Huntsman Corporation HUN
The three reasons
- 1
Huntsman has broken every major Investor Day commitment since 2014 — fooled shareholders three times
- 2
EBITDA margins trail peers by 400-900bps and the gap has widened since IPO
- 3
Board waived its own mandatory retirement policy three years running to entrench legacy directors
Primary demands
- Elect Starboard's slate of three independent directors (Sandra Beach Lin, Susan C. Schnabel, Jeffrey C. Smith) at the 2022 Annual Meeting
- Refresh the board by removing long-tenured, interconnected legacy directors (Archibald, Burns)
- Install directors who will hold management accountable for operational execution and capital allocation
- Stop cherry-picking peer sets and arbitrary time periods to obscure underperformance
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (9)
Notes
Supplemental rebuttal deck filed in March 2022 as companion to Starboard's February 28, 2022 investor presentation, during the Huntsman proxy fight. Highly repetitive 'Truth vs. Huntsman's Misleading Tactics' template recurs after each section — deliberate drumbeat to frame management as dishonest. Extremely heavy reliance on CEO quote contradictions (Peter Huntsman and former CFO Kimo Esplin quotes used to expose broken promises on Venator, Textile Effects, EBITDA targets, peer comparability). Core rhetorical move is forensic peer-set analysis showing Huntsman uses different peers in every document. Section 6 ('Starboard's Past Investments') is a self-defense subsection responding to Huntsman's attacks on Starboard's GCP Applied Technologies track record — rare for an activist deck to devote this much space to defending its own record. Director nominees: Sandra Beach Lin, Susan C. Schnabel, Jeffrey C. Smith. Presentation date inferred from filing reference 'March 2, 2022' on slide 51.