02 April 2014
The gap between board perceptions and those of shareholders has fuelled activism
Shareholder activism is on the rise. It is no longer a phenomenon limited to small companies, but
has reached the very largest, from PepsiCo to Apple. According to the New York Times, we have reached a tipping point in favour of shareholders.
Every board should take note. They should also be quizzical about why this has happened, because every board I know is committed, one way or another, to deliver maximum shareholder value. Yet the very raison d’être of the activist is to extract better...