Callouts & quotes from 497+ activist slides

"For instance, at The Procter & Gamble Company ("P&G"), a household products company where Mr. Peltz served on the board of directors from 2018 until 2022, he helped P&G develop and oversee a "Four-Year Overhaul" that resulted in P&G "making several dramatic changes to help improve performance" and "streamlin[ing] its operations from 10 business units to six, improv[ing] its earnings growth, clear[ing] out bureaucracy and increas[ing] accountability." — Source: Article titled "Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul," published August 5, 2021 by Bloomberg."

"For instance, at The Procter & Gamble Company ("P&G"), a household products company where Mr. Peltz served on the board of directors from 2018 until 2022, he helped P&G develop and oversee a "Four-Year Overhaul" that resulted in P&G "making several dramatic changes to help improve performance" and "streamlin[ing] its operations from 10 business units to six, improv[ing] its earnings growth, clear[ing] out bureaucracy and increas[ing] accountability." — Source: Article titled "Peltz to Depart P&G Board, Capping Nearly Four-Year Overhaul," published August 5, 2021 by Bloomberg."

""Trian is in the business of making good companies a lot better. Their research, analysis, and recommendations are focused on operational and strategic initiatives to build shareholder value over the long term. They ask tough, probing questions, do rigorous fundamental work to understand a company, and develop ideas to help it grow and increase profits. They also are persistent, thoughtful, and creative agents for change." — Dennis Kass, Former Chairman and CEO, Jennison Associates, former Chairman and current Director of Legg Mason, Inc., and current Trian Advisory Partner."

"“Trian is in the business of making good companies a lot better. Their research, analysis, and recommendations are focused on operational and strategic initiatives to build shareholder value over the long term. They ask tough, probing questions, do rigorous fundamental work to understand a company, and develop ideas to help it grow and increase profits. They also are persistent, thoughtful, and creative agents for change.” — Dennis Kass, Former Chairman and CEO, Jennison Associates, former Chairman and current Director of Legg Mason, Inc., and current Trian Advisory Partner."

""Trian is in the business of making good companies a lot better. Their research, analysis, and recommendations are focused on operational and strategic initiatives to build shareholder value over the long term. They ask tough, probing questions, do rigorous fundamental work to understand a company, and develop ideas to help it grow and increase profits. They also are persistent, thoughtful, and creative agents for change." — Dennis Kass, Former Chairman and CEO, Jennison Associates, former Chairman and current Director of Legg Mason, Inc., and current Trian Advisory Partner."

"Change would be easy enough. But if I was going to change, I'd probably look at my safety and camera provider, whether it was Samsara or Netradyne or Lytx or whoever and see if they have a bolt-on ELD program that could go with it...[Switching suppliers] would be very, very easy. — Director of Transportation at J.Polep, 9/27/22. That's easy. I can name three. Netradyne, Lytx, SmartDrive. There is clear differentiation in those products. It's night and day. It's completely different products. It's not dash cam. — Former Director of Sales, New Business at Omnitracs, 7/29/22"

"“These consolidated financial statements have been prepared on a going concern basis notwithstanding the net current liabilities as at March 31, 2016 because the directors of the Company are of the opinion that based on the unconditional banking facilities of RMB 11,231,622,000 not utilised by the Group as of the date of issue of these consolidated financial statements, the Group would have adequate funds to meet its liabilities as and when they fall due at least twelve months from the end of the reporting” — KPMG (Huishan's auditor) disclosure in notes to the financials."

"Given the lack of change in management and lack of sustained growth, the board has not done a good job of oversight — Foreign Buyside Analyst; The board of directors is not independent... they are doing things in a half-hearted way — Domestic Sellside Analyst; CPG is a street fight at the shelf...How do you do that with a largely Japanese board that has nobody from marketing, nobody from E-Com, nobody from supply chain on there? — Foreign Buyside Analyst; Even the director with the most international experience is not from the consumer sector — Domestic Sellside analyst"

"“you would be very unlikely to see us overnight, going and exploding the leverage profile of this business.” — Burford Management; “I think we have you know, at least I have largely been focused on public investors and on rebutting the various,” — Burford CEO; “We are, after all, a firm run by lawyers.” — Burford Management; “The line in our report today was more about the prospect that, you know, in the in the relatively near term, we suspect, well, we believe that one of our existing directors is likely to retire from the board and be replaced.” — Burford Management"

"“Derma is a great place to be in ... generally, you are going to be pricing higher than mass cosmetics so the margins are better, but very often you will be going through the same retail channels as mass so there a distribution overlaps if you are already playing in mass. Because it tends to occupy a middle ground between prestige and mass cosmetics it's also one of those items that tends to be less susceptible to budget cutting in a recession as well versus prestige cosmetics” — Former Unilever Prestige Cosmetics Division Brand Director, Oasis interview November 2023"

"“Ginkgo wanted to pretty much control everything and be in charge.” — Current executive at Motif; “They had the same experience as us. Joyn Bio’s feedback is that Ginkgo wanted to pretty much control everything and be in charge.” — Current executive at Motif; “So, I do think they [Joyn Bio] did try to push to be independent, to be fair. But I do think that with the follow-on companies that they've announced since then have been crafted or architected in a different way to prevent that from happening because Ginkgo lost control of Joyn” — Former director-level employee"

"“Delaying cases for the morning is true - let me be real blunt. You have to beg the nurses to come in and pay them a lot of money and anesthesia, the same way. In fact, some of the anesthesia people will quit after a while because they don't want to work all night. So, when we do this, it's for the operating room team to start at the normal time, at 7:30 in the morning...So, do some centers use it on everyone when they don't need to? Absolutely correct and absolute fact.” — Transplant surgeon and transplant program director at a major academic center in Pennsylvania"

"“The SEC has recently confirmed, with little further guidance, that in fact fair value is not intended to be a ‘fire sale’ price. In In Re Parnassus Investments, an administrative law judge found that the fund had violated the requirement that the fund’s board of directors fair value restricted securities in good faith. Respondent had argued that the ‘current sale’ requirement was tantamount to a ‘fire sale.’ The judge responded that ‘[r]espondents are correct in that fire sale pricing was never the intention of the Commission.” — SEC/In Re Parnassus Investments"

""Their Jet7 catheter sucks and they know it... [Penumbra's] CEO was just on a goodwill tour trying to make sure -- his last words for us as we all shook hands goodbye was 'Don't give up on us.'" — Neurosurgeon; "[Penumbra] launched their smart coils with a lot of fanfare, but it has not come through in the way they said it would. It did not surpass the technology of Target, Stryker's Coil, which is #1 in the in the US and World Market." — Neurovascular Products Sales Director; "Homeboy wouldn't be going on goodwill tours if they were rocking it." — Neurosurgeon"

"“What they do is very low margin and labor-intensive to provide that service. You can see the gene oligo synthesis. You can probably automate it. They try to automate all of the processes. They try to decrease the cost, but the problem is DNA oligo synthesis has a very low value. You cannot sell it very high, even for the DNA and, yes, the panel; you have to customize it. You have to have someone test and design those oligos and test those oligo sets to demonstrate it works. You have to improve it. It takes manual labor.” — Former Twist employee, director-level"

""There is a risk that regulatory authorities in some jurisdictions may find that our contractual relationships with our fertility specialists violate laws prohibiting the corporate practice of medicine and/or fee-splitting." — Progyny 10-K; "the way Progyny does it, it's in the contract. And so basically you get a bonus, not a huge amount, but you get a bonus. So it's added to your reimbursement..." — Fertility clinic executive in PGNY network; "they pay a little additional funds if you do single embryo transfer" — Former Director of National Accounts, PGNY"

""found two things that could put me in prison if I had not done anything about it." — Former employee; "I would rather not discuss this business as I felt I had to resign to avoid future risks to my professional credibility and future as a company director." — Former employee; "Let me put it this way. The entire time I was there, one of my roles at OSI was [redacted]. And OSI was doctrinaire, exceedingly exacting, for all of its subsidiaries including Rapiscan and S2 and everyone else about compliance with the anti-bribery act..." — Former senior employee"

"“There’s a lot of competition. You probably realized we’re shifting a lot of the business away from them, actually. We’re rarely using Twist now. That’s my current company’s situation. So, a lot of gene synthesis is called protein expression. It’s a protein or an antibody. We can actually use a different company in China called Biointron. They synthesize DNA from DNA synthesis to deliver protein in three weeks. That’s three weeks. Twist can barely deliver DNA construct. And the other company can deliver proteins.” — Former Twist employee, director-level"

""The Company had capital expenditures with Floor & Decor Holdings, Inc., a specialty retail vendor in the flooring market. These capital expenditures amounted to $0.1 million, $0.6 million, and $0.4 million in fiscal 2023, fiscal 2022, and fiscal 2021, respectively, and were recorded as property and equipment, net on the consolidated balance sheets. During these fiscal years, certain members of the Company's board of directors either served on the board of directors or as an executive officer at Floor & Decor Holdings, Inc." — Boot Barn Proxy Statement"

"“Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent.” — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

""Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent." — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

"“Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent.” — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

""[Management] is unequaled in its efforts to put a positive spin on bad news by accentuating the positive and eliminating the negative.... [I]f free cash flow looks bad, it will redefine it.... [S]omeday we will write a treatise on the psychology of earnings reports and presentations. And Alcoa will be our case study.... I think Alcoa is one of the more blatant spin doctors.... [N]othing ever looks bad in management’s version of the world, where all the news is good news." — Carol Levenson, Director of Research for Gimme Credit, July 31, 2016"

"“Compounding pharmacies, that’s their business. They have a vested interest in using that for this. And it’s like, oh look at that. Usually, it’s just specialty prescribing and dose limitations that we start with for an orphan drug with no other approved therapies within it...then it’s like, oh, then you have to tell us why you can’t use the compounded version [...] it would be a simple email to our head of pharmacy. Tell me why we can’t use a compounding pharmacy to do the same thing here.” — Medical director at Blue Shield of California"

"As stakeholders in Solvay we demand that the Board of Directors publicly states that the Company commits to bring its Rosignano plant fully in line with the strictest requirements of the UN Sustainable development goals (SDGs), with reference to SDG 14 (“Conserve and sustainably use the oceans, seas and marine resources for sustainable development”) and SDG 14 Target 14.1 (“By 2025, prevent and significantly reduce marine pollution of all kinds, particularly from land-based activities, including marine debris and nutrient pollution”)"

"I think that if Carvana has the ability to control the volume at which they're ramping, they're much more likely to succeed than if they are putting themselves in a position where they want to ramp to the volume that the market requires or the market wants...if [Carvana] can take their time and grow as they please based on the systems they have in place, there will be challenges, but it's doable. If they have to ramp beyond what they're comfortable with, the only levers you can pull is to spend money. — Former Director of Operations"

""With Kao's world-class brands, the Company can, and should, be a global leader. However, unlocking this potential requires an ambitious, growth-oriented strategy led by an independent and highly-qualified Board. Shareholders now face a clear choice: support the election of outside directors with the expertise needed to drive growth, or maintain the status quo. There is no downside risk -- only the opportunity to strengthen Kao's leadership, focus, and strategic direction." — Seth Fischer, Founder & Chief Investment Officer of Oasis"

""everything I know about LifePort and the research published out of Columbia shows that it is superior to TransMedics for liver" — Transplant surgeon; "I definitely think there are threats on the horizon" — Transplant surgeon at a high-volume West Coast academic center; "The only companies in the U.S. approved for lung are XVIVO and TransMedics. For heart, TransMedics is the only device approved, but they're competing against NRP, which is what we use." — Prominent surgeon, Director of leading West Coast academic transplant center"

"“…new competitors are coming in with more or less the same offering, but with lower prices…You invested millions of dollars in generating [peer-reviewed articles]…Because any of these new guys, like Beat2Phone, CAM patch from Bardy, Bittium, can easily beat you by putting the same thing, data on filing, and reducing the price by 30%…I’m not saying that Philips is in this, but the smaller ones are definitely very aggressive, let’s put it like this, or the newcomers.” — Tegus Interview with Director at Philips Healthcare, 6/27/24"

"Search for a new director did not commence until after Elliott launched its proxy contest. Mr. Hess replaced Sir Martin Sorrell, who only attended 63% of Arconic's board meetings in 2016 – this would have resulted in an automatic AGAINST recommendation by major proxy advisors. Mr. Hess decided to join the Board after Elliott launched proxy contest and promptly endorsed a failed CEO, which Sir Sorrell has a significant stake, was compensated for Dr. Kleinfeld's wasteful and exorbitantly expensive Jetsons marketing campaign"

""I can't tell what's different about them." — Current Joyn executive; "I think both companies were always looking jealously at each other or trying to one-up each other. But I don't think there's a large differentiation between the two companies per se besides that historical philosophy... they're more similar to each other than they are different." — Former director level employee; "Wow, it's like Zymergen too here. All the same stuff is happening, except it's happening even faster at Ginkgo." — Former Ginkgo employee"

""Trian has chosen this path [a proxy contest] with the potential to disrupt our Company at a key stage of execution against our plan" — DuPont Press Release, 1/8/15; "Trian’s presence on the Board will create substantial risk in Heinz’s ability to deliver value to all shareholders" — Heinz (6/06); "I said to another CEO that if I were to form a board today, Nelson [Peltz] would be one of the first directors I’d ask to serve... [Trian’s] team had good questions and good suggestions." — Bill Johnson, CEO Magazine (3/08)"

""Trian has chosen this path [a proxy contest] with the potential to disrupt our Company at a key stage of execution against our plan" — DuPont Press Release, 1/8/15; "Trian's presence on the Board will create substantial risk in Heinz's ability to deliver value to all shareholders" — Heinz (6/06); "I said to another CEO that if I were to form a board today, Nelson [Peltz] would be one of the first directors I'd ask to serve... [Trian's] team had good questions and good suggestions." — Bill Johnson, CEO Magazine (3/08)"

""The contribution margin was something in the 40-cent range for the cases you use TransMedics on." — Prominent surgeon, Director of leading academic transplant center; "Waleed and his people got so angry at the Duke guy for bringing it up. I know for a fact that the Duke guys were on target to do a huge percentage of their liver transplants using TransMedics in a given year but they dropped their volume by 20% because they were taking such a bath." — Prominent surgeon, Director of leading academic transplant center"

"As of December 31, 2022, we own a 36 % interest in Sairopa. We determined that we have the ability to exercise significant influence over Sairopa but do not have a controlling interest. Therefore, the investment in Sairopa was accounted for using the equity method. Judgment regarding the level of influence over each equity method investment includes considering key factors such as ownership interest, representation on the board of directors, and participation in policy-making decisions. — Chinook 2022 10-K pg. 113"

"“to put it mildly, a lot of different things are going to happen clinically to that organ...if you have blood doing through very, very small tubing...that is not healthy...these plastic tubes...red blood cells lyse and cause hemolysis...enzymes will leak out of the liver...all of these markers are essentially early markers of liver failure...increasing at a very high rate if the liver is on for an extend period”; “infection risk increases the longer this thing is not transplanted....” — Medical director at OrganOx"

""the review process is already ongoing, if your proposal requires urgent consideration, we kindly ask that you promptly submit specific candidates the Nomination Committee." — Kao (November 22). "We feel it's important for us to make the announcement... there's nobody else from our end that we'd recommend as candidates that's going through any of the procedures." — Nomination Committee (December 5). "decision was made before Oasis Management proposed any director candidates" — Kao press release dated December 12."

"“The ‘strategic partnership,’ however, is a sham designed to lock up a significant portion of the vote in favor of the Board’s recommended slate of directors. Specifically, simultaneous with the announcement of the Investment Agreement, the Board announced plans to use the proceeds to launch a ‘Dutch Auction’ self-tender to purchase $500 million of common stock in the open market, indicating the Company had no operational need to raise capital.” — Building Trades Pension Fund of Western Pennsylvania (Complaint)"

""[Bob] Iger had personally selected every member of the board, which is surprisingly lacking in media and entertainment experience. Iger is personally close with several of them, including Nike Executive Chairman Mark Parker and General Motors CEO Mary Barra [who is on Disney's Compensation Committee]. In addition, the wife of another director, Michael Froman, then vice chairman of Mastercard and now president of the Council on Foreign Relations, had been housemates with Iger's wife..." — CNBC, September 2023"

"On May 3, 2022, the Company's board of directors amended the share repurchase program adopted on March 4, 2022 to increase the aggregate amount the Company is permitted to repurchase from an aggregate amount of up to $150m to an aggregate amount of up to $600m of the Company's common stock. Additionally on May 3, 2022, the Company's board of directors adopted a dividend policy. Pursuant to this policy, the board intends to pay aggregate cash dividends of $1.50 per share of common stock per year. — Source"

""We're realists about the business and about the impact technology has had on how product is distributed, marketed, and consumed... All of this has and will continue to put pressure on the multi-channel ecosystem, which has seen a decline in overall households as well as growth in so-called skinny or cable-light packages. ESPN has experienced some modest sub losses, although those have been less than reported by one of the prominent research firms." — Robert A. Iger, Disney CEO & Director, August 2015"

"“BlackRock clearly stated that climate risk is an investment risk, but actions speak louder than words. The appointment of the CEO of the world’s largest oil producer to BlackRock’s board undermines its own stated climate commitments. At a time when financial institutions need to take a collective approach to addressing the financial risks from climate change, BlackRock shareholders expect climate-competent, not climate-conflicted, directors” — Brad Lander, the New York City Comptroller, 19 July 2023"

""The new governance is a concern to us, the risk of dismantling and governance that would not take into account the shareholders' interest may cause Vivendi to consider as permitted by law, to request the convening of a Shareholders' Meeting to propose to reorganize the board of directors." — Arnaud de Puyfontaine, Vivendi CEO, May 17, 2018; "A Board with any single party in control faces the likely prospect of continued proxy challenges by the other party." — Vivendi Presentation, February 25, 2019"

""How do you measure success? The answer is right here. We launched in the US and within 9 months there was a national oat milk shortage. It's cool but not cool because you want to supply that. We've come to realize we'll never be able to make enough oat milk. The demand is more great than the supply. It doesn't matter how fast we build our factories, because we're building them as fast as we can. And that's a cool way to measure success." — John Schoolcraft, Oatly's Creative Director of Mind Control"

"We're realists about the business and about the impact technology has had on how product is distributed, marketed, and consumed... All of this has and will continue to put pressure on the multi-channel ecosystem, which has seen a decline in overall households as well as growth in so-called skinny or cable-light packages. ESPN has experienced some modest sub losses, although those have been less than reported by one of the prominent research firms. — Robert A. Iger, Disney CEO & Director, August 2015"

"BlackRock clearly stated that climate risk is an investment risk, but actions speak louder than words. The appointment of the CEO of the world’s largest oil producer to BlackRock’s board undermines its own stated climate commitments. At a time when financial institutions need to take a collective approach to addressing the financial risks from climate change, BlackRock shareholders expect climate-competent, not climate-conflicted, directors — Brad Lander, the New York City Comptroller, 19 July 2023"

"“Exactly. I would say that the person that was the director of R&D, pretty much overseeing the project, was actually a Ginkgo employee at first, so he had really little say because he was an insider from Ginkgo, so he couldn’t really tell them what you’re doing is not the perfect thing. I work for Motif, and I need to have the best result for Motif. And so, you can promise me everything or anything, but at the end of the day, you have to deliver commercial strains for us.” — Current Motif executive"

"PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH M. DEMAREST, JR., Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation, announced today that Optimal Group, Inc ("Optimal")—a company based in Canada and publicly traded on the NASDAQ—agreed to forfeit approximately $19.2 million in criminal proceeds derived from processing payments for illegal Internet gambling websites as part of a non-prosecution agreement ("NPA")."

"TSMC is not buying the High-NA Lasertec tool... no confidence... it will be reliable product... I hear offline it's not very reliable... the A150... needs a lot of support, and it has a lot of issues... what I know is that TSMC is upset because the source is not working... the source does not have enough uptime... cost of service is too high... they are flickering... I heard that they failed... Lasertec probably must write off those tools. — Ex-KLA director of engineering / Former KLA executive"

""Director Smith serves as CFO of the Company. We believe that the unique financial information and control over a company's finances that is typical for a CFO should place the CFO in the position of reporting to and not serving on the board. It is crucial for the board to be in the position of overseeing the Company's finances and its reporting. This oversight is likely to be more complicated and less rigorous when the CFO sits on the same board to which they report." — Glass Lewis 2017 Report"

""And I’m not sure another studio will ever achieve some of the numbers that we achieved. I mean, we got to the point where if a film didn’t do a billion dollars in global box office, we were disappointed…That’s an unbelievably high standard and I think we have to get more realistic." — Robert A. Iger, CEO & Director, November 2023; "I think the bar is now raised in terms of quality about what gets people out of their homes, into movie theaters." — Robert A. Iger, CEO & Director, November 2023"

"“There are very few technical challenges at iRhythm, but many procedural and political ones. Decision making is terrible. Inconvenient truths are hidden under Directors and hand-waved away to be fixed later - the result is significant technical debt (in my opinion) in the core products while trying to scale. These problems are surmountable, but not with current leadership, and not without holding middle-management accountable for performance.” — Engineering Lead, iRhythm, Glassdoor, 11/14/24"

"I think for soybean and corn trading, it's going to be challenging. It's not that Bunge plus Viterra will be 1+1=two. 1+one would be 1.5, to be very honest, because there were overlaps. I know Viterra operation in Brazil very well. I think most places where Viterra operated, Bunge will reduce because Viterra would trade with a lot of commercials, companies that Bunge, Cargill, and ADM would not trade with. They would definitely reduce volume, especially for the initial years. — ADM Director"

"Nelson was a terrific colleague on the Heinz Board. His focus was on constructive contribution. He added keen insights and a colorful wit to our board discussions. Nelson is a problem solver who understands strategic opportunities and he works in a collegial manner with his fellow board members to achieve the company’s goals. I relished my experience working with Nelson. — Leonard Coleman, Former President, National League of Professional Baseball, and former Director of H.J. Heinz Company"

"Nelson was a terrific colleague on the Heinz Board. His focus was on constructive contribution. He added keen insights and a colorful wit to our board discussions. Nelson is a problem solver who understands strategic opportunities and he works in a collegial manner with his fellow board members to achieve the company’s goals. I relished my experience working with Nelson. — Leonard Coleman, Former President, National League of Professional Baseball, and former Director of H.J. Heinz Company"

"Nelson was a terrific colleague on the Heinz Board. His focus was on constructive contribution. He added keen insights and a colorful wit to our board discussions. Nelson is a problem solver who understands strategic opportunities and he works in a collegial manner with his fellow board members to achieve the company’s goals. I relished my experience working with Nelson. — Leonard Coleman, Former President, National League of Professional Baseball, and former Director of H.J. Heinz Company"

"“is the best way to do that” — An ex-KLA director of engineering. “a well-engineered system is more important than the wavelength” — An ex-KLA director of engineering. “the DUV tools actually do work [for EUV masks]...those tools work really well and have been well-engineered for a long period of time.” — An ex-KLA director of engineering. “made essentially their own...in-house inspection system...so did Intel...Intel doesn't talk about it, but they did” — A leading EUV lithography expert."