Author Archives for Kimberly Simpson

The Board’s Role in Betting the Market Cap

Published by

Take a moment to place yourself in this board’s shoes. The company has… An enviable revenue stream, with approximately $120 million in sales per day and an average sales order of $2,000; A strong balance sheet with very little debt; A need to react to seismic shifts in customer needs; An overweight of assets in Europe while sizable growth for your industry has been predicted in Asia; and A market cap of roughly $2.6 billion. What would your board do? Would your board be comfortable acquiring a division of a competitor for $2.4 billion in cash and 2.785 million shares... Read More


Lessons Learned from a Godfather Offer

Published by

Is your board ready if the company receives a so-called godfather offer—an offer so strong it cannot be ignored—to purchase the company? Could social conflicts within the company be the undoing of an M&A deal that would benefit shareholders? Panelists at a recent NACD Carolinas Chapter program shared insights on board readiness, lessons learned, and the current state of the M&A market. The Godfather Offer at Piedmont Natural Gas According to Tom Skains, former chair and CEO of Piedmont Natural Gas Company, and director of Duke Energy Corp., directors should remember two critical points about the possibility for M&A activity... Read More


A Well-Tailored Story of Shareholder Activism

Published by

Chico’s FAS, parent company of the Chico’s, White House Black Market, and Soma brands, made headlines in 2016 when an activist investor dropped its bid for board seats at the company. Chico’s FAS was one of the largest U.S. companies targeted in a 2016 proxy contest. The company’s victory was credited to a number of factors, including the new CEO’s clear vision and the board’s preemptive work on governance. NACD’s Florida Chapter recently convened a program at the Chico’s FAS headquarters in Fort Myers, hearing insights from NACD Florida Chapter Board member and Chico’s FAS Chair David Walker; Jan Fields, chair... Read More