As reported here yesterday, the investors who launched the proxy fight against management in H.J. Heinz Co. claim to have won several seats on the Board. Today, Fortune magazine has an interesting article about these alleged "shareholder activists" and, in particular, the leader of this group, billionaire Nelson Peltz.
While we don't have any particular opinion about Mr. Peltz, we strongly encourage our pension fund friends to follow his lead with respect to corporate governance issues. No one is going to ensure that corporate boards act responsibility unless the largest shareholders flex their muscle every now and again.
Click here for the Fortune article.
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