Business

Nelson Peltz @The Deal’s annual corporate governance conference conference Mulls GE Breakup

Notes from the The Deal’s annual corporate governance conference which took place on June 7th 2018. Full notes here.

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Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

 

nelson peltz

Nelson Peltz

  • White paper and Proctor
  • Proxy fight is what nobody wants
  • When you come in with proxy fight with board, you come in that shareholders want you there
  • Call for direct accountability
  • Matrix organization the death of companies
  • You got to check every box, if it does get check, it doesn’t get done
  • Can’t call for a person who is in charge and hold them accountable
  • Everyone has input and no one is responsible for what is going on
  • P&G has 10k people in corporate
  • Goal is to have 1k people in corporate
  • 3 global business units who are accountable
  • 20 bill businesses
  • We don’t want 10k people to clog up
  • Goal is to create ownership mentality in the board
  • Have board think entire net worth tide in that company
  • Not honoree, should be responsibility
  • Use to be B2B, not paradigm B2C, more than just business, go directly to consumers
  • Small companies can now attack
  • Big companies want to fight disruption, knee jerk reaction
  • Should embrace it
  • Should disrupt themselves
  • They to can have digital brands, can speak directly to consumers
  • If they do that, huge balance sheet, all the other advantages once they change
  • Must be able to deal with consumer differently
  • Hard to deal with undisclosed liability
  • Long term care
  • 18 board, down to 12, 11 step when nelson stepped on
  • Had undisclosed liability
  • Got to ask questions when your on the board?
  • Management has monopoly of information
  • Beware of show and tell in board
  • Must ask questions when on board
  • Consumer products down
  • Increase in labor
  • Smaller people can’t compete
  • Big guys in restaurant can withstand it
  • Growing all tomatoes indoor, hydroponically grown in US and Canada in 12 locations

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