Thursday, 30 October 2014
Last updated 1 hour ago
Jun 12 2013 | 9:39am ET
The Clinton Group's proxy fight with Stillwater Mining may have ended in stalemate, but the hedge fund is winning the war.
Clinton's partner and one of its successful board candidates, former Montana Gov. Brian Schweitzer, was elected chairman. And now, CEO and former chairman Frank McAllister, who has been bitterly criticized by Clinton, has stepped down.
Clinton and Schweitzer had criticized McAllister for his focus on projects outside of Montana, including $500 million invested in Canada and Argentina. The two called for the abandonment of the Argentine project.
Stillwater shareholders elected Schweitzer and three other Clinton nominees last month. McAllister's retirement after 12 years at the helm leaves an evenly-split board of eight members.
The board has begun to seek a new CEO. Terrell Ackerman, vice president of corporate development, will lead the company in the interim.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.