M&A partner Lauren Boehmke commented in an article in Agenda on recent activist campaigns that have targeted CEO performance. The article notes that targeting the CEO has become a more popular strategy for activists and that boards should prepare for these situations by getting a head start on defense, as well as succession planning.
In terms of succession planning, boards need to prepare for any last-minute, unexpected departures, Lauren said. “What you have to account for is that there are circumstances, which could include a bloody activism campaign or could include conduct impropriety or a number of things that might lead to succession on a shorter time frame than boards might otherwise anticipate.”
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