How the Crisis Changed Activist Funds
In light of Covid-19, Activists Are No Longer Demanding Dividends or Buybacks 10 June 2020
Laurence Boisseau of Les Echos uncovers how activists tailored their approach in light of Covid-19. In the latest article, Laurence Boisseau highlights that in March 2020, activists were blindsided by Covid-19. In France, apart from Amber Capital, which attempted an unsuccessful board overhaul at Lagardère, or Swiss activist Teleios, which urged Maisons du Monde, to appoint new directors, no major campaigns have emerged in France.
Applying a different tactic, CIAM is putting pressure on SCOR through written questions at their upcoming annual general meeting where they seek to separate the roles chairman and chief executive. “The activists’ demands will focus on senior management and board members who have not been judged up to par and hold them accountable for the mismanagement of the crisis,” explains Louis Barbier, a Partner at SquareWell.
You can access the article here (in French, subscription required).
