Skip to main content

Major shareholder’s Rolls-Royce grumble could rumble on

Vague demand for board refresh from Causeway likely a hangover from £2bn rights issue

The last time Rolls-Royce had an US activist fund on its tail, the aero-engine manufacturer took the unusual step of inviting one of its representatives onto the board. ValueAct Capital was judged to have constructive ideas and useful industry expertise. The four-year relationship, which ran until 2019, turned out harmoniously.

Causeway Capital Management, the latest US fund with a 9% stake, looks a different beast, at least to judge by its comments to the FT at the weekend. The striking feature was the wooly nature of its main grumble: a demand for a board “refresh” in the interests of “fresh thinking”. What does that mean?

Continue reading...

from The Guardian https://ift.tt/38r20Lt
Labels:

Comments

Post a Comment

Popular posts from this blog

Despite Unleashing COVID-19, Expert Predicts China Could Emerge from Pandemic with Even Stronger Hold on Other Nations

Tensions between the US and China are growing, fueled by COVID-19 and accusations of dishonesty. One result is Americans are suing Beijing, seeking to hold it accountable for the worldwide pandemic. Those efforts could backfire, however, such that China not only evades consequences but potentially benefits from the pandemic. from CBNNews.com https://ift.tt/3aVp0Ba
Post a Comment
Read more