John Flannery Booted From General Electric’s Board

0
John Flannery Booted From General Electric’s Board
By General Electric Company (w:File:General_Electric_logo.svg) [Public domain], via Wikimedia Commons

What the activism world is talking about

John Flannery is out as CEO of General Electric after little over a year in charge. A unanimous board decision to give his job to an outsider, former Danaher CEO Larry Culp, came at the same time as the company announced a $23 billion impairment in its power division.

John Flannery , who was previously the boss of GE Healthcare, was a replacement for Jeff Immelt, whose exit was precipitated by an intervention from Trian Partners – the activist he initially encouraged to invest in the stock to champion his turnaround project. Trian, whose chief investment officer Ed Garden joined the board in October last year, hasn’t said anything about the stock recently. As it gears up for a new campaign, the performance of its investment in GE will surely hurt – the stock is down 56% nearly since it disclosed its position in October 2015.

Qualivian Investment Partners July 2022 Performance Update

stocks performance 1651757664Qualivian Investment Partners performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more Dear Friends of the Fund, Please find our July 2022 performance report below for your review. Qualivian reached its four year track record in December 2021.  We are actively weighing investment proposals. Starting in November Read More

Get Our Activist Investing Case Study!

Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!

Q2 hedge fund letters, conference, scoops etc

What we'll be watching for this week

  • Will shareholders vote to replace Wheeler REIT’s board with Stilwell’s nominees on Wednesday?
  • Will Brookdale propose further changes, as suggested by Land and Buildings, before its shareholder meeting on Thursday?
  • Will shareholders of Essendant tender their shares to Staples or keep hopes of a merger with Genuine Parts alive.

Activist shorts update

Folli Follie announced that an investigator found large discrepancies in the company’s financials following a three-month probe. The jewelry company’s founders Dimitris and Ekaterini Koutsolioutsos resigned at the meeting but CEO Dimitris went on to contact potential investors to garner support for its restructuring plans, saying he believes he is part of the solution for the company’s turnaround and would feel like a coward to leave it now.

Investigators revealed that the reported revenue for Folli Follie’s Asian business was overstated by nearly 90%. Short seller Quintessential Capital Management accused the company of fabricating the business in May.

To arrange an online demonstration of Activist Insight Shorts, email us or view our product brochure to find out more.

Chart of the week

The number of services companies (globally) publicly subjected to activist demands (between January 1 and September 28 of each year).

Chart of the week 3

If you require statistics on shareholder activism, contact our team at support@activistinsight.com or subscribers of Activist Insight Online can visit our interactive statistics page.

Updated on

Financial news and data providers Activist Insight and Proxy Insight announced in October 2020 that they had merged to form Insightia, a leader in the field of public company information. Activist Insight was formed in 2012 and offers an extensive range of products including Activist Insight Online, Activist Insight Governance, Activist Insight Vulnerability, Activist Insight Shorts, Activist Insight Monthly magazine, and The Activist Insight Podcast. Proxy Insight has quickly become the world’s leading source of information on global shareholder voting, covering such hot topics as director and auditor elections, “say on pay” resolutions and environmental, social, and governance (ESG) proposals.
Previous article Black Holes Don’t Make Up Enough Of The Universe’s Dark Matter
Next article This Licensing Deal Could Be Secretly Fueling Apple’s Services Revenue Growth

No posts to display