ADP

Activist Investor Ackman wants five ADP board seats

Activist Investor Ackman wants five ADP board seats

After acquiring an 8 per cent stake in Automatic Data Processing (ADP), billionaire investor William Ackman-led hedge fund is planning to ask for board seats at the U.S. human resources outsourcing firm.

The leader of Pershing Square Capital Management is seeking board seats at ADP as he is pushing the U.S. human resources outsourcing firm to slash costs and enhance its returns.

The 51-year-old activist investor told investors that he wanted five board seats, including one for himself, on ADP’s ten-member board.

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