SoftBank CEO Masayoshi Son Sees Shareholder Support Plunge For His Reappointment After Proxy Advisor's Recommendation: Report
Portfolio Pulse from Benzinga Neuro
SoftBank CEO Masayoshi Son has seen a significant drop in shareholder support for his reappointment, falling from 95.93% to 79.22% in a year, following a recommendation by proxy advisor ISS. The decline is attributed to SoftBank's average return on equity of less than 5% over the past five years. Activist investor Elliott Investment Management has also demanded a $15 billion share buyback. Despite these challenges, SoftBank's stock has surged nearly 50% this year, driven by the rally of Arm Holdings Plc.
June 25, 2024 | 12:21 pm
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NEUTRAL IMPACT
SoftBank CEO Masayoshi Son's reappointment support has dropped significantly following ISS's recommendation, citing poor return on equity. Activist investor Elliott Investment Management has demanded a $15 billion share buyback. Despite these issues, SoftBank's stock has surged nearly 50% this year.
The drop in shareholder support for Masayoshi Son's reappointment and the demand for a $15 billion share buyback by Elliott Investment Management are significant events. However, the stock's 50% surge this year due to Arm Holdings Plc's performance balances the negative sentiment, resulting in a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
SoftBank CEO Masayoshi Son's reappointment support has dropped significantly following ISS's recommendation, citing poor return on equity. Activist investor Elliott Investment Management has demanded a $15 billion share buyback. Despite these issues, SoftBank's stock has surged nearly 50% this year.
The drop in shareholder support for Masayoshi Son's reappointment and the demand for a $15 billion share buyback by Elliott Investment Management are significant events. However, the stock's 50% surge this year due to Arm Holdings Plc's performance balances the negative sentiment, resulting in a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100