Pamela Codo-Lotti
Showing 1–2 of 2 transcripts.
- Goldman Sachs17 min
What’s driving the surge in shareholder activism activity?
Avinash Mehrotra, Pamela Codo-Lotti, Alison Nathan, Avi Mehrotra, Pam Kodoloti
By March 2023, activist investor campaigns reached pre-pandemic intensity with a record $13.13 billion raised by Elliot Management, driving a surge in pressure on one in four S&P 500 companies and expanding into large-cap targets in Japan and Europe. Activists are shifting strategies from inorganic growth to operational efficiency and capital returns, utilizing new universal proxy rules and increased capital availability to target defensive corporations in tech, healthcare, and industrials. As multiple investors increasingly "swarm" single firms, companies are responding by adopting proactive, data-driven governance reviews to preemptively address vulnerabilities in board composition and capital allocation.
- Goldman Sachs11 min
Shareholder Activism in Uncertain Times
Following a 60% decline in activist campaigns during early 2020 driven by pandemic volatility and shifting investor priorities, activity has since recovered to previous levels through private dialogue and targeted engagement. Activists now focus on underperforming companies with governance weaknesses or inefficient capital allocation, while companies have increasingly adopted defensive measures like poison pills and proactive ESG integration to mitigate risk. As the market stabilizes, the landscape is shifting toward demands for M&A, board representation, and the use of ESG gaps as strategic leverage to force operational changes.