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Evelyn Y. Davis and Proxy SeasonFollies

By encinoman

If it&;s spring, the proxy-season circus is in town.  At this time of year, public relations and IR (Investor Relations) pros prepare for their corporation&;s annual shareholder meetings.  Shockingly enough, these meetings are often stage-managed to cheerlead for the CEO and avoid controversy.  But even when IR folks try to keep things under control, often the meetings turn into bizarre theatre.  At a Ford shareholder meeting in Irvine, California, I watched noted shareholder &;gadfly&; Evelyn Y. Davis fawn over then-CEO Bill Ford with an unsettling mix of maternal concern and lust.  Later, he personally delivered her new Jaguar.

Whether it&;s Citibank or among the restive shareholders of the New York Times, Evelyn is on the case.  I&;ve written about her, and she always has a lot to say: When Safeway&;s general counsel implored &;Miss Davis&; to be quiet, &;It&;s Mrs. Davis,&; she insisted.  I&;ve had three husbands.&; At Morgan Stanley, Davis threatened, &;When I&;m gone, my ghost will appear at the meeting.&;  Replied Chairman Philip Purcell, &;We look forward to your ghost.&; Purcell and Ford show the right way for CEOs to respond to gadflys like Evelyn; listen patiently, act when their suggestions are appropriate and reasonable, keep your sense of humor.  It&;s easy to snicker at the gadflies.   But often dissident stockholders have a point.  Unchallenged, bad corporate leadership can damage even the strongest company&;like this software architect whose biggest innovation appears to be creating the 35-day month and 100-day quarter for booking revenue and making numbers.

This entry was posted on April 26, 2007 at 7:19 pm and is filed under Evelyn Y. Davis, evelyn-davis, Ford, Investor Relations, Journalism, morgan-stanley, Public Relations, Shareholder Revolt.

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3 Responses to &;Evelyn Y. Davis and Proxy SeasonFollies&;

A Minor Milestone « Monday Morning Media Quarterback Says:

May 9, 2007 at 7:45 pm | Reply

[...] Hilton was hot, but just behind her was 70+  (she hates talking about her age) Evelyn Y. Davis, continuing her quixotic crusade for better corporate [...]

Ringmaster Richard Parsons Tames Time Warner Crowd « Monday Morning Media Quarterback Says:

May 22, 2007 at 4:22 pm | Reply

[...] says he’s a big fan of Happy Feet.  He also has a good sense of humor, staying calm while noted corporate gadfly John Chevvedden talked about Parson&;s high ($22 million) compensation.  When another [...]

The Autoresponder Code Says:

May 30, 2010 at 2:06 pm | Reply

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