Un activisme pas si mal vu
C’est en tous les cas ce qu’il faut retenir de cet article Paula Loop « Shareholder Activism: A Glass Half Full or Half Empty? Maybe Both » (Corporate Compliance Insights, 8 novembre 2016). Celle-ci relaie une étude menée par Annual Corporate Directors Survey dans laquelle les dirigeants et les administrateurs reconnaissent les effets positifs de l’activisme… même quand il est le fruit des hedge funds !
Shareholder activists are certainly making their mark on the boardroom. As of early September, there were 263 activist campaigns in the U.S. And 224 U.S. public companies were targets of activism. While many companies and their boards still fear being in an activist’s crosshairs, it turns out that many directors say activism can actually be a good thing — for them and their companies.
Findings from our recently released Annual Corporate Directors Survey highlight how activism is changing what’s going on in the boardroom. We heard from nearly 900 directors in our survey, and a whopping 80 percent of them told us that hedge fund activists compel companies to more effectively evaluate their strategy, execution and capital allocation. Taking that one step further, nearly 80 percent say that activism has resulted in companies improving their operations and capital allocation.
For some, this might not be terribly surprising. Over the past several years, we’ve seen activists intervene at some iconic U.S. companies, resulting in changes at the CEO and board level. However, hearing the directors who play such a critical oversight role acknowledge these benefits of activism is a significant point indeed.
À la prochaine…
Ivan Tchotourian
