05-05-2022, 12:16 PM
anyone here with activist investing experience?
<!-- SC_OFF --><div class="md"><p>I am close friends with the founder of a publicly traded company and was wondering if I could get some anonymous advice on here on how I could help him.</p> <p>He's retired and owns over 25% of the company but his CEO and board kind of keep him out of the loop on developments. He wants them to do buybacks but they’re too conservative. He wants them to sell the company so he can get liquidity for his shares (he's pretty old), but they don’t want to go through a long process involving bankers again (they went through a sale process last year and had a few bids from PE, but the one they accepted fell through at the last minute). He is the founder and has a board seat. He is a really nice guy, so he doesn't want to fight with them, but he's also very unhappy about the whole situation.</p> <p>What are our options?</p> <p>Can he elect someone to be his representative of his shares that can be tougher with the CEO/board so he can kind of preserve his reputation / not have to directly be involved in conflict? We don't want to get into a proxy fight, but I'm sure that's a threat we could use against the existing board/CEO.</p> <p>I’m wondering if he can have me as his representative on his behalf if I want to be more firm with the board than he would like to be himself? Or I can attend board meetings, etc. with him and can speak out more....bluntly than he would?</p> <p>Any thoughts?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WalterBoudreaux"> /u/WalterBoudreaux </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/uiddf8/anyone_here_with_activist_investing_experience/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/uiddf8/anyone_here_with_activist_investing_experience/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>I am close friends with the founder of a publicly traded company and was wondering if I could get some anonymous advice on here on how I could help him.</p> <p>He's retired and owns over 25% of the company but his CEO and board kind of keep him out of the loop on developments. He wants them to do buybacks but they’re too conservative. He wants them to sell the company so he can get liquidity for his shares (he's pretty old), but they don’t want to go through a long process involving bankers again (they went through a sale process last year and had a few bids from PE, but the one they accepted fell through at the last minute). He is the founder and has a board seat. He is a really nice guy, so he doesn't want to fight with them, but he's also very unhappy about the whole situation.</p> <p>What are our options?</p> <p>Can he elect someone to be his representative of his shares that can be tougher with the CEO/board so he can kind of preserve his reputation / not have to directly be involved in conflict? We don't want to get into a proxy fight, but I'm sure that's a threat we could use against the existing board/CEO.</p> <p>I’m wondering if he can have me as his representative on his behalf if I want to be more firm with the board than he would like to be himself? Or I can attend board meetings, etc. with him and can speak out more....bluntly than he would?</p> <p>Any thoughts?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WalterBoudreaux"> /u/WalterBoudreaux </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/uiddf8/anyone_here_with_activist_investing_experience/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/uiddf8/anyone_here_with_activist_investing_experience/">[comments]</a></span>