FILE PHOTO: An employee assembles a Hyundai car in Hyundai Marathon Motor assembly plant on the outskirt of Addis Ababa, Ethiopia February 21, 2019. REUTERS/Tiksa Negeri
SEOUL (Reuters) - South Korea’s leading proxy adviser KCGS recommended shareholders vote against U.S. activist investor Elliott Management’s proposals for dividends and board members at Hyundai Mobis, according to its report.
KCGS said it believed that Elliott seems to focus on enhancing short-term value of the autoparts maker rather than addressing its future challenges.
Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman
Our Standards:The Thomson Reuters Trust Principles.Related reporting
More Business News →
High Court Blocks Oigara Bank Fraud Probe as Stanbic CEO Escapes Questioning
15 Proven Ways to Make Money Online in Kenya; No Scams!
High Court Halts Equity Bank's Takeover Bid on Swafi Foods in Landmark Ruling
