The Evolving Landscape of Shareholder Activism

Corporate partner Doug Raymond and associate Jennifer Lucas co-authored an article for Directors & Boards on the shifting shareholder activism due to changing goals, new players and advanced tools that are reshaping activist strategies and board responses.

The authors discuss an increase of activist campaigns in 2024 (243) reported globally — up from approximately 185 in 2021 — almost 20% of which were brought by first-time players. A shifting mindset also has activists increasingly looking to influence the board’s strategic decisions and drive operational efficiencies.

In the article, Raymond and Lucas note that there has been a change in the resources accessible to activist investors and the dynamics surrounding them. This includes increased use of social media and generative AI to amplify their messaging.