Weekly Activism & Executive Moves Review (Mar 29)

by | Mar 29, 2024

WEEKLY SNAPSHOT

The biggest news regarding CEO moves this past week was the announcement that Dave Calhoun will be stepping down as Boeing (BA) CEO at the end of this year (see WSJ article here). Many agree with us that it doesn’t make sense for Calhoun to remain in charge for that full duration given all of BA’s issues, but it is critical they find the right next CEO. Moreover, we’d argue that even more change is needed and that starts with the board.

In our view, every board member should up for replacement at the Boeing shareholder meeting. Eleven of the thirteen (11 of 13) board members have been there for more than two years and clearly have not been able to get things in order. Additionally, if Calhoun isn’t the right CEO, then shareholders must ask if they believe a board that still has five  of the board members that selected Calhoun as CEO (6 if you include Calhoun) is the right group to pick the new CEO. 

More broadly, we continue to be amazed at the high levels of support that directors receive regardless of company performance. One must ask why it is almost always necessary for an activist to become involved before shareholders really stand up and make their voices heard. We just published a look at almost 300 directors that shareholders have voiced concerns about in early 2024 voting, but even in scenarios where performance is unquestionably terrible, directors receive support that suggests a majority of shareholders aren’t being critical enough. Over the course of the coming weeks, during our favorite season — proxy season — we’ll be looking at a number of poorly performing companies and their boards and flagging those we think should be voted out.

Company Ticker 1-Yr TSR 3-Yr TSR 5-Yr TSR Avg Director Rating Avg Vote FOR Directors Vote FOR Pay Activist Vulnerability Director % FOR Director Director TSR Director Rating
BOEING CO BA -3.8% -21.2% -47.2% C 95.7% 74.0% HIGH Sabrina Soussan
Steven M Mollenkopf
John M Richardson
Ronald A Williams
Robert A Bradway
David L Calhoun
Lynne M Doughtie
David L Gitlin
Lynn J Good
Stayce D Harris
Akhil Johri
David Leon Joyce
Lawrence W Kellner
96.9%
95.7%
97.0%
92.5%
96.1%
95.0%
96.4%
96.9%
94.8%
96.7%
96.0%
95.7%
94.2%
-6%
11%
-12%
10%
6%
11%
-2%
21%
5%
-7%
11%
-5%
12%
C-
D
D
B-
C+
B
C-
B+
C-
C
D
C+
C+

 

Thankfully, in our opinion, activists are on the march so far in 2024 and pushing companies to do better. Below you’ll see some of the latest actions on cooperation agreements, 13-Ds and proxy contests.

You can also catch up on activist activity from the last few weeks here:

ACTIVISM UPDATE

LATEST COOPERATION AGREEMENTS

TARGET 1-Year TSR ACTIVIST SUMMARY FILING DATE STOCK CHANGE DAYS SINCE
BJS RESTAURANTS INC (BJRI) 26.7% PW Partners
  • actively working together on cost structure/value creation
  • PW Partners withdraws its slate of directors
View Filing 2024-03-27 9.0% 2
FOSSIL GROUP INC (FOSL) -66.1% Buxton Helmsley
  • Adding Pamela B. Corrie to the board
  • Serial director Eugene Davis also joins the board
View Filing 2024-03-25 13.3% 4
MDU RESOURCES GROUP INC (MDU) 28.7% Keith Meister & Corvex Management
  • Board to nominate James H. Gemmel for election to the board of directors
  • Must maintain net long position of at least 8,100,000 shares
  • Extends original cooperation agreement from January 2023
View Filing 2024-03-18 13.4% 11

 

NOTABLE 13D ACTIVIST FILINGS

Quick Link: See last week’s 13D filings update

FILED TICKER COMPANY FILED BY OWNERSHIP 1-Year TSR FILING
2024-03-22 NDLS NOODLES & CO Headlands Capital Management, LLC 5.40 -62.2% 2024-03-22 – SC 13D
2024-03-21 TSP TUSIMPLE HOLDINGS INC Camac Partners, LLC 5.10 -89.9% 2024-03-21 – SC 13D

 

PROXY CONTEST RESULTS

TICKER COMPANY ACTIVIST MEETING DATE SUMMARY
SBUX STARBUCKS CORP Strategic Organizing Center (SOC) MARCH 15, 2024 Vote Results – MARCH 15, 2024

  • All SBUX directors were re-elected
  • The board received an average of 95.7% support
  • Mellody Hobson (90.1% FOR) and Jørgen Vig Knudstorp (90.3% FOR) received the lowest support
  • Ritch Allison (93.3% FOR), Andy Campion (95.7% FOR) and Jørgen Vig Knudstorp (90.3% FOR) were the “opposed” directors
  • So, while the support is definitely lower than typical, it remained relatively high and most shareholders were unswayed by SOC’s push

Proxy Fight Summary

  • The Strategic Organizing Center (SOC), a coalition of unions, believes that Starbucks has implemented a flawed human capital management strategy in response to a prolonged union movement.
  • Union Dispute: Baristas at almost 400 Starbucks-owned cafes have voted for organizing since late 2021, with the first successful unionization taking place in Buffalo. The unionization movement, primarily led by younger workers and intensified under former CEO Howard Schultz’s leadership, saw Schultz return as the union fight escalated before his departure last year, replaced by Laxman Narasimhan.
  • The SOC seeks to replace three current Starbucks board members with its nominees.
  • Starbucks defends its board, highlighting their expertise in driving current operations and future success. The company emphasizes its commitment to employees, citing investments in wage increases, training, and equipment. However, contract negotiations remain unresolved despite Starbucks’ expressed intent to resume talks in January.
  • Institutional Shareholder Services (ISS) has recommended shareholders vote in favor of all Starbucks board nominees
WH WYNDHAM HOTELS & RESORTS INC CHOICE HOTELS INTERNATIONAL INC N/A RESULT

March 11, 2024 — Choice abandons it’s takeover effort and proxy contest

BACKGROUND

 

LATEST PROXY CONTEST FILINGS

TICKER COMPANY LATEST PROXY SUMMARY FILED BY FILINGS
BHR BRAEMAR HOTELS & RESORTS INC 2024-03-22 – PREC14A
  • Nominating four directors: Michael Cricenti, Jennifer M. Hill, Betsy L. McCoy and Steven J. Pully
  • Proposal to remove “overreaching” advance notice bylaw provision
  • Proposal to urge the Board to amend the Bylaws to preclude any current or former employee, director, officer, or control person of the Corporation or Ashford (as defined in the Proxy Statement) and Ashford’s affiliates from serving as the Corporation’s chairman of the Board
  • Proposal to require the Board to disclose all extraordinary transaction proposals made by stockholders, affiliates and third parties during the two most recently completed calendar years and the terms of those proposed transactions
  • Proposal to require the Board to disclose all compensation paid by the Corporation to members of the Bennett family, The Dallas Express and employees, directors or agents of The Dallas Express, including Louis Darrouzet
Blackwells Capital LLC 2024-03-22 – PREC14A
DIS WALT DISNEY CO 2024-02-06 – DEFC14A Activist / Trian Summary

  • Trian owns ~$3 billion in DIS shares.
  • Trian and Nelson Peltz are campaigning for 2 board seats, one for Mr. Peltz and one for former CFO of Disney James A. Rasulo.
  • Trian and Peltz also have the backing of Ike Perlmutter, a former Disney employee that is one of the largest independent shareholders. Perlmutter had previously agitated for Peltz to be given a board seat in 2022.
  • Trian launched an initial proxy battle in 2022 where he advocated for cutting costs, fixing the streaming business, and get executive succession right. He ended that fight early after Disney announced a restructuring that included over $5.5 billions in cuts.
  • Trian has a site dedicated to the campaign called Restore The Magic

Activist / Blackwell’s Summary

  • Blackwell’s also believes that Disney could unlock more value.
  • Blackwell’s is against Trian / Peltz receiving any board membership.
  • Blackwell’s only own’s approximately $15 million of DIS shares.
  • Blackwell’s released a video making their case against Trian here and their own site, The Future of Disney.

Other Activity

  • On February 29th, nine of Walt Disney’s grandchildren — including Abigail Disney and Roy Disney — put their weight behind Bob Iger and the current board. They forcefully rejected the idea that Trian and Nelson Peltz joining the board would be a positive for the company.
WALT DISNEY CO 2024-03-29 – DFAN14A
2024-03-28 – DFAN14A
2024-03-28 – DFAN14A
2024-03-28 – DEFA14A
2024-03-28 – DEFA14A
2024-03-28 – DEFA14A
2024-03-28 – DEFA14A
2024-03-27 – DEFA14A
2024-03-26 – DEFA14A
2024-03-25 – DEFA14A
2024-03-25 – DEFA14A
2024-03-25 – DEFA14A
2024-03-25 – DEFA14A
2024-03-25 – DEFA14A
Blackwells Capital LLC 2024-03-27 – DFAN14A
2024-03-26 – DFAN14A
2024-03-25 – DFAN14A
2024-03-25 – DFAN14A
Trian / Nelson Peltz 2024-03-27 – DFAN14A
2024-03-27 – DFAN14A
2024-03-27 – DFAN14A
2024-03-26 – DFAN14A
2024-03-26 – DFAN14A
2024-03-25 – DFAN14A
2024-03-25 – DFAN14A
2024-03-25 – DFAN14A
HCC WARRIOR MET COAL INC 2024-03-14 – DEFC14A
  • The American Federation of Labor and Congress of Industrial Organizations and United Mine Workers of America are jointly working to run a proxy fight against Warrior Met Coal
  • Proposal 1: Adopt a “poison pill” bylaw provision to require that any rights plan be submitted to a shareholder vote within one year of being adopted, extended or renewed by the Board of Directors.
  • Proposal 2: Adopt a “proxy access” bylaw provision to require that the Company include shareholder-nominated candidates in the Company’s proxy materials for up to 20 percent of the seats on the Board of Directors so long as the nominating stockholder (or a group of up to 20 stockholders) has beneficially owned at least 3 percent of Company’s outstanding shares continuously for at least three years.
  • Proposal 3: Adopt a “blank check” preferred stock amendment to the Company’s Certificate of Incorporation to prohibit the issuance of preferred stock without prior stockholder approval for any defensive or anti-takeover purpose or for the purpose of implementing any rights plan that has not been approved by stockholders within one year of adoption.
  • Proposal 4: Adopt a “golden parachute” severance agreement policy to require that all adopted, extended or renewed severance agreements with the Company’s senior executives be submitted for stockholder approval.
  • Proposal 5: Commission and oversee an independent, third-party assessment of the Company’s respect for the internationally recognized human rights of freedom of association and collective bargaining.
WARRIOR MET COAL INC 2024-03-14 – DEFA14A
2024-03-14 – DEFC14A
American Federation of Labor Congress of Industrial Organizations 2024-03-26 – DFAN14A

2024-03-18 – PRRN14A

NSC NORFOLK SOUTHERN CORP 2024-03-04 – PREC14A  

  • Norfolk Southern (NSC) has tried to fight back by “proactively” looking to refresh the board with two new directors: Richard Anderson, the former chief executive of Amtrak and Delta Airlines and former U.S. sentaor Mary Kathryn “Heidi” Heitkamp.
  • Ancora sent a scathing open letter to Chairwoman Amy Miles regarding CEO Shaw’s executive compensation increase.
  • WSJ has a good summary of the fight here.

Activist / Ancora Summary

  • Nominating 8 new directors to the board.
  • Believes that CEO Alan Shaw must go.
  • Wants to replace top executives and put Jim Barber Jr, former UPS COO, as CEO and Jamie Boychuck as COO.
NORFOLK SOUTHERN CORP 2024-03-29 – DEFA14A
2024-03-28 – DEFA14A
2024-03-28 – DFAN14A
2024-03-28 – DEFA14A
2024-03-28 – DEFA14A
2024-03-26 – DEFA14A
2024-03-26 – DEFA14A
2024-03-20 – DEFC14A
2024-03-20 – DEFA14A
ANCORA ADVISORS, LLC 2024-03-26 – DEFC14A
2024-03-26 – DFAN14A
ELAN ELANCO ANIMAL HEALTH INC
  • Ancora has buitl a $250 million position in Elanco
  • They believe Elanco’s “biggest barriers to success are the Company’s insular Board and unaccountable CEO.”
  • Elanco’s board is staggered (a governance red flag at all times)
  • Ancora argues that over any longer-term horizon, management has delivered negative shareholder return and, only when the market realized Ancora had become material investors and may create change, has the stock price begun to rise.
  • Ancora is pushing for 4 board seats for: Kathy Turner, Craig Wallace, James Chadwick, and Andrew Clarke.
ELANCO ANIMAL HEALTH INC 2024-02-29 – DEFA14A
2024-02-29 – DEFA14A
ANCORA ADVISORS, LLC 2024-02-29 – DFAN14A
CCI CROWN CASTLE INC

 

  • Crown Castle Inc. is facing a proxy battle initiated by its co-founder, Ted B. Miller, and his investment vehicle.
  • Ted B. Miller criticized the Board’s actions, asserting that they wasted shareholder resources during a period of significant value destruction.
  • Boots Capital called for immediate change, advocating for new independent directors and a fresh start.
  • Miller points to Crown Castle’s board rewriting its cooperation agreement with Elliott Management as an admission that the initial process was tainted.
  • The rewritten agreement still did not require Elliott to maintain an equity position in the company.
  • Miller has filed a lawsuit to invalidate Crown Castle’s cooperation agreement with Elliott.
CROWN CASTLE INC 2024-03-28 – DFAN14A
2024-03-28 – PREC14A
2024-03-25 – PREC14A
2024-03-25 – DEFA14A
Boots Parallel 1, LP 2024-03-14 – DFAN14A
2024-03-12 – DFAN14A
2024-03-07 – DFAN14A
2024-03-04 – DFAN14A
M MACY’S INC

 

  • Arkhouse had partnered with Brigade Capital to make a $5.8 billion takeover offer for Macy’s, which was subsequently rejected by the retailer. Arkhouse and Brigade subsuquently increased the bid from $21 per share to $24 per share.
  • Given Macy’s (M) resistance, the investors have launched a proxy contest and nominated nine director candidates
  • Macy’s new CEO, Tony Spring, started on February 4th, 2024 after heading Bloomingdale’s and Bluemercury
MACY’S INC 2024-03-14 – DEFA14A
2024-03-14 – DEFA14A
2024-03-04 – DEFA14A
Arkhouse Value Fund I LP 2024-03-14 – PREC14A
2024-03-05 – DFAN14A
2024-03-05 – DFAN14A
2024-03-04 – DFAN14A
MRC MRC GLOBAL INC 2024-03-19 – PREC14A
  • Nominating two directors to the board: Brad Favreau and Daniel Silvers
  • Engine Capital believes that MRC is significantly underperforming, especially relative to DNOW Inc.
  • Engine Capital believes that MRC’s inability to settle it’s ongoing dispute with Cornell Capital is preventing MRC from optimizing capital structure
  • Engine Capital believes that MRC’s M&A strategy is flawed and that CEO Rob Saltiel does not have a successful track record in acquisitions or integrations
MRC GLOBAL INC 2024-03-19 – DEFA14A
ENGINE CAPITAL, L.P. 2024-03-19 – DFAN14A
2024-03-19 – PREC14A
SBOW SILVERBOW RESOURCES INC 2024-03-28 – PREC14A
  • SilverBow Resources has rejected multiple offers, over the past two years, by Kimmeridge Energy Management — the latest offer valued SBW at $2.1 billion
  • SilverBow believes the offer substantially undervalues the company
  • Kimmeridge holds a 12.9% stake in SilverBow, along with Riposte Capital, the second-largest shareholder
  • Kimmeridge is also attempting to get 3 directors onto the board
  • SilverBow has rejected the three nominees citing concerns over their independence and representation of all shareholders’ interests
SILVERBOW RESOURCES INC 2024-03-28 – DEFA14A
2024-03-28 – PREC14A
2024-03-28 – DEFA14A
2024-03-28 – DEFA14A
Kimmeridge Energy Management Company, LLC 2024-03-15 – DFAN14A
SCOR COMSCORE INC
  • 180 Degree Capital has nominated Matthew McLaughlin to the SCOR’s board
180 DEGREE CAPITAL CORP 2024-03-04 – DFAN14A
COMSCORE INC 2024-03-25 – DEFA14A
WSR WHITESTONE REIT 2024-03-19 – PREC14A Erez REIT Opportunities LP 2024-03-19 – PREC14A
XPER XPERI INC 2024-03-25 – PREC14A
  • Rubric Capital opposes 2 of the 5 directors up for re-election: Deborah S. Conrad and Thomas A. Lacey
  • Rubric filed their first 13 D on January 23, 2024
  • Rubric sent XPER board a letter on January 22, 2024 nominating their directors
  • Xperi began trading as a separate company on Oct 1, 2022 after spinning out of Xperi Holding (no named Adeia Inc)
  • Xperi is down nearly 30% since the spin-off
  • Xperi has an elevated Boadroom Alpha Activist Vulnerability Score and C- average board rating
  • CEO Kirchner was paid $9.9M in 2022 despite the significant shareholder losses
  • Xperi powers the next generation of smart devices, automobiles and entertainment experiences of all kinds
Rubric Capital Management LP 2024-03-11 – DFAN14A
2024-03-08 – PREC14A
XPERI INC 2024-03-25 – PREC14A

 

CEO & CFO MOVES

CEO Changes: ALLY, BA, BKKT, DYN, LARK, LPRO, REPL, VNCE, WATT
CFO Changes: ALRN, AMG, AZZ, BHIL, EP, HNRG, LICY, MNTS, NYC

COMPANY MARKET CAP / TSR ROLE LEAVING JOINING JOINER BIOGRAPHY
AFFILIATED MANAGERS GROUP INC (AMG)  Mkt Cap: $5.5B
1-Yr TSR: 22.0%
CFO Thomas M Wojcik
5.0 yrs ; 9.0% TSR
Dava Ritchea Ms. Ritchea joins AMG from Sculptor Capital Management Inc., which was publicly listed until its acquisition by Rithm Capital Corporation; she served as Sculptor’s CFO since 2021, and also served as a member of the firm’s Partner Management Committee. Prior to joining Sculptor, Ms. Ritchea served as CFO at Assured Investment Management LLC (formerly known as BlueMountain Capi…read full bio
AILERON THERAPEUTICS INC (ALRN)  Mkt Cap: $30.1M
1-Yr TSR: 387.5%
CFO Susan L Drexler
1.8 yrs *interim;
Charles Garner Mr. Garner, age 48, has served as the Company’s Senior Vice President, Finance, since October 2023. Prior to becoming Senior Vice President, Finance, Mr. Garner was Chief Financial Officer of Lung Therapeutics, Inc., or Lung, from December 2018 to October 2023, when it was acquired by the Company, and served as Secretary and Treasurer of Lung from February 2020 to October 2023. Pri…read full bio
ALLY FINANCIAL INC (ALLY)  Mkt Cap: $12.3B
1-Yr TSR: 74.7%
CEO Douglas R Timmerman
.2 yrs *interim;
Michael George Rhodes Mr. Rhodes has more than 25 years of experience in the financial services industry. Mr. Rhodes most recently served as the Chief Executive Officer and President of Discover Financial Services and President of Discover Bank, as well as a member of the Board of Directors of Discover Financial Services and Discover Bank. He joined TD Bank Group in 2011 to lead the North American Credit Card and Merch…read full bio
AMERICAN STRATEGIC INVESTMENT CO (NYC)  Mkt Cap: $14.8M
1-Yr TSR: -19.4%
CFO Joseph Marnikovic
.5 yrs ; -2.7% TSR
Michael LeSanto   Mr. LeSanto, 38, joined the Company in 2020 as senior portfolio controller and was part of the Company as it transitioned from New York City REIT to American Strategic Investment Company. From 2021 through 2024 he served as the Company’s Chief Accounting Officer. He has served in a number of senior financial roles prior to joining the Company. From 2018 through 2020 he was Director an…read full bio
AZZ INC (AZZ)  Mkt Cap: $1.9B
1-Yr TSR: 98.4%
CFO Philip A Schlom
4.5 yrs ; 30.6% TSR
Jason Crawford  Mr. Crawford is currently serving as the Vice President of Finance – Precoat Metals, with Precoat Metals Corporation, a wholly owned subsidiary of AZZ, and has served in this role since May 2022, when AZZ acquired Precoat Metals, then a subsidiary of Sequa Corporation. Prior to 2022, Mr. Crawford’s tenure with Precoat Metals/Sequa Corporation included the role of Senior Vice Pres…read full bio
BAKKT HOLDINGS INC (BKKT)  Mkt Cap: $148.0M
1-Yr TSR: -69.1%
CEO Gavin Constantine Michael
2.4 yrs ; -68.3% TSR
Andrew A Main Andrew A. Main has been a member of our Board since the Closing and has significant technology and marketing expertise. Mr. Main served as the Chief Executive Officer of Ogilvy, an advertising, marketing and public relations agency from 2020 to 2022. Prior to joining Ogilvy, Mr. Main was the Global Head of Deloitte Digital, the digital consultancy branch of Deloitte from 2014 to 2020 where he over…read full bio
BENSON HILL INC (BHIL)  Mkt Cap: $42.4M
1-Yr TSR: -82.1%
CFO Dean P Freeman
2.0 yrs ; -71.9% TSR
Susan Keefe Prior to joining GreenLight Biosciences, Keefe served as Chief Financial Officer, Vice President Finance of Danforth Advisors from 2018 to 2019, and previously as Vice President, Finance and Administration and Corporate Treasurer of Aushon Biosystems from 2013 to 2018. Earlier in her career, Keefe held a variety of financial leadership positions across several organizations, including SeraCare Lif…read full bio
BOEING CO (BA)  Mkt Cap: $117.8B
1-Yr TSR: -3.8%
CEO David L Calhoun
3.9 yrs ; -4.7% TSR
TBD TBD
DYNE THERAPEUTICS INC (DYN)  Mkt Cap: $2.3B
1-Yr TSR: 160.9%
CEO Joshua T Brumm
4.4 yrs ; 6.3% TSR
John Cox Prior to his appointment as President, Chief Executive Officer and Director of the Company, Mr. Cox, age 61, served as the Chief Executive Officer and a member of the Board of Directors of Repertoire Immune Medicines, Inc., a biotechnology company, from January 2020 to November 2022. Prior to that, Mr. Cox served as the Executive Chairman of Torque Therapeutics, Inc. (“Torque&rdquo…read full bio
EMPIRE PETROLEUM CORP (EP)  Mkt Cap: $117.0M
1-Yr TSR: -58.7%
CFO Stephen L Faulkner Jr
.8 yrs ; -54.3% TSR
TBD TBD
ENERGOUS CORP (WATT)  Mkt Cap: $10.6M
1-Yr TSR: -80.1%
CEO Cesar Johnston
2.7 yrs *interim; ; -71.2% TSR
Mallorie Sara Burak
(interim)
Prior to joining the Company, Ms. Burak served as President and Chief Financial Officer of Knightscope, Inc., an advanced public safety technology company, from October 2020 to January 2024, Chief Financial Officer of ThinFilm Electronics ASA, a solid-state lithium battery start-up, from July 2019 to June 2020, and Chief Financial Officer of Alta Devices, Inc., a GaAs thin-film sola…read full bio
HALLADOR ENERGY CO (HNRG)  Mkt Cap: $185.9M
1-Yr TSR: -39.5%
CFO Lawrence D Martin
8.0 yrs ; 5.3% TSR
Marjorie Anne Hargrave Ms. Hargrave, 60, is an accomplished financial executive with experience across a variety of industries, including the power sector.  Since 2023, Ms. Hargrave served as Chief Financial Officer of Leanin’ Tree, Inc., a manufacturer and distributor of greeting cards.  Between 2019 and 2022, she served as the President and CFO of Enservco Corporation, a diversified national provider o…read full bio
LANDMARK BANCORP INC (LARK)  Mkt Cap: $105.4M
1-Yr TSR: -.1%
CEO Michael E Scheopner
10.2 yrs ; 8.1% TSR
Abigail M Wendel Ms. Wendel, age 50, has served in the banking industry for over 27 years. Since 2018, Ms. Wendel has been serving as President of Consumer Banking for UMB Bank, N.A. (“UMB”). UMB is a regional bank headquartered in Kansas City, Missouri, with over $44.0 billion in assets. Prior to her latest role at UMB, Ms. Wendel served as Senior Vice President and Director of Corporate Strategy, Gov…read full bio
LI-CYCLE HOLDINGS CORP (LICY)  Mkt Cap: $184.4M
1-Yr TSR: -78.9%
CFO Debbie Simpson
2.3 yrs ; -70.7% TSR
Craig Cunningham
(interim)
Mr. Cunningham, age 40, has more than 17 years of accounting, finance, operational and capital markets experience and previously served as Chief Financial Officer of Electra Battery Materials from June 2022 to July 2023, where he was a key contributor to the company’s strategy and provided key financial oversight and controls to major projects. Prior to joining Electra Battery Materials…read full bio
MOMENTUS INC (MNTS)  Mkt Cap: $2.8M
1-Yr TSR: -98.5%
CFO Eric R. Williams
.9 yrs ; -97.7% TSR
Lon Ensler
(interim)
Mr. Ensler has more than 30 years of experience as a financial executive. Since February 2019, he served as the Chief Financial Officer of Ziteo Medical, Inc., a provider of next generation molecular imaging medical devices. Prior to that, Mr. Ensler provided advisory, consulting and interim CFO services for a number of companies through his consulting firm Ensler Consulting from June 2015 through…read full bio
OPEN LENDING CORP (LPRO)  Mkt Cap: $744.2M
1-Yr TSR: -10.4%
CEO Keith Jezek
1.4 yrs ; -18.1% TSR
Charles D Jehl
(interim)
Charles D. Jehl has served as the Chief Financial Officer of Open Lending since August 2020. Prior to his appointment, Mr. Jehl served as a consultant to the Company since April 2020. From 2015 through 2019, Mr. Jehl served as Chief Financial Officer and Treasurer of Forestar Group Inc., NYSE-listed company (“Forestar Group”). Prior to that, Mr. Jehl served in other executive positions with Forest…read full bio
REPLIMUNE GROUP INC (REPL)  Mkt Cap: $501.5M
1-Yr TSR: -57.5%
CEO Philip Astley-Sparke
4.3 yrs ; -11.8% TSR
Sushil Patel Dr. Patel, age 53, joined the Company’s management team as chief commercial officer in May 2021 and subsequently transitioned to the Company’s chief strategy officer in December 2022. From April 2018 until joining the Company, Dr. Patel served as vice president, franchise head for lung, skin, tumor agnostic, and rare cancers at Genentech, Inc., and previously held various positions of …read full bio
VINCE HOLDING CORP (VNCE)  Mkt Cap: $40.6M
1-Yr TSR: -53.6%
CEO Jonathan Schwefel
3.0 yrs ; -25.8% TSR
David Stefko
(interim)
Mr. Stefko, age 67, who currently serves as a member of the Board, joined the Board in June 2023 and will continue to serve on the Board during this time. From September 2015 until February 2023, Mr. Stefko served as Executive Vice President, Chief Financial Officer of the Company and additionally, from August 2020 to March 2021, Mr. Stefko served as Interim Chief Executive Officer of the Company….read full bio

 

Recent Analysis

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