Callouts & quotes from 281+ activist slides

"Reviews spanning a five-year period suggest that Fairmont Dubai failed to address reports of sex workers operating in one of its bars."

"The Board & Management’s myopic focus on EBITDA growth has failed: over the last 10 years, total shareholder return has increased <1%"

"We are here today because we believe Arconic’s management isn’t succeeding at any of these tasks and yet the Board has failed to act"

"We believe Lightspeed has always aspired to be the next Shopify, but the evidence suggests it has failed miserably in its ambitions."

"A Failed One-Trick Pony At 15X Sales, Reeking of Study Fraud, Kickbacks, And A Covered-Up Explants Crisis That Merits An FDA Recall"

"At Phillips 66, the Board has consistently awarded above-target bonuses even when management failed their cost-control objectives."

"Incumbent Board also failed to plan for succession, leaving Campbell without a permanent CEO at a crucial juncture in its history"

"Four of Huntsman’s five reporting segments failed to achieve the Company’s Adjusted EBITDA targets set at its 2014 Investor Day"

"Using this data, we estimate that in the 2006-2012 period ~1.1mm Sale Leaders failed and left the business, a ~90% failure rate"

"Analysts are holding out aspirational upside price targets, that have failed to be met, and still have not reset expectations."

"AAP has failed to capitalize on these tailwinds to generate the outperformance of its closest peers, O'Reilly and AutoZone."

"Historical performance suggests current leadership has failed to create enduring value for shareholders over the long-term"

"Over the past four years OUTR has spent $663 million on failed growth ventures...over 130% of OUTR’s current market value!"

"Samsung Electronics is a leading global technology company which has failed for years to deliver proper shareholder value"

"The Park began in 2011 with RMB 6 billion in investment and closed in 2014 having failed abysmally to attract visitors."

"We estimate that the average failed Sales Leader has $2,000 of expenses, net of minimal retail and/or recruiting profit"

"It appears that Stryker failed to restate the segment D&A when it made the restatement through the cash flow statement."

"Generac's acquisition of Enbala Power Networks in Oct 2020 has the flavor of a failed, but highly promoted investment."

"Lightning is a failed product at every level; BLI got the features, applications, target market, and pricing all wrong"

"Management has squandered billions of dollars of shareholder value on failed exploration adventures around the globe"

"For eight years, current leadership has consistently failed to grow volumes and reach its OR profitability targets"

"Why hasn't CHD also impaired or written-down the $61m of goodwill and intangibles associated with the failed deal?"

"In the past 5 yrs, management has destroyed 20+% of its market capitalization through failed exploration ventures"

"The results speak for themselves: Mr. Burritt and the senior leadership team have failed at running the business."

"Under Lance Fritz's eight-year tenure as CEO, UNP has repeatedly and significantly failed to reach its potential"

"The Board has failed to respond to shareholders’ repeated requests for significant environmental risk oversight."

"The Board has failed to respond to shareholders’ repeated requests for significant environmental risk oversight."

"We believe investors have failed to scrutinize the new business generation implications of this strategy change."

"Amcor bulls see 19%, but most have failed to conduct a forensic analysis of management’s statements vs. reality."

"The Company failed to achieve the financial targets it had presented to shareholders regarding the acquisition."

"Despite increasing investments in Sales and Marketing, BMC has failed to generate meaningful ESM revenue growth"

"Elliott Put Forward a Proposal in January: Hess Reacted Defensively and Has Failed to Address Its Problems"

"The Company's Adjusted EBITDA not only failed to improve, but had deteriorated after the 2014 Investor Day"

"This election contest is the result of numerous failed efforts to constructively engage with the Company."

"GCP’s current Board has failed across the spectrum – operations, governance, compensation, and strategy."

"Disney’s Board Has Failed in its Core Responsibilities and Has Not Been Held Accountable to Shareholders"

"Tessera has failed to achieve every commitment it has made in its DOC business over the past few years."

"Box has failed to accelerate growth, and its growth rate ranks near the bottom third of its Peer Group"

"Not only has Goodyear failed to close the margin gap vs. peers, the margin gap has continued to widen"

"The McDonald's Board has failed to prioritize ESG and ensure the Company meets its stated commitments"

"The McDonald's Board has failed to prioritize ESG and ensure the Company meets its stated commitments"

"Despite all its hyperbole, Pure has thus far failed to get a toehold selling AFAs into hyperscalers."

"If this is a failed mining venture involving CFO Man, then we believe UEC investors deserve to know."

"We are skeptical of CTC's broad cost savings plan as management failed to articulate many specifics"

"We believe the Board has failed to address two of the most troubling legacy directors on the Board."

"THE COMPANY HAS FAILED TO DELIVER ON ITS FINANCIAL COMMITMENTS OVER THREE CONSECUTIVE INVESTOR DAYS"

"The Company failed to deliver on Adjusted EBITDA commitments from three consecutive investor days."

"A Board riddled with conflicts failed to hold management accountable for years of missed promises."

"The Company failed to deliver on Adjusted EBITDA commitments from three consecutive investor days."

"Huntsman made new promises at three consecutive investor days, and each time, failed to deliver."

"Huntsman made new promises at three consecutive investor days, and each time, failed to deliver."

">How did a random French lab’s molecule “work” where over a dozen major pharma companies failed?"

"The Board has failed to install executive compensation practices that properly align incentives"

"TMC failed to disclose to investors its pre-existing relationship with TOML dated back to 2013."

"The Board has failed to hold management accountable for the Company's promises to shareholders."

"The Board has failed to install executive compensation practices that properly align incentives"

"This gamble resulted in COMPLETE FAILURE, and CHECKMATE-026 failed its first-line NSCLC study."

"Prior to our involvement, Box consistently disappointed investors and failed to create value"

"The Company failed to deliver on financial commitments from three consecutive investor days."

"Every reporting segment has FAILED to grow volume in-line with the Company's expectations"