Exit Downstream Business; Unveils Share Buyback, Dividend Increase

    Hess Corp. (HES) said it is exploring options for its entire downstream business and pruning its Asian portfolio, while also unveiling a share buyback program of up ...

  10. Hess Swings to Profit on Refining Operations

    Hess Corp. (HES) swung to fourth-quarter profit as the oil-and-gas producer's refining and marketing operations returned to the black, but the announcement wasn't en...

  11. Hess Has 4th-Quarter Profit; Refining Operations Turn Profitable

    Hess Corp. (HES) swung to fourth-quarter profit as the oil-and-gas producer's refining and marketing operations returned to the black, but the announcement wasn't en...

  12. Hess CEO: Will Respond to Activist Investor Ideas Soon

    Hess Corp. (HES) chief executive John Hess said the company would soon have a response to proposals put forward by an activist investor, but defended the company's g...

  1. Proxy Clash Over at Hess

    Hess Corp. (NYSE:HES) said Thursday it reached an agreement with Elliott Management to give the activist shareholder three seats on the oil company's board, bringing...

  2. Transocean chairman to step down after Icahn attack

    Transocean Ltd said on Monday that Chairman Michael Talbert will step down later this year, in a move that comes just days before the culmination of a fight between ...

  3. Hedge fund nominees to Hess board forgo controversial pay scheme

    An activist hedge fund's nominees to the Hess Corp board of directors said they were waiving their right to receive a controversial pay package under which the fund ...

  4. Elliott's Nominees to Hess Board Abandon Compensation Plan

    Five potential Hess Corp. (NYSE:HES) directors nominated by activist shareholder Elliott Management said Monday they waived their right to receive payments from the ...

  5. Hess to split chairman, CEO roles as vote looms

    Hess Corp plans to split the roles of chief executive and chairman and appoint a former General Electric executive to head its board, countering efforts by an activi...

  6. Hess to Separate Chairman, CEO Roles

    Oil producer Hess Corp (NYSE:HES), under pressure from an activist investor, said it plans to appoint a former General Electric Co (NYSE:GE) executive as chairman ne...

  7. ISS backs hedge fund's nominees to Hess board

    Influential proxy advisory firm ISS recommended that Hess Corp shareholders elect five new board members nominated by activist hedge fund Elliott Management, arguing...

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