The P&G Board: Too Much of a Good Thing?

July 20, 2012 at 8:17 pm

Agilityexecutivesearch's Blog

Several conditions make a company attractive to an activist investor. Per the Milken Institute, these include an undervalued business, poor share price performance, failure to meet communicated goals and the company being a conglomerate or mini-conglomerate.

Bill Ackman’s Pershing Square Capital Management recently announced a $2 billion investment for a 1% stake in Proctor & Gamble (P&G).  P&G, with 2011 sales of $82.5 billion represents a significant target for Pershing Square and is in fact the firm’s largest investment ever. It will be interesting to watch these powerful forces collide.

At the center of much of the criticism of P&G is CEO Robert MacDonald who took the helm of the company in 2009 after a well-planned and executed succession planning process. In fact, P&G is an oft-cited case for succession planning best practices. They have a succession planning program that has been consistently studied and replicated. As a big believer…

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The P&G Board: Too Much of a Good Thing? Twitter for the Uninitiated


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