Quote of the Day (Merryn Somerset Webb, on Activist Investors and Corporate Boards)

“In theory all boards represent all shareholders. In practice they tend to be bogged down in regulation compliance and succession issues, operating more as stewards than challengers. A regulatory shift should require one well-supported non-executive director to be fully responsible for shareholder communication and engagement — retail and institutional; for asking about and understanding what activist investors are thinking about; and for directly promoting their views on the board. Adding a little activist magic along the way might help change boards for the better.”—UK personal finance magazine MoneyWeek editor-in-chief Merryn Somerset Webb, “Nagging Is Still the Best Way to Make Boards More Active,” The Financial Times, Apr. 2-3, 2022