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In Search of Value: Shareholders, Activists and the Board - Agenda


skadden palo alto

March 16, 2017

1:00 - 1:30 p.m.

Registration


1:30 - 1:40 p.m.

Welcome

  • David Chun, Chief Executive Officer, Equilar, Inc.
  • Dylan James, Vice President, Nasdaq


1:40 – 2:05 p.m.

Hunting Their Prey: How Activists Identify Their Targets and Build Support

Panelists

  • 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

Highlights

  • Trends in activist campaign agendas
  • Key board governance vulnerabilities
  • Growing support from institutional investors and pension funds


2:05 – 3:15 p.m.

Collaborative Case Study: Responding to an Activists’ Knock at the Door

Facilitators

  • Paul DeNicola, Partner, PwC’s Governance Insights Center
  • Thomas Ivey, Partner, Skadden, Arps

Highlights

  • 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?


3:15 - 3:25 p.m.

Networking Break


3:25 - 4:15 p.m.

Creating Value: Activists’ Role on the Board

Panelists

  • 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.

Highlights
  • Evaluate activists’ contributions to board discussions
  • Integrate activist-appointed directors into the board culture


4:15 – 5:00 p.m.

A Good Offense is Your Best Defense: Developing a Strong Shareholder Engagement Plan

Panelists

  • 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

Highlights
  • 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


5:00 - 6:00 p.m.

Cocktail Networking Reception


2017 Shareholder Activism Workshop


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