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28 July 2020 • Articles

Activist Insight

Morrow Sodali creates new body to drive growth



Proxy solicitor Morrow Sodali has established a strategic advisory board made up of eight external members in a bid to help the company achieve its growth goals.

The newly established body includes Trevor Fetter, lead director at investment and insurance company The Hartford; David Heleniak, a former managing director at Morgan Stanley; Pamela Forbes Lieberman, a director at U.S. manufacturer and distributor of automotive parts Standard Motor Products; and corporate attorney Eileen Nugent of Skadden, Arps, Slate, Meagher & Flom.

Gordon Orr, former Asia chairman at consulting firm McKinsey; Katherine Rabin, the former chief executive at proxy adviser Glass Lewis; Maryann Waryjas, a former senior vice president at equipment rental supplier Herc; and Morrow Sodali Chairman Emeritus John Wilcox are also members of the strategic advisory board.

The eight will “work closely with Morrow Sodali’s executive leadership team, providing guidance and insights on issues of strategic importance” according to a Tuesday morning press release from the proxy solicitor.

Morrow Sodali earlier this year tapped Paul Schulman from rival MacKenzie Partners to co-head its own M&A and Activism division.

Morrow Sodali worked with Newell Brands during its 2018 fight with activist investor Starboard Value, which ended in the company appointing three new directors and the resignation of two representatives of Carl Icahn.

The proxy solicitor also aided dining chain Luby’s when it was targeted by Bandera Partners last year. The company won the fight with Bandera and saw all its nine directors re-elected but made some concessions shortly before the vote.

This article was originally published on Activist Insight Online. 

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