In Search of Value: Shareholders, Activists and the Board - Agenda
March 16, 2017
- David Chun, Chief Executive Officer, Equilar, Inc.
- Dylan James, Vice President, Nasdaq
Hunting Their Prey: How Activists Identify Their Targets and Build Support
- Allison Bennington, Partner & General Counsel, ValueAct Capital
- Yumi Narita, Vice President, Investment Stewardship Team, BlackRock
- Scott Winter, Managing Director, Innisfree M&A Incorporated
- Moderator: Ken King, Partner, Skadden, Arps
- Trends in activist campaign agendas
- Key board governance vulnerabilities
- Growing support from institutional investors and pension funds
Collaborative Case Study: Responding to an Activists’ Knock at the Door
- Paul DeNicola, Partner, PwC’s Governance Insights Center
- Thomas Ivey, Partner, Skadden, Arps
- Part I: Attendees will divide into small groups to walk through a scenario for which a board realizes it might be a potential target – what questions should the board ask, and what should its shareholder outreach program entail?
- Part II: The company receives a letter from an activist – what are the pros and cons of ignoring or engaging with the activist, and when should a board consider negotiating or settling?
- Part III: Activists won 58% of all proxy fights and won 214 board seats in 2015 – how does a board make sure it is prepared?
Creating Value: Activists’ Role on the Board
- Peter Feld, Managing Member, Portfolio Manager & Head of Research, Starboard Value LP
- Rick Hill, Board Member, Autodesk, Marvell and Yahoo
- Moderator: David Chun, Chief Executive Officer, Equilar, Inc.
- Evaluate activists’ contributions to board discussions
- Integrate activist-appointed directors into the board culture
A Good Offense is Your Best Defense: Developing a Strong Shareholder Engagement Plan
- Bill Anderson, Senior Managing Director, Evercore
- Abe Friedman, Founder & Chief Executive Officer, Camberview
- Cathy Lego, Board Member, IPG Photonics, Lam Research; Former Board Member, SanDisk, Fairchild
- Terry Ward, Partner, PwC’s Governance Insights Center
- Moderator: Ron Schneider, Director, Governance Services, Donnelley Financial Solutions
- Use investor insights to inform board decision-making
- Align views to create allies for the company in an activist situation
- Access the same data investors use to inform their decisions
- Understand the different roles of portfolio managers and proxy voting groups, and the appropriate timing and topics for engaging with both
Cocktail Networking Reception