Thursday, 25 December 2014
Last updated 1 day ago
Aug 15 2012 | 10:07am ET
Activist hedge fund manager Nelson Peltz has joined the board of directors at Ingersoll Rand as the company moved to avoid a proxy fight.
Peltz's Trian Fund Management owns a 7% stake in the air conditioning and security systems maker, which it says should be restructured or broken up. It has also pushed to boost its operating margins and called for Ingersoll to take on debt to improve shareholder value.
Trian said it is evaluating those proposals and others, but that having Peltz on the board will not accelerate the process.
Peltz refused an offer to join the board in July, citing Ingersoll's plan to prevent him from calling an extraordinary general meeting. Ingersoll has dropped that restriction. Peltz will serve on Ingersoll's corporate governance and nominating and finance committees.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.