The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Sat, 06 Jun 2026 11:30:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Board Ready: Shareholder Activism, Corporate Governance and the Hunt for Long-Term Value – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Board Ready: Shareholder Activism, Corporate Governance and the Hunt for Long-Term Value https://corpgov.law.harvard.edu/2018/06/14/board-ready-shareholder-activism-corporate-governance-and-the-hunt-for-long-term-value/?utm_source=rss&utm_medium=rss&utm_campaign=board-ready-shareholder-activism-corporate-governance-and-the-hunt-for-long-term-value https://corpgov.law.harvard.edu/2018/06/14/board-ready-shareholder-activism-corporate-governance-and-the-hunt-for-long-term-value/#comments Thu, 14 Jun 2018 13:28:33 +0000 https://corpgov.law.harvard.edu/?p=108186?d=20180716161925EDT Posted by Sabastian V. Niles, Wachtell, Lipton, Rosen & Katz, on Thursday, June 14, 2018
Editor's Note:

Sabastian V. Niles is a partner at Wachtell, Lipton, Rosen & Katz, focusing on rapid response shareholder activism and preparedness, takeover defense and corporate governance. This post is based on a Wachtell Lipton memorandum by Mr. Niles.

Related research from the Program on Corporate Governance includes The Myth that Insulating Boards Serves Long-Term Value by Lucian Bebchuk (discussed on the Forum here); The Long-Term Effects of Hedge Fund Activism by Lucian Bebchuk, Alon Brav, and Wei Jiang (discussed on the Forum here); and Who Bleeds When the Wolves Bite? A Flesh-and-Blood Perspective on Hedge Fund Activism and Our Strange Corporate Governance System by Leo E. Strine, Jr. (discussed on the Forum here).

As the spotlight on boards, management teams, corporate performance and governance intensifies, as articles like the Bloomberg and Fortune profiles of Elliott Management (“The World’s Most Feared Investor—Why the World’s CEOs Fear Paul Singer” and “Whatever It Takes to Win—How Paul Singer’s Hedge Fund Always Wins”) and other activist investors become required reading in every boardroom and C-suite, and as activist campaigns against successful companies of all sizes increase worldwide, below are fifteen themes expected to impact boardroom, CEO and investor behavior and decision-making in the coming years.

  1.  The CEO, the Board and the Strategy.
  2.  Activism Preparedness Grows Up.
  3.  Companies Standing Up, Playing Offense and Showing Conviction without Capitulation.
  4.  Activists Standing Down.
  5.  “Shock, Awe & Ambush” Meets the Power of Behind the Scenes Persuasion.
  6.  Better Index IR and Not Taking the Passives (or Other Investors) for Granted.
  7.  Quarterly Earnings Rituals.
  8.  Embracing the New Paradigm and Long-Termism.
  9.  Convergence on ESG and Sustainability.
  10. Dealing with the Proxy Advisory Firms.
  11. Board Culture, Corporate Culture and Board Quality.
  12. Capital Allocation.
  13. Directors as Investor Relation Officers.
  14. The General Counsel as Investor Relations Officer.
  15. The Nature of Corporate Governance.

(more…)

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