Ben & Jerry’s Board Shakeup as Chair and Directors Are Removed
Magnum is attempting to remove the chair of Ben & Jerry's, indicating potential corporate governance conflicts or shareholder activism within the company.
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Shareholder Activism
All articles tagged with #shareholder activism
Activist Investors Push to Shame Underperforming U.S. Banks
HoldCo Asset Management, a small hedge fund, is actively challenging underperforming regional banks in the US through public campaigns and proxy battles, aiming to improve shareholder value and accountability, and has already influenced major deals like Comerica's sale to Fifth Third.
Activist Support Boosts Opendoor Shares Amid Turnaround Hopes
Shares of Opendoor surged 15.5% amid retail investor enthusiasm and activist interest, with Eric Jackson signaling plans for shareholder activism to push for operational improvements and leadership changes, amid broader industry tailwinds like falling interest rates and potential crypto integration.
Netflix Shareholders Vote to Oust Lead Director Jay Hoag
Netflix shareholders voted out director Jay Hoag due to poor attendance and lack of disclosure, marking a rare instance of shareholder repudiation; Hoag offered to resign, and the board will decide whether to accept it, amid broader scrutiny of corporate governance and executive compensation.
Tesla Investors Call for Elon Musk to Commit Full-Time Amid Leadership Changes
A group of major pension funds has demanded Elon Musk work at least 40 hours a week at Tesla and called for governance reforms, citing concerns over Musk's absence and leadership crisis at the company. The investors, managing about $950 billion, are pushing for a new pay structure and a more independent board to ensure Musk's full-time commitment, amid ongoing shareholder tensions and Tesla's recent stock decline.
Elliott Invests $2.5B in Texas Instruments, Calls for Better Cash Flow
Hedge fund Elliott Management has taken a $2.5 billion stake in Texas Instruments, urging the company to adopt a more flexible capital expenditure strategy to improve free cash flow. Elliott's letter suggests that Texas Instruments' current rigid capex plan has significantly reduced free cash flow and negatively impacted shareholder returns. The hedge fund proposes a "dynamic capacity-management strategy" to better align with market demand and enhance financial performance. Texas Instruments is reviewing the letter and remains focused on decisions that benefit all shareholders.
"ExxonMobil Faces Global Backlash Over Shareholder Activism Dispute"
Officials from 19 Republican U.S. states have urged major money managers not to vote against ExxonMobil's directors in an upcoming meeting, supporting the company's lawsuit against climate activists. This contrasts with Democratic officials and Norway's sovereign wealth fund, who oppose the board's actions, highlighting a divide over Exxon's climate policies and shareholder rights.
"Vince Tyra Resigns as Gildan CEO Amid Board Shakeup and Activist Victory"
Vince Tyra resigned as CEO of Gildan Activewear Inc. after less than six months, along with the entire board, following a contentious battle with shareholders who reinstated former CEO Glenn Chamandy. Tyra, who has a history of corporate leadership, helped stabilize the company during the dispute but decided to step aside ahead of a crucial shareholder meeting.
"Disney CEO Bob Iger Clarifies Company's Stance on Messaging and Entertainment"
Disney CEO Bob Iger stated that the company's primary goal is to entertain rather than convey messages in its content, dismissing criticisms from activist shareholders like Nelson Peltz and Elon Musk. Despite recent shareholder support, Iger faces the challenge of revitalizing Disney's performance and succession planning. The company is focused on priorities such as making Disney+ profitable, integrating Hulu, and navigating cultural and strategic shifts in the entertainment industry. Additionally, there is speculation about potential successors, with Dana Walden being considered a strong contender for the CEO position.
"Disney's Future: The High-Stakes Battle for Board Control"
Walt Disney Co. faces a pivotal board election as billionaire Nelson Peltz and activist group Blackwells Capital challenge for seats, turning the vote into a referendum on CEO Bob Iger's leadership amid struggles with stock performance, box-office results, and succession planning. Peltz's campaign accuses Disney of poor financial performance and unnecessary cultural entanglements, while Disney defends its direction and board members. The outcome will shape Disney's future, with potential implications for Iger's turnaround plan and pressure to boost profits and shareholder returns.
"ExxonMobil's Legal Battle Against Climate Activist Shareholders"
ExxonMobil is suing investors who repeatedly file shareholder proposals urging the company to reduce pollution and address climate change, claiming that the investors are abusing the system. The lawsuit reflects growing tensions between corporations and activist investors pushing for stronger climate action. While ExxonMobil insists the case is not about climate change, critics argue that it's part of a broader effort to limit shareholder activism on social and environmental issues. The lawsuit comes amid increasing pressure on companies to take more aggressive climate strategies as global temperatures continue to rise, and as corporations face lawsuits from states and municipalities over their contributions to climate change.
"Carl Icahn's Influence: Gaining Board Seats and Building Value"
Carl Icahn, a prominent activist investor, has secured two seats on JetBlue's board of directors, signaling a potential shift in the company's direction. With the recent departure of the CEO and the blocked merger with Spirit, JetBlue is at an inflection point, and Icahn's presence on the board could influence strategic decisions to enhance shareholder value. The airline, facing challenges with cost controls and reliability, aims to cut costs and generate new revenue, and having an experienced shareholder representative on the board may benefit investors during this critical period.
"Disney Shareholder Showdown: Activist Investor Targets Board Members for Ousting"
Nelson Peltz's Trian Partners has released a preliminary proxy statement targeting Disney board members Michael B.G. Froman and Maria Elena Lagomasino, urging shareholders to withhold their votes for them and instead vote for Peltz and former Disney CFO Jay Rasulo to join the board. Trian argues that Froman and Lagomasino lack relevant experience and oversight on compensation practices. Another activist, Blackwells Capital, has also nominated its own board slate, leading to a potential showdown at the annual meeting, with third-party firms expected to weigh in on shareholder recommendations.
"Disney Shareholder Blackwells Capital Criticizes Rival Nelson Peltz's Lack of Strategic Ideas for Shareholder Benefit"
Disney shareholder Blackwells Capital criticizes Trian Group for lacking strategic ideas to benefit shareholders, as Trian initiates a proxy war by nominating Nelson Peltz and former Disney CFO Jay Rasulo to the board. Disney faces operational challenges and criticism over its stewardship of ESPN. Blackwells nominates its own candidates for Disney's board and criticizes the company's agreement with ValueAct Capital Management. Disney urges shareholders not to consider activist nominees and prepares for a potentially contentious annual shareholder meeting.
"Nelson Peltz Launches Proxy War Against Disney's Board"
Billionaire investor Nelson Peltz, who controls roughly $3 billion worth of Disney stock through his firm Trian, has been in a year-long battle with Disney's management. He recently visited Disney World without special passes or a tour guide, and is seeking a board seat for himself and former Disney exec James Rasulo, citing governance issues and the streaming business's lack of profitability. Peltz's website, RestoretheMagic.com, claims that Disney shareholders and fans are not feeling the love, and that investors would have been better off putting money into the S&P 500 or one of its competitors.