Nelson Peltz, the Trian Management founder who is leading a proxy fight against the entertainment company, is targeting Disney board member Michael B.G. Froman in the battle. On Thursday, Peltz’s firm released a proxy form and began messaging Disney shareholders, urging them to withhold votes for Froman, and to vote for Peltz instead. Trian also…
Tag: proxy contest
Possible Trial Proxy Contest at Disney
[As Disney’s former CEO Bob Iger returns, the company] is facing a proxy fight from activist investor Nelson Peltz and his fund Trian Partners. Trian has nominated Peltz to serve on the board. In a presentation published on Jan. 11, the investment firm described many of Disney’s challenges as “self-inflicted” and advocated for the entertainment…
Agenda – Icahn Mulling Proxy Fight at McDonald’s Over … Pigs
The longest-running and highest-profile activist of them all may be mounting a new proxy contest, the first over what might be considered an ESG issue. [Carl Icahn appears to be preparing what could be his first foray into socially conscious investing with inspiration from an unlikely source: pigs. According to the Journal, Icahn is reportedly…
Activist Seen Winning 3rd ExxonMobil Seat in Preliminary Vote – Bloomberg
Exxon Mobil Corp. activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry. The initial counts show the newest nominee from Engine No. 1’s slate elected to Exxon’s 12-member board is private-equity investor Alexander…
VEA Vice Chair Nell Minow on NPR Discussing Engine No. 1 and ExxonMobil
VEA Vice Chair Nell Minow talked about “the biggest upset since David and Goliath,” the proxy contest win by Engine No. 1 at ExxonMobil on NPR’s Morning Edition this morning.
Memo to Corporate Directors: Three Lessons from the Exxon-Mobil Activist Victory
Exxon-Mobil spent $35 million, added new directors, and made promises to do better, all in an effort to defeat the dissident slate nominated by activist fund Engine No. 1. It failed, and, at this writing, Exxon-Mobil has lost at least two seats on the board of directors and votes for two others were still being…
Activist Investors Nominate Nine Directors to Kohl’s Board – WSJ
A group of activist investors has a big stake in Kohl’s Corp. KSS 8.48% and is attempting to take control of the department-store chain’s board, according to people familiar with the matter. A group that includes activists Macellum Advisors GP LLC, Ancora Holdings Inc. and Legion Partners Asset Management LLC, as well as 4010 Capital…
Proxy Contest at Exxon
Engine No. 1 has formally nominated the four directors it intends to install to Exxon’s board, launching a campaign the activist says will “ensure a clean break” for the oil major. The move comes less than two months after newly established activist Engine No. 1 wrote a letter to Exxon’s board criticizing the company’s performance….
NewsGuild appeal to Tribune shareholders shines light on Alden’s downsizing, shrinking finances – DFM Workers
Saying it is “alarmed and concerned,” The NewsGuild has launched a proxy campaign to Tribune Publishing shareholders that raises questions about the shrinking assets of Alden Global Capital, the hedge fund owner of rival newspaper chain MNG Enterprises. The Guild, which represents news workers at more than a dozen Alden-owned papers, filed the letter with…
A Win in Proxy Fight for Universal Proxy Card
For the first time, a dissident shareholder group won board control in a proxy contest using a “universal proxy card” that included the names of both the company’s and the dissident’s slates. The battle for a majority of the board seats at EQT Corporation was waged by brothers Toby and Derek Rice, whose November 2017…
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