Global Head of M&A Melissa Sawyer offered commentary to Agenda around the increase in special board committees and navigating activist investors. “A single activist nominee in a discussion on a committee of three or four directors is likely to have more influence than a single nominee in a full board discussion involving nine to twelve or more directors,” she said.
Melissa also addressed considerations for board committees. “Best practice is for the nom[inating] and gov[ernance] committee to play a significant role in the analysis and negotiation of all aspects of an activist settlement agreement.”
Read: “Seeking Influence, Activists Push for Board Committees”