Two massive pension funds are getting together to wage a proxy battle that would completely wipe out and rebuild Yahoo's Board of Directors at the company's meeting tomorrow, but it's time to get real — they probably won't get what they want. At least not exactly.
Bill Ackman is back. The billionaire activist investor's latest target Air Products said this morning that it's looking for a new CEO. Three new independent directors are also joining the industrial gas product maker's board. Ackman's Pershing Square Capital has already agreed to vote in favor of them.
MONTREAL – Rona Inc. is paying its former chief executive officer a $4.5-million severance after repudiating his growth-at-all-cost strategy that resulted in six straight years of earnings declines.
Canada’s largest independent home improvement chain dismissed Robert Dutton on Nov. 8, 2012 after large shareholders fed up with the company’s anemic return on capital pressed the board to make a management change.
TOKYO (Reuters) - Japan's Sony Corp on Tuesday rejected a proposal from activist shareholder Daniel Loeb to partially spin off its entertainment business but the billionaire investor vowed to keep talking with the company and to explore other options.
CALGARY — Former cabinet minister Jim Prentice has joined Canadian Pacific Railway’s board of directors.
The Calgary-based railway says the appointment is effective as of Friday.
During his time in government, Prentice was in charge of the Environment, Industry and Indian Affairs and Northern Development portfolios.
He’s currently senior executive vice-president and vice chairman at the Canadian Imperial Bank of Commerce and serves on the boards of Bell Canada and Coril Holdings Ltd.
Activist investor Daniel S. Loeb is committed to his battle with Sotheby’s (BID) management, with his latest announcement of nominating himself to the company’s board along with two other people, namely Harry Wilson of MAEVA Group LLC and Olivier Reza of the House of Alexandre Reza.
This morning Bill Ackman announced that he would be looking for a new CEO for JC Penny. As a result, the stock shot up. Unfortunately, now it seems like the company's board feels Ackman, who owns 17.74% of the retailer, spoke too soon.