Activism Archive

Jun 03, 2021
Issuers exploring ‘other avenues’ of communication in activism defense, advisers say
As activist activity shows signs of picking up relative to last year, there’s scope for issuers to learn lessons from the forced adoption of one-to-many digital communications, advisers say. In 2020, shareholder activists pulled back from planned campaigns, with the fewest number of campaigns waged against public companies since 2015, according to data from Activist Insight. But that pent-up energy has been put toward campaigns this season, advisers say....
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May 27, 2021
Activist nominees elected to ExxonMobil board
ExxonMobil acknowledged that shareholders at its AGM yesterday voted to install two director nominees from activist investor Engine No 1. In a statement available at the time of writing, the company says that based on preliminary vote estimates shareholders elected eight ExxonMobil nominees to the board and that vote results for five nominees are too close to call. One of Engine No 1’s nominees was not elected, according to the energy company. Shareholders...
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May 13, 2021
Support for BP climate resolution more than doubles
A ‘significant’ number of shareholders (20.7 percent) voted in support of a proposal calling on BP to set tougher emissions targets at its AGM yesterday. While this is a rejection of the proposal and far off a majority, it is more than double the 8.4 percent support garnered by the last proposal put forward at the company by climate activist Follow This in 2019. Follow This called on BP to publish short, medium and long-term targets to reduce emissions that are ...
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Apr 06, 2021
Say on climate builds momentum
Inspired by say-on-pay voting, a British activist hedge fund is calling on companies to publish a climate transition plan and give shareholders a vote on the contents. The Children’s Investment Fund (TCI), headed by billionaire investor Sir Christopher Hohn, wants hundreds of companies to hold say-on-climate votes within the next two years. So far, only a handful of companies have embraced the idea, but they include major names such as Unilever, Rio Tinto and Roy...
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Feb 19, 2021
The week in investor relations: Republicans fight Nasdaq diversity plans, flying taxi fraud denial and a 30-year high in Japan
– Republicans on the US Senate Banking Committee urged the SEC to reject a proposed rule from Nasdaq requiring public companies to adopt new racial and gender diversity standards for their boards, according to Bloomberg. They argue Nasdaq should not use its ‘quasi-regulatory authority to impose social policies’ and say the p...
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Jan 06, 2021
Proxy campaign outlook: What’s in the activists’ playbook for 2021?
Looking ahead at 2021, corporate management teams will be facing a very different operating environment from the one that prevailed through most of 2020. While the availability of Covid-19 vaccines may allow the economy to return to something akin to normalcy, some changes accelerated by the coronavirus – such as working from home, increased digitization of commerce and shifts in consumer behavior – will leave a lasting impact on businesses. At the same time, a heighte...
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Dec 11, 2020
The week in investor relations: The Vatican’s Inclusive Capitalism, UK firms face activism risk and Airbnb’s IPO
– Pope Francis gave his blessing to a new alliance that includes large investors, companies, unions and foundations, reported the Financial Times (paywall). Founding members of the Council for Inclusive Capitalism include the managers of around $10.5 tn in assets, companies with a combined market cap of more than $2 tn and groups representing more than 200 mn workers ar...
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