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Valeant to replace CEO, adds activist investor to board

2016-03-21 23:21:02| Biotech - Topix.net

Embattled drug company Valeant Pharmaceuticals says it is looking for a new CEO and has added activist investor William Ackman to its board of directors. Valeant Pharmaceuticals International Inc. says current CEO J. Michael Pearson will stay until his replacement has been appointed.

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Valeant stock suffers worst-ever day as activist Bill Ackman pledges proactive role

2016-03-16 03:53:00| Biotech - Topix.net

Activist investor Bill Ackman said Tuesday his Pershing Square Holdings Ltd. hedge fund would take a "much more proactive role" in protecting its losing investment in Valeant Pharmaceuticals International Inc., after a grim outlook and fears of a possible default sent that stock sharply lower. closed down 51% at $33.51, marking their worst-ever one-day performance, after the company slashed earnings and sales guidance and said it may breach loan covenants if it fails to produce an already delayed annual report by April.

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Activist investors question United Airlines CEO's board role, pay

2016-03-13 14:52:27| Railroads - Topix.net

The two hedge funds that launched a boardroom fight with United Continental Holdings Inc last week oppose the airline's plans to give Chief Executive Oscar Munoz the additional role of chairman and have concerns about his compensation, according to a person familiar with the matter. The funds, PAR Capital Management Inc and Altimeter Capital Management LP, on Tuesday described United's performance as "inexcusable" and asked shareholders to consider six new directors for the company's board, including former Continental Airlines chief Gordon Bethune.

Tags: united board question pay

 

Activist investors question United Airlines CEO's board role, pay

2016-03-13 13:57:34| Airlines - Topix.net

The two hedge funds that launched a boardroom fight with United Continental Holdings Inc last week oppose the airline's plans to give Chief Executive Oscar Munoz the additional role of chairman and have concerns about his compensation, according to a person familiar with the matter. The funds, PAR Capital Management Inc and Altimeter Capital Management LP, on Tuesday described United's performance as "inexcusable" and asked shareholders to consider six new directors for the company's board, including former Continental Airlines chief Gordon Bethune.

Tags: united board question pay

 

Yahoo snubs activist shareholder with 2 new directors

2016-03-11 09:03:47| Semiconductors - Topix.net

Yahoo has set up a battle for control of its board by appointing two directors likely to further agitate an activist shareholder threatening an attempt to oust CEO Marissa Mayer unless she bows to demands to sell the company's Internet operations. Yahoo Inc. named former Morgan Stanley investment banker, Catherine Friedman, and Eric Brandt, chief financial officer of computer chipmaker Broadcom Corp. The decision, announced Thursday, increases the likelihood that the unhappy shareholder, Starboard Value, will nominate an opposing slate to run against Yahoo's board of nine directors in a proxy fight.

Tags: yahoo directors shareholder activist

 

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