A hedge fund administered by Paul E. Singer, Elliott Management owned 4.5% of Hess Corporation stock on the 29th January 2013, and it put ahead a slate of five independent managers it desired elected to improve the firm's operation.
Elliott claimed that enterprises outside its core exploration and production company lacked focus and diverted Hess. Further it argued that John Hess, CEO and son of the founder, of being more interested in "maintaining a family dynasty than instilling accountability and addressing long-term underperformance."
PUBLICATION DATE: June 02, 2013 PRODUCT #: 413126-HCB-ENG
This is just an excerpt. This case is about ORGANIZATIONAL DEVELOPMENT
Related Case Solutions & Analyses:
British Motorcycle Industry at a Crossroads
Credit Suisse Group
eBay Inc.: Stock Option Plans (B)
Brent Spar Platform Controversy (B)
Forging the International Partnership Video (DVD)
SKF Bearings Series: Market Orientation Through Services (C): Results and the Upswing
Yoshiko Shinohara and Tempstaff
Final Project Action Learning
James Bowman and Coopertree Capital in China
Closing the Capability Gap: Strategic Planning for the Infrastructure Sector
