Ackman snipes at ex-nemesis Icahn during investor summit

Discussion in 'Wall St. News' started by dealmaker, Apr 18, 2018.

  1. dealmaker

    dealmaker

    Business

    Ackman snipes at ex-nemesis Icahn during investor summit
    By Carleton English

    April 17, 2018 | 7:53pm

    [​IMG]
    Bill Ackman Getty Image

    So much for the bad blood dissipating between billionaire investors Bill Ackman and Carl Icahn post-Herbalife.

    Ackman, his ego apparently still bruised from his failed $1 billion bet against Herbalife, opined on Tuesday on the brewing battle at Newell Brands — pitting Icahn against fellow activist Jeffrey Smith of Starboard Value.

    Newell “was so afraid of losing the proxy contest, they made a deal with the devil, so to speak,” Ackman said, referring to Newell’s recent decision to grant Icahn five seats on its board.

    Ackman, perhaps realizing his mouth moved faster than his brain, quickly tried to dial back his comments when his “devil” comment drew a mix of gasps and laughter from those at the 13D Monitor Active-Passive Investor Summit.

    “I meant that in the most positive way about Carl,” Ackman quickly added.

    The Pershing Square founder then quickly moved onto safer topics.

    In comments on companies in his own portfolio, Ackman said Chipotle Mexican Grill is the investment he’s most excited about — calling the burrito chain’s newly appointed chief executive and Taco Bell alum Brian Niccol “absolutely outstanding.”

    “There hasn’t been innovation at Chipotle for a decade and that’s really going to change,” Ackman said, hinting at breakfast, dessert and later hours at the burrito chain, which has been hampered by several food-safety scares in the past two years.

    Also concerning Ackman in the corporate governance space is lack of diversity on corporate boards.

    “I’ve actually have wanted to run a proxy contest with an all-female diverse, ethnic slate. I think it sends an incredible message and I think we’d win hands down.” Ackman said in response to a question from a reporter from The Post.

    But recruiting diverse candidates — particularly women — for a proxy context has been challenging, Ackman conceded.

    “If you’re a diverse candidate whether its gender, ethnic or otherwise and you’re interested in serving in an activist contest, get in touch with us,” Ackman said.

    But even Ackman had to admit limits to his desire to truly run a diverse slate, since he — a white male — at times puts himself up as a nominee.

    “I wasn’t prepared to do anything about my own gender … there’s certain lengths I’m willing to go to when I’m running a slate,” Ackman said.

    https://nypost.com/2018/04/17/ackma...t/?utm_campaign=iosapp&utm_source=twitter_app
     
  2. Saltynuts

    Saltynuts

    butt hurt
     
  3. dealmaker

    dealmaker

  4. dealmaker

    dealmaker

    ""