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Meta in Talks to Reincorporate in Texas or Another State, Exit Delaware

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Meta Platforms is reportedly in discussions to move its incorporation from Delaware to Texas or potentially other states, according to a Wall Street Journal report. The company has been in talks with Texas officials about the shift, although the change would not impact Meta’s corporate headquarters, which will remain in Menlo Park, California.

While the discussions began before President Donald Trump’s administration, the potential reincorporation mirrors the decision made by Elon Musk, who moved Tesla and SpaceX’s incorporations to Texas. Texas is often seen as offering a more favorable legal and regulatory environment, particularly in areas like taxation and corporate governance. These benefits could appeal to businesses looking to reduce costs and streamline their operations.

A Meta spokesperson confirmed that the company does not plan to shift its headquarters but declined to comment further on the reincorporation process.

 

ISS Advises Shareholders to Oppose Virtual AGMs at Siemens

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Institutional Shareholder Services (ISS), a prominent proxy advisory firm, has recommended that Siemens shareholders vote against the continuation of virtual annual general meetings (AGMs) in the coming years. The proposal will be put to a vote at Siemens’ AGM on February 13.

Siemens has held virtual AGMs since 2021, but maintaining this practice requires a three-quarters majority approval. ISS, however, has expressed concerns over Siemens’ lack of commitment to reinstating in-person meetings, stating that the company’s justification for virtual-only AGMs is “not convincing.”

According to financial sources, Siemens has reserved the Munich Olympiahalle for 2026, suggesting it is preparing for a potential return to physical meetings if shareholders reject the virtual format. While Siemens has not commented on the booking, a spokesperson defended the digital format, citing “very good experiences” with virtual AGMs.

With ISS opposing the measure, Siemens now faces uncertainty over whether it can secure the necessary votes to continue virtual shareholder meetings beyond this year.

 

Indra Appoints Ángel Escribano as New Chairman Following Leadership Change

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Spanish defense and technology company Indra (IDR.MC) announced the appointment of Ángel Escribano as its new chairman on Sunday. This leadership change follows former chairman Marc Murtra’s decision to accept an offer to become the chief executive of telecom giant Telefónica (TEF.MC).

The decision was finalized during an extraordinary board meeting convened to address the leadership transition. Murtra was appointed CEO of Telefónica on Saturday, succeeding José María Álvarez-Pallete at the request of Spain’s state-owned fund SEPI.

In its official statement, Indra’s board expressed gratitude for Murtra’s contributions, highlighting his role in driving a significant transformation within the company and laying the groundwork for a strong and sustainable business strategy.

Ángel Escribano, the incoming chairman, is the CEO and owner of Escribano Mechanical & Engineering, a private company operating within the military industry. He has been a shareholder of Indra since May 2023, bringing experience and expertise in the defense sector to his new role.