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Tech sector company board directors are looking for board members with the right skills to address five key technology industry trends.
A successful shareholder activist campaign will galvanise others to come to Australia, says Credit Suisse banker Chris Young
The U.S. activist hedge fund manager Elliott is once again in the press, this time regarding its stake in the engineering firm Arconic. The hedge fund manager’s persistence in pushing for the replacement of Arconic’s CEO, Klaus Kleinfeld, finally yielded results, although probably not for the reasons one would think. Kleinfeld’s unwise response was to write a personal letter to Elliott’s founder, Paul Singer. This was then shared with the company’s board, who found its contents to be unacceptable.
MODERN bosses are a resilient bunch who can handle everything from Twitter storms to takeovers. But one thing drives many of them berserk: activist hedge funds, which buy stakes in companies and lobby for change. Last month Klaus Kleinfeld, the boss of Arconic, an industrial firm, succumbed to a bout of “activist apoplexy”.
The US activist hedge fund manager Elliott is once again in the press, this time regarding its stake in the engineering firm Arconic. The hedge fund manager’s persistence in pushing for the replacement of Arconic’s CEO, Klaus Kleinfeld, finally yielded results, although probably not for the reasons one would think. Kleinfeld’s unwise response was to write a personal letter to Elliott’s founder, Paul Singer. This was then shared with the company’s board, who found its contents to be unacceptable.
After nearly five years of cost-cutting to boost efficiency, new CEO Keith Creel is switching Canada's second-largest railroad company into growth mode as volumes improve
For the last 40 years, the problem of managerial agency costs—corporate managers shirking duties and diverting resources—has dominated the study of corporate law and governance. Many scholars treat the reduction of agency costs as the essential function of corporate law and governance.
Boards need to take charge of share repurchases as part of the capital management strategy of their companies.
Chief Justice Strine’s important article, Who Bleeds When the Wolves Bite?, brings a much-needed perspective to the modern corporate governance debate. Chief Justice Strine looks at the corporate governance world through the lens of what he calls the “human investors,” i.e., the ordinary individuals who are the ultimate beneficiaries of the mutual funds, pension funds, and other aggregators of investment capital that control a sizable portion of today’s public company equity securities. As the Feature emphasizes, human investors have an overriding interest in the long-term health of business enterprises, both as equity and debt investors and as wage earners. Through their lens,
A proposal to combat short-termism.
This paper looks at shareholder activism from the perspective of the revision of the EU Shareholder Rights Directive, which was approved by the European Parliam
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Institut sur la gouvernance (IGOPP)
April 26, 2017 10:01 AM
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Here's a look, public company by public company, at how much each chief executive earned in 2016.
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Institut sur la gouvernance (IGOPP)
April 21, 2017 10:03 AM
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Almost half of executives will see no salary increase this year; some larger businesses beginning to publish pay ratios
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As companies around the world announce financial results or prepare for their annual shareholder meetings, the spectre of shareholder activism is looming over many of them.
Activist investors are criticized for short-termism, but prof Alon Brav found they can bring long-term benefit https://t.co/Cg6tvypHJc
An effective response starts long before the catastrophe occurs, with governance and relationships, advance preparation, and the ability to test your practices.
In the corporate governance area, few regulations have greater importance than Rule 14a-8. Put in place in 1942, the provision requires companies to include in
Since advisory Say on Pay (“SOP”) votes became effective in 2011, ISS and Glass Lewis have exerted significant influence over the vote outcomes for these proposals. These advisors use quantitative tests to assess CEO Pay for Performance (“P4P”) alignment and supplement those quantitative assessments with a qualitative review of pay practices/program design. In these qualitative reviews, some specific design features have increasingly been called out as “problematic”; however, their impact on actual pay earned and their alignment with shareholder value have not been tested. We set out to assess the relationship of certain of these “problematic” practices with growth in shareholder value
With the pressure on to deliver results today, how do stop short-term thinking holding you back tomorrow?
The plan likely will pass, but a significant number of rejection votes could put the company back in
Billionaire activist Bill Ackman could turn his gaze across the Atlantic to terrorise UK boardrooms, he told the Standard on Tuesday. The US activist is listing his $4.6 billion (£3.6 billion) Pershing Square Holdings investment fund in London today, with hopes of attracting millions more in fresh capital. Pershing is likely to join the FTSE 250 in June. Ackman’s fund currently has no UK investments — preferring to focus on the US market — but investing in British firms is “something that we are open to”, he said.
With valuations for a number of industries considered stretched, many industry observers are wondering if tax reform, repatriation of overseas capital and deregulation can help spur a new wave of campaigns. This panel of seasoned veterans will discuss the nuanced activist strategies that make up
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Institut sur la gouvernance (IGOPP)
April 26, 2017 10:01 AM
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The current micro-cap environment is ripe for shareholder activism and can help expand the valuation of quality “growth + value” micro-cap stocks.
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Institut sur la gouvernance (IGOPP)
April 21, 2017 10:03 AM
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No one can predict when disaster will strike--but knowing what to expect if it does will buy precious time.
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Scoop.it!
