Report: Shareholder Activism Jan-June 2019

Activist Insight on Shareholder Activism and Engagement in the first half of 2019: The first six months of 2019 have provided plenty of interesting activist activity in what seems like a longer proxy season than last year’s. Late-season fights at HomeStreet and EQT (this month’s campaign in focus) have kept us on our toes, as…

Investors with $34 trillion demand urgent climate change action – Reuters

Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 biggest economies meeting this week.In an open letter to the “governments of the world” seen by Reuters, groups representing 477 investors stressed “the urgency…

Abortion Likely to Spark Shareholder Activism

The recent adoption of unprecedented restrictions on abortions in states including Georgia, Louisiana, Missouri, and Alabama is a legal and political controversy that is likely to become a corporate governance controversy as well.  Judd Legum at Popular Information dug through the disclosure of corporate political contributions and revealed that these corporations supported politicians who sponsored…

Jesuits Get Majority Vote at Private Prison Company

The Jesuits West Province recently helped pass a shareholder resolution to hold GEO Group, one of the largest for-profit prison and detention center operators in the U.S., accountable for human rights and treatment of detainees. Working in partnership with investors and members of the Interfaith Center on Corporate Responsibility (ICCR), the Jesuits requested that GEO…

Activists launch campaign to remove Zuckerberg from Facebook board | TheHill

Two activist groups on Monday launched a campaign to oust CEO Mark Zuckerberg from Facebook’s board of directors, arguing his “sweeping” control of the company presents a barrier to civil rights and privacy reform. Digital civil rights group Color of Change and Majority Action, a corporate accountability organization, told the Securities and Exchange Commission that they will be urging Facebook shareholders to…

Catholic Shareholder Activists Challenge Private Prison System | Sojourners

A shareholder proposal from a Catholic group has led to an agreement from the management and board of a corporation that operates private prisons. But the proponents are not sure how significant that agreement will be. These findings were detailed in “Proposal 4” on the proxy statement that GEO published ahead of the shareholders meeting….

Bayer shareholders rebuke CEO over Monsanto deal | Financial Times

Bayer’s supervisory board stood behind its chief executive and top management on Friday in spite of losing a shareholder confidence vote in the fallout from the German pharmaceutical group’s $63bn acquisition of Monsanto and the subsequent drop in its share price. About 55 per cent of shareholders voted against ratifying the actions of the management…

Bed Bath & Beyond Shakes Up Board of Directors

Considering the major shakeup Bed Bath & Beyond (NASDAQ:BBBY) just announced for its board of directors, it seems management believes the activist investors pushing for a complete overhaul of the home goods retailer might have a good chance of success. The home goods retailer announced it was replacing five directors and increasing the number of…

Mutual funds start to put their mouth where their money is | Reuters

Corporate America’s biggest shareholders have traditionally been content with sharing their views on a company’s strategy privately with management. But now some mutual funds are beginning to rethink their stance, amid pressure from investors for them to justify the fees they charge and a push to boost the performance of their holdings. Wellington Management Company…