Callouts & quotes from 220+ activist slides

"Allowing Mr. Lashier to consolidate control over the Company's governance has hindered our ability to work constructively with Phillips 66 to improve the Company's performance."

"Leading proxy governance firms have also raised serious concern about compensation practices at Motorola, during Mr. Stengel’s tenure as a member of its compensation committee."

"A review of Bolloré's corporate governance practices demonstrates that unaffiliated shareholders must not support any slate put forward by Bolloré and his related companies"

"As such, absent further value- and governance-enhancing measures from Sumitomo Realty, Elliott plans to vote against the reappointment of senior management at the 2025 AGM."

"Given TFS is unlikely to be able to obtain finance due to its poor corporate governance, we believe it will not have sufficient capital to maintain plantations to maturity."

"Yahoo's potential has been diminished by failed management and governance at the highest levels (i.e., CEO and Chairman positions), but new opportunities await new leaders"

"Shareholders should not trust the management team or a Board that has overseen financial underperformance, poor capital allocation and unacceptable corporate governance."

"Weis is currently the highest valued regional supermarket on P/E and EBITDA despite negative organic growth, aggressive accounting and poor governance and disclosures"

"It is Time for the Current Board to be Held Accountable for Years of Poor Performance, Egregious Corporate Governance, and Substantial Shareholder Value Destruction"

"With 24 years of tenure, Mr. Gerber cannot possibly be considered “independent” beyond any doubt. BlackRock’s standard of governance has been damaged by this choice"

"Elliott plans to vote against members of Sumitomo Realty’s senior management at the 2025 AGM absent further corporate-governance and value-enhancement initiatives"

"We believe BKD's corporate governance structure falls short of industry 'best-practices', limiting the rights of the true owners of the Company, the shareholders"

"We believe the Board must take immediate action to improve margins, optimize capital allocation, and enhance governance to unlock significant shareholder value."

"Nelson Peltz, the Trian team and Allegion believe that good corporate governance and good operational results go hand in hand. The results speak for themselves."

"There is no reason to “get cute” with Arconic’s governance improvements. A culture that welcomes accountability will welcome best practice corporate governance"

"HMG needs to achieve a group-wide improvement in corporate governance standards that should reflect its status as a multinational and leading automotive group"

"Based on my own informal survey, many fund managers have no idea of the breadth of tools available to them to improve corporate governance at their companies"

"We strongly encourage you to vote on the Gold Card for Elliott's outstanding slate of director nominees and for the governance enhancements we have proposed."

"We believe dual-class share structures are NOT in the best interests of shareholders and are NOT reflective of best-in-class corporate governance practices."

"We believe Sotheby's weak performance can be tied back to poor corporate governance, irresponsible cost expenditures, and missed opportunities for growth"

"TIM governance has improved since independent directors replaced the Vivendi-controlled Board; meanwhile Vivendi’s own shareholder rights have collapsed"

"Subsequent to Bartz's dismissal, Yahoo's shares have traded up 10%, responding to the prospect of new governance focused on maximizing shareholder value"

"We strongly urge you to vote the GOLD card FOR Elliott's outstanding slate of director nominees, and FOR our proposed corporate governance enhancements."

"While a dual share class structure benefits the controlling family, it is not in the best interest of all shareholders and overall corporate governance"

"Furthermore, consistent with our view of weakening governance measures, we find that Director ownership has noticeably declined in the past few years."

"Phillips 66 has been a perennial underperformer – weighed down by operational missteps, a flawed conglomerate structure and poor corporate governance."

"The disconnect between executive compensation and shareholder returns at Phillips 66 represents a profound governance failure that must be addressed."

"The disconnect between executive compensation and shareholder returns at Phillips 66 represents a profound governance failure that must be addressed."

"HHH will implement best-in-class governance provisions to ensure that it represents a compelling investment opportunity for public float shareholders"

"This was the proposal that initiated Alcoa's apparent cat and mouse game of what we believe was a disingenuous effort to improve corporate governance"

"Elliott believes a board composed of truly independent directors is the most efficient and effective way to improve governance and performance at TIM"

"The disconnect between executive compensation and shareholder returns at Phillips 66 represents a profound governance failure that must be addressed."

"Contends the Dual-Class Structure and Croatti Family's Control over UniFirst is a Textbook Example of How Poor Governance Destroys Shareholder Value"

"As previously mentioned, BlackRock has a weak governance framework which is evidenced by a clear lack of independent oversight over management"

"As previously mentioned, BlackRock has a weak governance framework which is evidenced by a clear lack of independent oversight over management"

"The fact that P&G chose to engage in a proxy contest with Trian, rather than settle, speaks to the state of P&G’s corporate governance given:"

"We believe the Nominating and Corporate Governance Committee has proved unwilling or incapable of addressing seemingly obvious interconnects."

"Governance risks faced by minority investors at each of these companies will be centered on the alignment of interests with Vincent Bollore."

"Unparalleled expertise in i) management, both enterprise and consumer, ii) M&A/capital markets/restructuring; iii) governance/gender balance"

"We believe that Kao is either misleading shareholders today, or it misled Oasis in November. Either way, this is clearly poor governance."

"Troubling Governance Concerns That Could Enable Financial Impropriety And Skimming of Cash To Management Through Opaque Option Grants"

"To rebuild confidence and ensure effective leadership, Kao must take decisive steps to strengthen its Board and governance practices."

"Given suboptimal financial performance, poor disclosures and governance, Weis should trade at a discount to M&A valuation benchmarks."

"Bolloré’s newfound concerns for good governance are in direct contrast with the abysmal track record across his corporate holdings"

"Time is running out: vote the GOLD card FOR Elliott's four highly qualified board nominees and corporate governance enhancements."

"Governance Concerns Include Closeness of Management With The Auditor. Current Audit Partner Linked To Papa John Accounting Fiasco"

"Nelson Peltz, the Trian team and Allegion believe that good corporate governance and good operational results go hand in hand."

"We believe there are several corporate Governance red flags with Danimer’s management team that should worry ESG investors"

"BlackRock has a weak governance framework which is evidenced by a clear lack of independent oversight over management."

"Bolloré's contempt for good governance makes any slate put forward by him, or his controlled companies, unsupportable"

"Companies following best corporate governance practices adopt policies that prohibit executives from pledging stock."

"REVITALIZING PHILLIPS 66'S GOVERNANCE WILL REQUIRE CREDIBLE, EXPERIENCED DIRECTORS WHO WILL PUT YOUR RETURNS FIRST."

"REVITALIZING PHILLIPS 66'S GOVERNANCE WILL REQUIRE CREDIBLE, EXPERIENCED DIRECTORS WHO WILL PUT YOUR RETURNS FIRST."

"Elliott wants to augment TIM's Business Plan by aligning TIM with international corporate governance best practices"

"REVITALIZING PHILLIPS 66'S GOVERNANCE WILL REQUIRE CREDIBLE, EXPERIENCED DIRECTORS WHO WILL PUT YOUR RETURNS FIRST."

"Kao's rushed announcement and lack of transparency about the nomination process raise serious governance concerns."

"Each business can reset its relationship with shareholders and embrace modern corporate governance best practices"

"Would a Board truly interested in good governance be so concerned about an advisory vote on a non-binding policy?"

"Rounding out Eurofins’ governance shortcomings, its Board of Directors includes Dr. Martin’s brother and ex-wife."

"In Our View, Best Corporate Governance Practices Don't Involve Appointing Your “Pal” or “Friend” To Your Board"