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.

News: 
Location: 
Company: 

Popular Stories

Harley-Davidson to turn 8 Dyna motorbikes into new Softail bikes

Betting big on cruisers, the luxury motorcycle... Read More

Uber’s net loss declines as ride bookings grow

Uber Technologies reported lower loss by nearly 9... Read More

Samsung Galaxy Note 8 facing challenges on multiple fronts

The Samsung Galaxy Note 8 is facing an increasingly... Read More

Leaked reports reveal more about new BMW M5

Luxury carmaker BMW’s next-generation M5 car will... Read More