FirstGroup CEO Steps Down On Coast Capital’s Demand
What’s New In ActivismFirstGroup PLC (LON:FGP) CEO Matthew Gregory stepped down from the top role, a day after Coast Capital had called for his head. The move came shortly after the U.K. transport operator closed a 3.3-billion-pound sale of two bus businesses that the activist had opposed. Q2 2021 hedge fund letters, conferences and more Coast had asked for a better price and a 600-million-pound shareholder payout. In an apparent maneuver to mollify disgruntled investors, FirstGroup recently promised to return 500 million pounds to shareholders, 135 million pounds more than initially planned. ...