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Campaigns / Bluebell Capital → BlackRock, Inc.
Bluebell Capital vs. BlackRock, Inc.

BlackRock, Inc. · BLK

5 decks published between 2024-04-05 and 2024-04-30 — 186 pages, 186 analysed slides total.

initial thesis proxy fight

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2024-04-05 proxy fight

    553283_ccee5dd3dd1041f5ae96b66c4abdf691

    2pp · letter

    Bluebell demands BlackRock separate the combined Chair/CEO role via a binding bylaw amendment at the 2024 AGM, offering to withdraw only if the Board irrevocably commits to an independent Chair from 2025.

    N 2 V 2 C 1
  2. 2024-04-09 proxy fight

    553283_f47fdb40ab144e46bc667c9676ab7175

    5pp · letter

    BlackRock's combined CEO/Chair role and entrenched Lead Independent Director leave the board without true oversight; bylaws should mandate an Independent Chair from AGM 2025.

    N 4 V 2 C 3
    ⌂ ” ⚑
  3. 2024-04-09 proxy fight

    553283_d8d6c63ce8e04077a845d3faa26ddd3f

    86pp · full_deck

    BlackRock's combined Chair/CEO and below-peer governance have delivered only market-matching TSR since 2009 and fuel greenwashing risk; shareholders should vote FOR an Independent Chair at the 2024 AGM.

    N 4 V 3 C 3
    ⌂ ” ⇌ ⚑
  4. 2024-04-09 initial thesis

    bluebellpresentation

    86pp · full_deck

    BlackRock's governance trails the S&P 500 on every metric, its stewardship team is overwhelmed, and TSR has merely tracked the market since 2009 — separate Chair and CEO to restore independent oversight.

    N 4 V 3 C 3
    ⌂ ” ⇌ ⚑
  5. 2024-04-30 proxy fight

    553283_b02b1e30bc5e47d097c03b3ce282662e

    7pp · letter

    BlackRock preaches stewardship to others while combining Chair and CEO under Larry Fink; shareholders should vote FOR Bluebell's Item 6 to require an independent Chair from 2025.