Argo
-
The investor’s nominee Carol McFate will take the spot vacated by former CEO Mark Watson III. -
The meeting was moved up from a previous date in May after five directors stepped down.
-
The activist investor called on the carrier to elect shareholder-nominated directors.
-
The departures represent a significant win for the activist investor, which was seeking to force a special meeting to oust the directors.
-
It is unclear whether Argo’s board is so shameless as to be immune from public criticism, or so addicted to it that they are actively seeking it.
-
The former executive’s business travel has been restricted as part of the exit deal.
-
A proposal for a special meeting from activist fund Voce Capital requires the backing of at least 10 percent of Argo shareholders.
-
There is an old saying that you should never ask a barber if you need a haircut. The same goes for financial advisors who get paid on activity rather than success.
-
There is an old saying that you should never ask a barber if you need a haircut. The same goes for financial advisors who get paid on activity rather than success.
-
He will report directly to the company’s interim CEO Kevin Rehnberg, in a restructuring of the North American business.
-
The carrier was concerned about Voce’s influence over the appointment of new directors.
-
The insurer requires permission from Bermudian authorities to affirm the appointment.
Related
-
Argo snags Vantage exec Parella as new CCO
January 07, 2025 -
Argo shelves sale of Bermuda excess insurance business
June 13, 2024