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☆ Unilever's new CEO will inherit a company in flux
▼ + stars: | 2023-02-05 | by ( Alex Bitter | Ellen Thomas | ) www.businessinsider.com time to read: +9 min

Two of the five divisions remain focused on food products, an area that CEO Jope said Unilever considered spinning off. Food brands like Ben & Jerry's and Hellmann's would have become a separate company. Unilever's decision last year to spin off its tea business into a new company, Ekaterra, left many workers inside Unilever's food division nervous, the former employee said. One former Unilever executive pointed to Fernando Fernandez, who will assume the top job at the company's new beauty and wellbeing division. Fernandez has been Unilever's executive vice president for Latin America since 2019 and held other jobs with the company in the region before that.

Add to that mix the classic 60/40 portfolio model — a standard investing benchmark — that helps investors achieve that last point. Below, CNBC Select spoke to two financial professionals about how novices can put a 60/40 portfolio strategy in action. Once you're ready to invest, here are four simple ways to start putting money into a 60/40 portfolio. Vanguard Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected. Wealthfront Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected.

☆ Activist Investor Nelson Peltz Steps Up Pressure on Disney Board
▼ + stars: | 2023-02-02 | by ( Robbie Whelan | Theo Francis | ) www.wsj.com time to read: +1 min

Activist investor Nelson Peltz escalated his criticism of the Walt Disney Co.’s board and advocated for the removal of director Michael B.G. Froman , blaming him for backing governance and compensation decisions that Mr. Peltz says have harmed the company. Disney said Thursday that it didn’t support Mr. Peltz or his son, Matthew, named as an alternate nominee for Mr. Peltz, joining its board. “Neither Mr. Peltz nor his son offer skills or experience additive to the Disney board that replace the decadeslong experience of Mr. Froman,” Disney said. Mr. Froman didn’t respond to a request for comment.

☆ Jupiter declines to comment on cancelled Adani share offering
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 2 (Reuters) - Jupiter Fund Management (JUP.L), an anchor investor in Adani Enterprises' (ADEL.NS) cancelled $2.5 billion share offering, told Reuters on Thursday it had no immediate comment on the deal being withdrawn. Jupiter was notable as being the sole UK-listed fund manager to back the share offering for the subsidiary of embattled Indian conglomerate Adani Group, which has lost some $100 billion in market capitalisation in recent days following a short seller's report. Adani Enterprises its $2.5 billion stock offering on Wednesday. Reporting by Lawrence White; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

☆ A major Alphabet investor said the company should cut even more jobs and address 'excessive' pay in the wake of mass layoffs
▼ + stars: | 2023-01-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Alphabet investor TCI is urging the company to "go further" in cutting jobs and reducing spend. A letter from TCI to CEO Sundar Pichai said "excessive employee compensation" should be addressed. The Children's Investment Fund Management wrote a letter to Alphabet and Google CEO Sundar Pichai on January 20 — the day Google announced mass layoffs affecting roughly 6% of its workforce — asking him to address "excessive employee compensation." The November letter, also signed by Hohn, said its shares in the company were worth more than $6 billion. Representatives for Alphabet and TCI Fund Management did not respond to Insider's request for comment.

☆ Top hedge funds earned sharply less for clients in 2022, LCH data shows
▼ + stars: | 2023-01-23 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Jan 23 (Reuters) - The 20 best performing hedge fund managers earned $22.4 billion for investors in 2022, marking their slimmest gains since 2016 as many firms, including Tiger Global Management, struggled with slumping financial markets, LCH Investments data show. The top 20 managers, led by Ken Griffin's Citadel, Bridgewater Associates and D.E. Overall, hedge funds lost $208 billion in 2022 for clients, marking the biggest single-year decline since 2008, when they lost $565 billion, LCH data showed. Hedge funds, which were jointly managing $3.3 trillion on Dec. 31, 2022, according to eVestment data, often promise to outperform, especially when markets are stumbling. Shaw, Millennium Management, Soros Fund Management, Elliott Management, and Viking Global Investors also ranked in the top 10.

☆ Clash of the titans: Billionaire activist investors are putting pressure on top CEOs who were once thought untouchable
▼ + stars: | 2023-01-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The bear market in stocks last year has opened up a new window for aggressive activist investors. Once high-flying tech stocks and beloved brand names are subject to unfamiliar pressure from billionaire activists. Marc Benioff of Salesforce and Bob Iger of Disney are the latest high-profile CEOs to face pressure. Nelson Peltz of the Trian Fund and Paul Singer of Elliott Management recently launched activist investor campaigns against Disney and Salesforce, respectively. Activist campaigns targeting firms of this size and caliber are uncommon, but their struggling share price has painted a target on management's back.

☆ In a town hall meeting, Googlers demanded to know if activist hedge fund TCI was behind mass layoffs this month
▼ + stars: | 2023-01-23 | by ( Thomas Maxwell | Rosalie Chan | ) www.businessinsider.com time to read: +3 min

Google's parent company Alphabet announced layoffs of 12,000 employees last week. TCI Fund Management previously called for Alphabet to trim headcount following "excessive" growth. Pressure from investors did not drive the decision for last week's announced layoffs of 12,000 employees, Alphabet CEO Sundar Pichai and CFO Ruth Porat said in an all-hands meeting on Monday. Pichai responded by saying that Alphabet communicates with investors throughout the year and has done so consistently over time. While the company may deny that a hedge fund drives its decision-making, Alphabet nonetheless appears to be fulfilling many of TCI's requests with the layoffs.

☆ JPMorgan, Standard Chartered win approval to expand in China
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Jan 19 (Reuters) - JPMorgan (JPM.N) and Standard Chartered won Chinese regulatory approval on Thursday to expand operations in China, as Beijing encourages expansion by foreign companies after lifting its restrictive COVID policies. British bank Standard Chartered (STAN.L) won an approval to set up a new securities brokerage unit in China also on Thursday, the regulator said. Canada's Manulife Financial Corp (MFC.TO) in November received regulatory approval to take full control of its Chinese mutual fund venture. U.S. asset manager Neuberger Berman in the same month won approval to set up a new fund unit in China. "China is certainly going to be bit of a long slog," Alexander said, referring to China's lengthy approval process for foreign companies.

☆ Breakingviews: Disney investors pay twice for half-leadership
▼ + stars: | 2023-01-18 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 18 (Reuters Breakingviews) - Walt Disney’s (DIS.N) poor succession planning is costing its shareholders twice over. That takes Disney to $60 million in total pay for the duo. Warner Bros Discovery (WBD.O), a fraction of Disney’s size, awarded its boss David Zaslav a $247 million compensation package in 2021. For the 2023 fiscal year, his target compensation package in 2023 is approximately $28 million. Activist investor Nelson Peltz, through his company Trian Fund Management, has challenged Disney by seeking a seat on the board.

☆ Disney investors pay twice for half-leadership
▼ + stars: | 2023-01-18 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 18 (Reuters Breakingviews) - Walt Disney’s (DIS.N) poor succession planning is costing its shareholders twice over. That takes Disney to $60 million in total pay for the duo. Warner Bros Discovery (WBD.O), a fraction of Disney’s size, awarded its boss David Zaslav a $247 million compensation package in 2021. For the 2023 fiscal year, his target compensation package in 2023 is approximately $28 million. Disney urged shareholders to vote for its slate of directors at the company’s upcoming annual meeting.

☆ Activist investing cries out for some pushback
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

The number of aggressive investing campaigns led by firms such as Paul Singer’s Elliott Management and Nelson Peltz’s Trian Fund Management swelled last year, including from a record arrival of rookie practitioners. It represents a 36% increase from 2021 and the busiest year since 2018, when there were 249. There were also 55 first-time activists last year, who initiated more than a third of the campaigns. If the result is no better than a coin flip, it gives shareholders and boards fresh reason to question an activist’s arrival. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Disney says Peltz 'lacks skills' to help business as proxy battle heats up
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

"Peltz does not understand Disney's businesses and lacks the skills and experience to assist the board in delivering shareholder value in a rapidly shifting media ecosystem," Disney said. Peltz told CNBC on Thursday that Disney should either jettison the streaming business or buy the rest of rival streaming service Hulu. Disney also needs to boost capital expenditure at its parks business, where it probably raised ticket prices "too hard," he said then. In its statement on Tuesday, Disney said it was already working to improve profitability at the Disney+ streaming business that Iger helped launch in 2019 and was rolling out broader cost-cutting measures. Unless Peltz settles with Disney, investors will vote this year on whether he should sit on the company's board.

☆ Disney rips Peltz over board fight, defends Iger's acquisitions
▼ + stars: | 2023-01-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Disney ripped Nelson Peltz and his bid for a board seat Tuesday, as the entertainment giant's proxy fight with the investor and his activist firm, Trian Fund Management, takes shape. Disney said in a securities filing Tuesday that its board was where it needed to be to move the company forward. Last week, Peltz laid out his case for a proxy fight with Disney on CNBC's "Squawk on the Street" after Trian filed a preliminary proxy statement looking for a seat on the board. Peltz raised issues with how shareholder value has eroded recently and Disney's $71 billion acquisition of Fox in 2019. The company said it had offered Peltz an information-sharing agreement, meaning he would have met quarterly with both management and the board, rather than a board observer role, as Peltz had said.

☆ 11 podcasts that busy venture capitalists and founders say they trust right now
▼ + stars: | 2023-01-15 | by ( Robin Madell | ) www.businessinsider.com time to read: +11 min

Investors at JetBlue Ventures, Mighty Capital, and other VC firms shared their favorite podcasts. Another recommendation is "Origins" by partners at the biotech VC firm Notation Capital. Here are 11 great options, recommended by VCs, founders, CEOs, and other industry insiders. "The main thing about the VC world is building relationships, and Harry is an example of a great networker," Gershfeld said. "BTC is the single-most important asset in the world, and that podcast gets to the heart of why that is."

☆ A battle between Disney and activist Peltz brews. Here’s how the situation may unfold
▼ + stars: | 2023-01-14 | by ( Kenneth Squire | ) www.cnbc.com time to read: +4 min

Disney offered Peltz, founding partner of Trian Fund Management, a role as a board observer and asked him to sign a standstill agreement, which Peltz declined. Offer of a board observer positionSometimes a board observer position can be beneficial, particularly for investors who do not have a lot of board experience and are less likely to be a regular contributor to board discussions. But offering Peltz a position as a board observer is like saying to Whitney Houston, "You can join the band, but you are not allowed to sing." It is curious as to why Peltz started this proxy fight in the first place and why Disney is resisting it. Peltz acquired his position when Bob Chapek was CEO and likely had a plan to replace him with someone Peltz had already identified.

☆ Wendy’s to Revamp Operations as Consumers Tighten Spending
▼ + stars: | 2023-01-13 | by ( Heather Haddon | Dean Seal | ) www.wsj.com time to read: 1 min

Wendy’s Co. said Friday that two executives were departing the burger chain amid a broader organizational overhaul that could include staff reductions and new investments. Trian Fund Management LP, Wendy’s largest shareholder, also said Friday that it was putting on hold its push for potential strategic alternatives for the company. The activist hedge-fund firm said in May that it intended to explore a potential transaction involving Wendy’s, either alone or with third parties, that could include an acquisition, merger or other deal.

☆ Wendy’s Will Undergo Organizational Redesign
▼ + stars: | 2023-01-13 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Wendy’s has doubled its dividend and increased its stock-buyback program. Wendy’s Co. announced on Friday the departures of two executives and changes to its leadership structure aimed at cutting administrative costs. Wendy’s also doubled its dividend and increased its stock-buyback program. Nelson Peltz , who leads Trian Fund Management LP, the restaurant chain’s largest shareholder, said Friday that the new capital-allocation strategy would support the company’s long-term growth plans.

☆ Activist Investor Nelson Peltz to Disney’s New Board Chair: No Thanks
▼ + stars: | 2023-01-13 | by ( Robbie Whelan | Lauren Thomas | ) www.wsj.com time to read: 1 min

Activist investor Nelson Peltz doesn’t think the Walt Disney Co.’s board leadership change will shift the direction of the company, saying the new chairman is little more than a rubber stamp for newly returned CEO Bob Iger , according to people familiar with the matter. On Thursday, Mr. Peltz and his hedge fund Trian Fund Management LP turned up the heat in their proxy battle, despite board changes the Walt Disney Co. made Wednesday in an effort to counter his push. Disney on Wednesday replaced its board chair Susan Arnold with Nike Inc. chairman Mark Parker , and assured investors that he would lead the search for the company’s next chief executive.

☆ Jim Cramer gives his take on BlackRock, Disney and shareholder democracy
▼ + stars: | 2023-01-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer gives his take on BlackRock, Disney and shareholder democracyCramer offered his thoughts on BlackRock and what could be its role in Disney's proxy fight against Trian Fund Management.

☆ Activist investor Nelson Peltz's Trian won't pursue Wendy's takeover
▼ + stars: | 2023-01-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Nelson Peltz isn't interested in acquiring Wendy's , according to a regulatory filing made on Friday. Peltz serves as non-executive chair on the burger chain's board and as chief executive of activist firm Trian Fund Management, which is its largest shareholder. In May, Trian said it was exploring a potential deal with the company to "enhance shareholder value" that could include an acquisition or merger. Trian, which was founded by Peltz, first invested in Wendy's in 2005, when the fund was initially created. Rival McDonald's announced a week ago that it is also revamping its corporate structure for similar reasons.

☆ The Davos elite likes to make bold predictions. But they don't always get them right
▼ + stars: | 2023-01-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

George Soros, billionaire and founder of Soros Fund Management, at the World Economic Forum in Davos, Switzerland, in Jan. 2016. It's an annual meeting where a global elite of business leaders, politicians and economists make bold predictions and try to set the agenda for the year ahead — but they don't always get it right. Nuclear warBillionaire investor George Soros warned during a speech at Davos in 2018 that the United States could be heading for a nuclear war with North Korea. "The United States is set on a course towards nuclear war by refusing to accept that [North] Korea has become a nuclear power," he said at the time. So far, the United States has avoided any military conflict with North Korea.

The tussle with Disney could be Peltz's biggest proxy battle since an acrimonious fight to bag a seat on the board of Tide detergent-maker P&G (PG.N). During his more than three-year tenure on P&G's board, the firm's stock price rose nearly 80%. Peltz's Trian Fund Management on Thursday filed documents with the U.S. securities regulator for his election as a director after Disney denied him a board seat. "Iger is a well-liked CEO, not only within Disney and its employees but also in Hollywood and the stock market. Investors will vote later this year on whether Peltz should sit on the company's board, unless it's settled before.

☆ Activist investor Peltz kicks off battle for Disney board seat
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Nelson Peltz founding partner of Trian Fund Management LP. The prominent activist investor's Trian Fund Management on Thursday filed documents with the U.S. securities regulator for his election as a director at Disney after the company denied him a board seat. "Peltz -- with a change-maker history at targets including P&G, Heinz, and Wendy's -- could provide a measure of that." Trian Fund Management owns roughly $900 million worth of Disney stock, which equates to about 0.5% stake, under the disclosure threshold of 5%. Sources familiar with Disney have said he has only leveled criticisms without offering possible solutions.

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