We Are the Council for Investor Rights and Corporate Accountability.
Institutional investors view the Securities and Exchange Commission’s proposed rules for proxy advisory firms and shareholder resolutions much differently than […]
When developing health, safety, consumer and environmental protections, agencies depend upon truthful feedback from the public. But lately, corporate malefactors […]
A top Senate Democrat is calling for federal financial regulators to shelve all their rulemaking projects that aren’t directly related […]
The SEC’s attempt to impose new regulations on proxy advisory firms has triggered some “pretty harsh” feedback, a top official […]
Investor protections are under threat, and the culprit is the Securities and Exchange Commission. Catering to the pleas of corporate […]
In recent weeks the SEC has proposed regulations that in our view will undermine financial analyst independence. As an organization […]
“Increasingly, activists are offering more ideas about a company’s future. They often seek board seats and try to persuade management and other shareholders that their strategy for a company is superior. Even some corporate defenders say activists these days are more informed about companies and industries. Though activists remain controversial, and still sometimes push to sell a company quickly, their successes in creating value have increased shareholders’ expectations that chief executives engage with them.”
“On the whole, Mr. Icahn and his imitators help to improve corporate performance by stirring up much-needed debate about strategy and leadership, just as in democracies the government of a country is improved by the existence of an effective opposition. That is a respectable calling.”
"Perhaps the biggest recent change, say both those on offense and defense in the activism game, is the higher level of engagement between the two sides. ... Even mainstream investors — including mutual fund managers like Fidelity and BlackRock — have become more emboldened to talk to management about their concerns, at least in private. Before, representatives of these firms would have shied away from such discussions, fearing that they might lose access to senior executives. Now, though, they feel more confident about speaking their minds."
“Once viewed as fighters from the fringe who would be kept far from deal talks of two iconic companies, activist investors have won acceptance from some executives and boards, who now sometimes court their detailed analysis and thinking on decision making.”