All articles tagged with #shareholder influence
Activist hedge fund Parvus Asset Management is building a stake in Novo Nordisk, the maker of Ozempic, aiming to influence the appointment of the company's new CEO amid a 50% share price decline driven by disappointing drug trial results and increased competition, despite Novo Nordisk's large market cap and the dominance of its foundation shareholder.
Tesla CEO Elon Musk is advocating for the creation of a new class of super-voting shares to give him "strong influence but not control" over the company, citing the risk of activist shareholders steering it in the wrong direction. This move comes amid disappointment over Tesla's recent earnings report and a downbeat production outlook. Musk's request for a 25% stake in the company to grant him the desired level of power raises concerns about diluting existing shareholders' ownership and potential criticism of the board's deference to Musk.
Vivek Ramaswamy, a GOP presidential candidate, has claimed to have influenced Disney through his investment firm, Strive Asset Management, in his fight against the company's "political agendas." However, it has been revealed that Ramaswamy and his fund owned a minuscule amount of Disney stock, undermining his claims of significant influence. Ramaswamy's conservative credentials have been built on his opposition to woke culture and corporate activism, but his limited impact on Disney raises questions about his ability to deliver on his promises. Additionally, Ramaswamy's past as a pharmaceutical company founder may pose a political liability, given public concerns about the role of pharmaceutical profits in the cost of prescription drugs.