Read Full Article
Billionaire urges activist investors to hold executives to account because 'too many companies are terribly run'...
True corporate democracy does not exist in America and as a result many unfit chief executives are not held accountable. Poison pills and other board tricks disenfranchise stockholders. As a result entrenched chief executives and boards of directors may be protected even if they are ineffective.
I believe that the kind of shareholder activism that Icahn Enterprises practices has been extremely successful because we seek to bring true corporate democracy to the companies we are involved with through exercising our rights as shareholders to hold chief executives accountable and change unproductive management that needs to be changed.