Government
09 January 2024, 6:16 pm 1 minute
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