NACD - National Association of Corporate Directors

Commentary: 3 Lessons From Bill Ackman’s Failed ADP Proxy Fight

While Automatic Data Processing (ADP) was victorious in the proxy fight against activist investor William Ackman, who sought seats on the board, the drama highlights the sheer amount of energy and critical resources wasted on activity that doesn’t drive shareholder value. Proxy fights such as this one cost millions of dollars, as well as management’s time and attention.

To read the full article, visit Fortune.