It’s been hard not to notice the rise in activist investing over the last few years. And although it’s tough to say whether the Nelson Peltzes and Carl Icahns of the world have a net positive effect on the companies they target, boards are certainly paying more attention to them. An annual survey of corporate directors from PricewaterhouseCoopers tracks a number of important boardroom trends, including how directors are handling such growing activism.
The survey, “Governing for the Long Term: Looking Down the Road with an Eye on the Rear-View Mirror,” includes data drawn from more than 750 public company directors across a range of industries and revenue levels. It shows that boards are trying to balance the short-term thinking often associated with activist takeovers with the long-term thinking necessary to ensure good company performance many years down the line. “While there are certainly short-term pressures at play, I think board members have responded by saying they’re trying to think of their role in the longer term,” says Paul DeNicola, managing director at PwC’s Center for Board Governance.
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