No more proxy advice, Lululemon’s succession, CEOs just sayin, and Apple’s new lawyer

Story of the Week (DR):3 from Trump: Trump Orders SEC to Review Proxy Adviser Rules in ESG Rebuke AND Trump signs executive order for single national AI regulation standard, limiting power of states AND Trump says Netflix, WBD deal could be 'problem' as son-in-law Kushner backs Paramount bid Trump directed several federal agencies to tighten regulations on proxy advisers:The S.E.C. was ordered to review rules and guidelines regarding the industry, including revising or rescinding any related to diversity, equity and inclusion (known as D.E.I.) and environment, social and corporate governance (or E.S.G.).The F.T.C. and the attorney general were directed to examine state antitrust investigations into the companies to see if there was a “probable link” between those inquiries and potential violations of federal antitrust law.And the Labor secretary was told to review regulations about the fiduciary duties of proxy advisers and others who advise managers of certain employee retirement accounts.These firms “wield enormous influence over corporate governance matters,” the executive order reads, adding that they “regularly” use their power to “advance and prioritize radical politically motivated agendas” instead of focusing on shareholder returns.CEO Moves:Lululemon Athletica’s C.E.O., Calvin McDonald, will step down as the athleisure clothing maker struggles to turn itself around. MMHis tenure had been criticized by the company’s founder, Chip Wilson.The athleisure retailer said that Calvin McDonald will step down as CEO and board member, effective January 31. Lululemon CFO Meghan Frank and chief commercial officer André Maestrini will serve as interim co-CEOs while the company searches for a new leader.McDonald has served as CEO of Lululemon since 2018, during which time he built the company into a brand powerhouse. But the company has been underperforming for more than a year, with the weakness most apparent in its core North American markeTime to let a woman runInterim co-CEO: CFO Meghan FrankBoard chair Marti Morfitt (CEO of River Rock partners, Airborne, and CNS)Director Alison Loehnis (former president and ad interim CEO of Yoox Net-a-porter group)Levi Strauss CEO Michelle GassHorrible board skills:Economics and Accounting 34%Mechanical 19%Computers and Electronics 12%Sales and Marketing 5%Administrative 5%Coca-Cola names insider Henrique Braun as CEO, replacing James Quincey Quincey will transition to the role of executive chairmanDisney wants you to AI-generate yourself into your favorite Marvel movieThe media company is investing $1bn in OpenAI – and allowing its characters to be used in generated videosTech Billionaires Are Starting Private Cities to Escape the United StatesCoinbase CTO Balaji Srinivasan shared his vision for the “ultimate exit” by tech industry elites from the “failing” United States. “I think it’s fair to say, in 2025, we have a movement”That movement is the rise of “startup societies,” a pro-corporate, anti-government coalition of tech magnates, libertarian idealists, and neoliberal economic theorists.As the Financial Times notes in new reporting on the phenomenon, the movement is indeed growing. What once was the stuff of dystopian fiction like the Bioshock franchise is now the task of some 120 startup societies throughout the world, each scrambling to erect specially-built cities to court billionaires who feel maligned by organized society.Goodliest of the Week (MM/DR):DR: Eileen Higgins will be Miami's first-ever woman mayorDemocrat Eileen Higgins is a sharp contrast to her predecessor, Republican Francis Suarez, who leaned into masculinity politics during his termBS in mechanical engineering from the University of New Mexico; MBA from Cornell University; country director of the Peace Corps in Belize; foreign service officer for the U.S. Department of State; Miami–Dade County CommissionerRepublican Francis Suarez: son of former Miami mayor Xavier Suarez; attorney with the law firm Greenspoon Marder, specializing in corporate and real estate transactionsDR: U.S. Court Strikes Down “Unlawful” Trump Ban on Wind Energy ProjectsA U.S. federal court struck down an executive order by President Trump aimed at freezing new wind energy developments across the country, agreeing with a coalition of 18 State Attorneys General that the administration’s order was “arbitrary and capricious and contrary to law.”MM: Nintendo’s 98% staff retention rate means the average employee has been there 15 yearsAssholiest of the Week (MM):Just sayin…RJ Scaringe, who recently got a mini Musk pay package and can afford a secretary: Rivian's CEO said self-driving cars shouldn't just be able to drive, but also run errands for you like a secretary: 5Joe Lonsdale, Stanford grad: Palantir cofounder calls elite college undergrads a ‘loser generation’ as data reveals rise in students seeking support for disabilities, like ADHD: 7 Palantir Chief ...