274 documents showing 61–120
Kao Corporation 4452
Kao is a sleeping FMCG giant whose under-ambition, inefficiency, and lack of focus have destroyed EVA; adding five independent directors with FMCG operating experience can unlock peer-level returns.
Dye & Durham Limited DND
Dye & Durham's Board and CEO Matt Proud destroyed value chasing a $1bn EBITDA target through reckless M&A; Engine's six-director slate and new CEO can triple the share price to $46 in three years.
Dye & Durham Limited DND
Engine, a 7.1% holder, nominates six directors to overhaul Dye & Durham's board, replace management, cut leverage to 3x, and close the valuation gap to ~20x EBITDA peers.
Peloton Interactive PTON
Peloton's overlooked subscription business — 68% gross margins, 1.5% churn — can deliver $400-500M EBITDA once costs are right-sized, implying a $7.50-$31.50 share price versus $5.48 today.
Southwest Airlines LUV
Southwest's board lacks the airline-operator experience needed to lead a turnaround
Dye & Durham Limited DND
Engine, owning 7.1% of Dye & Durham, will run a board slate at the 2024 AGM, arguing a refreshed board can close the 8x-vs-18x EBITDA peer gap.
Southwest Airlines Co. LUV
Southwest is the most compelling airline turnaround opportunity in two decades
Pfizer Inc. PFE
Pfizer destroyed $20-60bn of value since 2019 despite a $40bn COVID windfall; Starboard wants the board to hold Bourla accountable for peer-median R&D/M&A returns.
Salesforce, Inc. CRM
Salesforce has executed Starboard's 2022 thesis — margins up 1,000bps, stock +99% — but committing to Rule of 50 by FY2028 still unlocks $20+ FCF/share at ~14x.
Pfizer Inc. PFE
Pfizer squandered its $40bn COVID windfall on overpriced M&A while delivering almost none of the 15 promised blockbusters; the Board must hold management accountable.
Salesforce, Inc. CRM
Salesforce's 2022 turnaround delivered +1,000bps margins and +99% stock; Starboard argues further cost discipline plus Agentforce growth can hit the Rule of 50 by FY2028 and $20+ FCF/share.
Southwest Airlines LUV
Southwest management has destroyed more value through inaction than anyone in the industry
BP Plc BP
Renewables strategy is a series of U-turns with no consistency
Southwest Airlines LUV
Worst-performing management team in airlines has destroyed more value than any peer
Southwest Airlines Co. LUV
Management and Board are entrenching via poison pill and defensive maneuvers instead of accepting accountability
Upwork Inc. UPWK
Engine argues Upwork is undervalued at ~6.5x EBITDA and that a refreshed board plus fixing the marketplace, focusing Enterprise, cutting bloat and aggressive buybacks unlocks substantial upside.
Southwest Airlines LUV
Southwest is the most compelling airline turnaround opportunity in two decades
Southwest Airlines Co. LUV
Shareholders lost more than 50% over three years under Kelly and Jordan
Autodesk, Inc. ADSK
Autodesk's premier 93%-gross-margin software franchise is squandered under CEO Anagnost; Starboard demands cost cuts, compensation overhaul, buybacks and CEO re-evaluation to reach 45%+ margins and ~$15.50 FCF/share by FY2027.
Autodesk, Inc. ADSK
Autodesk's premier software franchise is squandered under CEO Anagnost — peer-lagging margins, missed Investor Day targets and manipulated billings demand a Board-led overhaul to unlock 45% operating margins.
C&C Group plc CCR
C&C has lagged peers by 81% since its 2019 LSE listing under four CEOs and a board owning 0.05%; electing Engine's two nominees brings M&A and capital-allocation expertise.
BP Plc BP
BP's Board greenlit an unlawful solar-planning strategy and a value-destroying green pivot; replace the Chair, Senior Independent Director and CEO, or halt the renewables burn.
Match Group, Inc. MTCH
Match owns Tinder and Hinge but trades at 8.5x FCF; fixing Tinder, lifting margins above 40%, and aggressive buybacks — or going private — closes a ~45% peer discount.
Match Group, Inc. MTCH
Match owns Tinder and Hinge yet trades at <8.5x FCF; fixing Tinder, lifting margins above 40%, and aggressive buybacks — or a sale — can unlock substantial upside.
Southwest Airlines LUV
Eighth guidance cut in 18 months proves leadership cannot deliver
Autodesk, Inc. ADSK
Autodesk's Board tolerated years of underperformance and misleading billings disclosures; accountability, transparency, and a 1,000+ bps margin improvement can restore a best-in-class software franchise.
Autodesk, Inc. ADSK
Autodesk is a high-quality monopoly hobbled by board complacency and misleading billings disclosures; transparency, accountability, and a 1,000 bps margin fix unlock material upside.
Autodesk, Inc. ADSK
Autodesk's Board misled shareholders on free cash flow and ran out the nomination clock; reopen the vote, refresh directors, and fix margins to close the peer gap.
Southwest Airlines LUV
Southwest has the worst margins of any major U.S. airline under a 74-year legacy leadership team; a new outside CEO, refreshed board and modernized commercial strategy can deliver a $49 share price, 77% upside.
Southwest Airlines LUV
Southwest lost 50%+ of market value in 3 years while peers thrived
Southwest Airlines LUV
Southwest lost 50%+ of market value and EV is below the value of its aircraft alone
Southwest Airlines LUV
Southwest's outdated strategy collapsed margins from best-in-class 21% to worst-in-class 8%
Southwest Airlines LUV
Share price down >50% over 3 years; 2024 EBITDAR tracking ~50% below 2018 despite record industry revenues
Texas Instruments TXN
TI's rigid $5bn/year capex ramp is building ~50% excess capacity and has collapsed FCF per share 75%; flex capex to demand and commit to $9.00+ per share by 2026.
BP plc BP
BP under Lund and Looney's failed energy-transition strategy has produced sector-worst TSR, a record valuation discount, and governance failures — the board must engage with dissenting shareholders.
Dye & Durham Limited DND
Engine wants Dye & Durham's board to abandon its arbitrary C$1bn EBITDA target, stop overpaying for acquisitions, and refocus on ROIC after 62% three-year shareholder losses.
Kao Corporation 4452.JP
Kao has top-decile brands (Curel, Biore, Molton Brown) but bottom-decile management with a 'growth allergy' — fixing it Beiersdorf-style unlocks 76-97% upside.
Norfolk Southern NSC
Norfolk Southern is the only Class I rail without PSR; electing Ancora's seven nominees replaces Alan Shaw with Barber and Boychuk to redesign the network and reach $420/share.
National Health Investors, Inc. NHI
NHI is an undervalued senior-housing REIT whose conflicted, interlocked board threatens to give away the upcoming NHC lease renewal — vote AGAINST Webb and Swafford to force change.
Parkland Corporation PKI
Parkland has failed on operations, capital allocation and governance; a strategic sale at 8-9x EBITDA would deliver ~$64/share, a 56% premium superior to the risky standalone plan.
Norfolk Southern Corporation NSC
Norfolk Southern is the worst-performing Class I railroad under Alan Shaw; replacing the Board and installing UPS/CSX operators to run PSR closes the 780bps OR gap and unlocks $420 per share.
TIM S.p.A. (Telecom Italia) TIT
Vote Bluebell's slate to replace TIM's worst-in-class CEO Labriola with Google Cloud exec Laurence Lafont, halt strategic chaos, and unlock ~100% upside versus European telco peers.
Norfolk Southern NSC
Norfolk Southern is the worst-performing Class I railroad under CEO Alan Shaw's failed 'resilience railroading'; elect Ancora's slate to install Jim Barber as CEO, adopt true PSR, and unlock ~60% upside.
The Walt Disney Company DIS
Disney should lean into its 21%-ROIC Parks business and escape the streaming wars via bigger bundles and cross-studio collaboration — applying the Microsoft, NYT, and Spotify playbook ValueAct knows.
The Walt Disney Company DIS
Disney's decade of underperformance stems from a board lacking focus and accountability; electing Peltz and Rasulo brings ownership mentality to fix succession, streaming economics and capital allocation.
The Walt Disney Company DIS
Disney lost its way under a distracted, unaccountable board; replacing two directors with Peltz and Rasulo restores focus on DTC margins, CEO succession, and capital discipline.
The Walt Disney Company DIS
Disney's decade of underperformance stems from a passive Board; Trian's nominees Peltz and Rasulo will fix CEO succession, right-size legacy media, and drive DTC to Netflix-like 15-20% margins by 2027.
Kenvue Inc. KVUE
Kenvue is an iconic consumer-health portfolio underperforming its potential — fixing margins and Skin Health & Beauty execution can close a wide valuation gap to Haleon and staples peers.
Norfolk Southern Corporation NSC
Norfolk Southern's safety and operating failures — epitomized by the preventable East Palestine derailment — require replacing CEO Alan Shaw and reconstituting the Board with independent nominees.
Elanco Animal Health ELAN
Elanco has destroyed billions under CEO Simmons and an insular classified board; replacing four directors at the 2024 AGM installs accountability and unlocks the animal-health turnaround.
The Walt Disney Company DIS
Disney squandered a winning hand through a weak, unfocused Board; electing Peltz and Rasulo brings the shareholder mindset needed to reverse years of TSR underperformance.
GoDaddy Inc. GDDY
GoDaddy is a high-quality infrastructure business trading at a wide FCF-multiple discount; committing to 40% growth-plus-profitability and buying back stock unlocks $170-$200+ per share.
The Walt Disney Company DIS
Disney's board has failed shareholders — TSR lags peers by 401% over ten years — so Trian is nominating Peltz and former CFO Rasulo to restore governance, accountability, and 'the magic.'
Phillips 66 PSX
Phillips 66 has lost investor trust by taking its eye off refining; adding two refining-experienced directors — and Marathon's 2019 playbook if targets slip — unlocks ~75% upside to $205+.
GoDaddy Inc. GDDY
GoDaddy is a scale-leading infrastructure business trading at 11x FCF; replaying Starboard's Splunk/Wix/Salesforce margin-expansion playbook can close a 37% peer gap and re-rate the stock.
GoDaddy GDDY
GoDaddy missed its 2022 Investor Day commitments as Tech & Development costs ballooned; cutting costs to hit 33%+ EBITDA margins re-rates FCF/share to $10+ and closes the peer-multiple gap.
GoDaddy, News Corp, Fortrea
Starboard pitches three ideas: News Corp should separate Digital Real Estate to unlock ~50% upside, GoDaddy should expand margins to 33%+, and Fortrea can hit 18% peer margins under Tom Pike.
Multiple (GoDaddy, News Corp, Fortrea) GDDY, NWSA, FTRE
Starboard pitches three activist ideas at the 2023 13D Monitor Summit — GoDaddy margin expansion, News Corp digital-real-estate separation, and Fortrea CRO profitability fix — each with 50%+ upside.
Bloomin' Brands BLMN
Bloomin' Brands trades at 5.0x EBITDA vs Darden's 9.5x because of operational execution failures at Outback; Starboard's Darden playbook can narrow the gap and unlock shareholder value.
Fortrea Holdings Inc. FTRE
Fortrea, LabCorp's spun-out CRO, earns 9% EBITDA margins versus 18% peers; CEO Tom Pike's IQVIA playbook implies $47-$72 per share, 60-144% upside at normalized margins.