Board Legend Marty Lipton: ‘Shareholder Primacy Is Just Dead Wrong’
Known as a defender of choice for companies under attack, Martin Lipton has also been arguing against short-termism for more than three decades.
Known as a defender of choice for companies under attack, Martin Lipton has also been arguing against short-termism for more than three decades.
Boards should anticipate that shareholders are going to be more willing to use an activist approach to push companies to respond to ESG concerns next year.
A survey of 170 board directors around the world reveals perspectives on company purpose, shareholder primacy, ESG and human capital governance.
The 2018 battle between the Campbell Soup and Third Point Capital showed that even public companies with substantial family ownership are not immune to the most bruising, distracting and costly of the activist shareholder weapons: the proxy fight.
When done well, these reviews help optimize how a company functions at its highest level and build trust with shareholders and other important stakeholders.
Most of us know instinctively that using plain language is a good idea. “Please give me the most convoluted proxy statement possible,” said no investor, ever. But if you need some confirming data, read on.