Callouts & quotes from 1,436+ activist slides

"Our core customers continues to come back to us and spend about $125 per shopping trip. They shop with us 2 or 3 times per year and come to Boot Barn because we are the authority for this lifestyle in the entire country. — CEO Fox, August 4, 2023"

"“Our fundamentals underpin what I continue to believe is an exceptionally rare opportunity in the public market: a beloved consumer brand that is built upon an enduring subscription membership business model.” — CEO Dudum on Q3 2021 Earnings Call"

""This deal represents a sound investment in both advanced technologies and new capabilities that build upon our decades of experience as the nation's leading propulsion provider." — Aerojet Rocketdyne Holdings, Inc. CEO and President Eileen Drake"

"「TSMCは今おレーザーテック製の装置を積極的に使っていますか。それとも、ダウンタイムが多すぎるために使用せず、遊ばせているのでしょうか」 「TSMCはレーザーテック製の装置をどれだけうまく生産の流れに導入できているかについてはよくわかりません。しかし、ホロンから聞いているかぎり、今のところはあまりうまくいっていないようです。そのためか、ホロン製の検査装置をかなりのペースで発注しづづけています」 — 半導体製造装置企業の上席幹部として長年の経験を持ち、レーザーテックのCEOに親しい人物"

""You can't judge us on a one-year basis. You have to do it over the long term." — John Hess, Chairman & CEO Hess, January 2010; "There is no hiding place for underperformance." — Rodney Chase, Shareholder Nominee, Former Deputy CEO BP, May 2005"

"Phillips 66’s (NYSE: PSX) CEOs reaped an eye-popping $140M from 2020-2024—despite ongoing stock and operating underperformance and missed cost targets. Why are shareholders footing the bill for big CEO paydays in the face of lackluster returns?"

"Anytime you can sell a volume of MDI on a rail car basis on a long-term fixed contract basis, that's going to be something we like. So not everything has to go through a system house... — Peter Huntsman, Chairman, President & CEO, December 2019"

"“Approximately, 94% of our GAAP revenue was recurring subscription revenue...Hims & Hers brings together the best of high-growth consumer Internet coupled with the fundamental economics of enterprise SaaS.” — CEO Dudum on Q3 2021 Earnings Call"

"I can tell you now that on every campaign we run in SORT, yes, alongside of the cookies, and we want to be in a point where we're reaching the number of 1,000 campaign by the end of the year of using SORT. — Perion Network CEO (April 28, 2022)"

"“And so they have great margins just in their contracting but then they add to that margin by capturing the value of aggregates and liquid asphalt by vertically integrating, which is our second margin lever.” — CEO Smith Deal Call Oct 21, 2024"

"“further increase production volume” — CEO; “we have not announced...how much production will expand.” — CEO; “will contribute to production...we are working to increase production capacity...expanding our production space and workforce” — CEO"

"I don't understand the story to be honest that you need to power internally. I mean, if I today am willing to sell the power to the same guys for lower prices than it costs them to build the assets, why building the assets? — RWE CEO Krebber"

"Based on the synergy plan, we are confident that the combined entity will generate about a 24% operating margin by the end of this decade versus the 18.5% P&G delivered in fiscal 2004-5. — A.G. Lafley, CEO, Gillette M&A Presentation 10/3/05"

"“Part of our business is entertainment. We entertain our distributors with opportunity, with dreams, stories, it's all a part of what this company is.” --CEO Michael O. Johnson, Goldman Sachs 14th Annual Global Retailing Conference 9/5/2007"

"At present, we believe [CEO Mark] Lashier and the rest of the management team deserve investor support so long as they demonstrate meaningful progress against [their financial] targets. — Elliott Investment Management (November 2023 letter)"

""To meet our clients' needs, we believe the companies we invest in should similarly be focused on achieving sustainable returns over the longer term. Good corporate governance is critical to that goal" — CEO Larry Fink, 2014 Letter to CEOs"

""If we look at the analysts' predictions for the size of the enterprise AI software market, this promises to be on the order of a $300 billion software market in, say, 2025." — CEO Siebel, Annual Virtual Wells Fargo TMT Summit, Dec 2, 2021"

""To meet our clients' needs, we believe the companies we invest in should similarly be focused on achieving sustainable returns over the longer term. Good corporate governance is critical to that goal" — CEO Larry Fink, 2014 Letter to CEOs"

"Those naively attempting to solve self-driving using a pure end-to-end system will find themselves bogged down in a game of whack-a-mole, much like the folks delivering large language models have. — Chris Urmson, Aurora co-founder and CEO"

"Of the 19 state customers that CCA does business with, we are currently estimating that those states will have an incremental growth that will be twice as much as their funded plan capacity by 2013. — Damon Hininger, CEO, Q1 Earnings Call"

"“China is 1.3 billion people, you can recruit for a long time there before we had what was called the classic 'pop-and-drop' in that marketplace.” — Michael O. Johnson, Herbalife Chairman and CEO, HLF Q2 2008 Earnings Call, Aug. 6, 2008."

"“We still believe we're going to get the benefit of integration. That's not lost because of the supply agreement that we have and the fact that we'll continue to be using our logistics assets.” — Mike Hennigan, CEO of Marathon Petroleum"

""the new management of that coal business may want to continue to expand and continue to produce coal long beyond the time frames and horizons that we put out in our commitments" — Glencore CEO Gary Nagle, Bloomberg, December 3rd, 2021"

"“SWIB will vote AGAINST this proposal, as the following concern(s) remain: CEO pay is 5.00 times greater than the next highest paid NEO.” — State of Wisconsin Investment Board – 2016 Proxy Voting Report (Alcoa 2016 Annual Meeting Vote)"

"Pai has been referred to as Enron's “invisible CEO” and one of the “brightest brains” at Enron who helped Jeffrey Skilling turn Enron into the fast-paced energy-trading firm it was before its collapse. — Spruce Point Capital Management"

"By October 2022, when Datasection's CEO Norihiko Ishihara was interviewed by the KEIO leadership center he described it as the American version of TikTok and was offering augmented reality and ecommerce as services. — Wolfpack Research"

"We still believe we're going to get the benefit of integration. That's not lost because of the supply agreement that we have and the fact that we'll continue to be using our logistics assets. — Mike Hennigan, CEO of Marathon Petroleum"

"We were shocked to discover that less than two months after VCM reneged on its financing commitment to ABML, Michael Vogel joined LiNiCo, a potential future competitor, as “CEO, President, and Founder” according to his LinkedIn bio."

"How at a meeting in the fall of 2013, CEO Indra Nooyi told Nelson that the acquisition of the bottlers was a "mistake," thereby conceding that $21bn ($17bn excluding the equity PepsiCo previously owned in the bottlers) was misspent."

""Well, the dating platform neu.de certainly makes for a great story. I think we made dating more socially acceptable through the enormous advertising prints in our out-of-home billboard campaign." — Dirk Stader, Media Ventures's CEO"

"In our goal of owning thirst, we are excited about our many exclusive product launches in the US, including Celsius Watermelon Ice during the quarter and our first GHOST brand exclusive this month. — CEO of Alimentation Couche-Tard"

"“If you look at how these bills are inflated, in many situations...the vendor fees can actually exceed the medical cost of care. One, it’s absurd, and two, it basically obviates the purpose of any type of plan like this.” — HST CEO"

"By the way, they are ahead of our plan. We had an internal plan that we put together for the combined business... And they had a quarter that exceeded our expectations and we expect that to continue. — Roger Krone, CEO, Aug 4, 2020"

"Glass Lewis believes that separating the roles of CEO (or, more rarely, another executive position) and Chair creates a better governance structure than a combined CEO/Chair position. — Glass Lewis 2024 Benchmark Policy Guidelines"

""The best measure to judge a company's performance over time is growth of free cash flow per share, and we believe that's what drives long-term value for our owners." — Rich Templeton, Chairman and former CEO of Texas Instruments."

"Glass Lewis believes that separating the roles of CEO (or, more rarely, another executive position) and Chair creates a better governance structure than a combined CEO/Chair position. — Glass Lewis 2024 Benchmark Policy Guidelines"

""Every portable generator in North America is imported with the exception of the ones that we make in Jefferson, Wisconsin. So nobody else makes portable generators in North America, we do." — Generac CEO, Q3 2018 Conference Call"

"We continue to execute our innovation strategy, including making acquisitions that expand our self-service portfolio, accelerate Verint's cloud and automation capabilities, and are accretive to earnings. — Dan Bodner, CEO, Verint"

"“The permits are in process, the state, the county, the federal government, the city, have been nothing but supportive of us, and it’s all going well, you’ll see more press, it’s on us and we’re at the end of it” — CEO Interview"

""The oxygen therapy market in the USA, it’s three to four million oxygen patients. The growth is rather robust at 7% to 10% net growth annually." — Scott Wilkinson, INGN CEO, at the Stifel Healthcare Conference in November 2018."

"“There has been no change in the scope of the audit.” — Mr. Walton, Allied’s CEO. “the accountant does not function as an appraiser and is not expected to substitute his judgment for that of the company's directors.” — ASR 118."

""what we have seen in the German an auction [sic] which is the equivalent of EUR 25 per megawatt hour for the full lifetime of the project being the lease payment alone, I think that is not sustainable" — RWE CEO Markus Krebber"

""Norfolk has long been an underperforming self-help story that simply can't figure out how to help themselves." — Stifel; "We see value in potential management change with Jim Barber as CEO and Jamie Boychuk as COO." — Barclays"

"It is unfortunate that a company as iconic as Disney and with so many challenges and opportunities has refused to seriously engage with us, its largest active shareowner, about board representation. — Nelson Peltz, Trian's CEO."

""After Russia's full-scale invasion of Ukraine, we decided that it was better for our company to leave the Russian market. I also renounced my Russian citizenship," said Timur Turlov, CEO of Freedom Holding Corp. — Timur Turlov"

"“The innovation is so deeply embedded in Apple's culture... It's deeply embedded in the values -- it's in the DNA of the company. And so I feel fantastic about it. There's no better place for innovation.” — Apple CEO, Tim Cook"

"“...This stretch of beach will be branded a national destination with the same kind of recognition as Nantucket, Hilton Head Island, or Napa.” — Peter Rummell, CEO Q1 2007 Earnings Call (referencing WindMark and Port St. Joe)"

"“As we’ve discussed [on] prior calls, enterprise customers have been interested in a move to the cloud and what we’ve seen lately is that they’ve accelerated the cloud adoption and cloud purchases.” — Dan Bodner – CEO, Verint"

""This is the result of the recognition of some low-profit ACTIS sales." — Lasertec CFO, Oct 31, 2023, earnings presentation; "I cannot give you any information on gross profit." — Okabayashi (CEO), Oct 31, 2023, earnings Q&A."

"The quick headlines are $3 billion of segment operating income by 2020, and free cash flow generation of up to $5 billion for shareholder return programs and debt repayment. — Richard Kramer, CEO of Goodyear (September 2016)"

"“AOL's CEO and CFO have realized significant value in terms of restricted stock vesting in the past two years while shareholders experienced a decline in the stock price.” — A leading independent compensation consulting firm"

"And if we were a business today that we're separated from our TiO2, we would be going into 2016 saying...2016 will be a record EBITDA margin year in the history of this company. — Peter Huntsman, President & CEO, March 2016"

""Yes. Rodeo is a great asset. It's operating well at or above design rates. We're in the process of optimizing the cost structure there to get it as competitive as we can get it." — Phillips 66 CEO Mark Lashier, March 2025"

""Yes. Rodeo is a great asset. It's operating well at or above design rates. We're in the process of optimizing the cost structure there to get it as competitive as we can get it." — Phillips 66 CEO Mark Lashier, March 2025"

""Some activists can be brutal and superficial," [Charles River CEO James] Foster said. "Barry was very driven and directed, but in a low-key, collaborative, thoughtful and well-reasoned way"; Wall Street Journal, 10/7/12"

"It is our intention within the 24-month period to be able to take this combined business, this pigments business... and have a normalized EBITDA in excess of $0.5 billion — Peter Huntsman, President & CEO, September 2013"

"We believe that our platform will continue to deliver consistent results for the balance of the year with high single-digit growth in ready-mixed concrete organic volumes for the full year of 2017 — CEO Sandbrook (Q1'17)"

"“I try to approach everything with as much savagery as possible because life’s too short to make small increments,” Leproust told me. “You just have to go big or go home.” — Emily Leproust, Twist CEO, Aug 2022 interview"

""Every single number that is here is attached to a name and to a particular action. So this is not aspirational at all, just to be clear" — Daniel Pinto, JP Morgan CEO – Corporate & Investment Bank, 2/24/15 Analyst Day"

"“...The key to [profitable growth] will be [that] we will be able to live within our means and deliver, I think, very attractive financial returns on a going forward basis as I said.” — John Hess, Chairman & CEO Hess"