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Investor Ackman backs bid by dissidents for Harvard board seats  - Stock Market Latest

Government

Reuters exclusively reported that Billionaire hedge fund manager William Ackman, who joined other Harvard graduates in successfully calling for the university’s president Claudine Gay to resign, is pressing forward with his efforts to reshape the Ivy League school’s governance by backing a bid by four dissident alumni to join its board of overseers. 

Market Impact

In a position paper reviewed by Reuters, the four candidates said they want the university to protect free speech, protect students from bullying and harassment, and address financial mismanagement, including at the school’s $50.7 billion endowment. The endowment’s investments delivered returns of 2.9% in fiscal 2023, deeply underperforming the broader market’s nearly 20% gain.

Article Tags

Topics of Interest: Government

Type: Reuters Best

Sectors: Government & Public Services

Regions: Americas

Countries: United States

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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