Having failed to reshape Target Corp. from the outside, activist investor and hedge fund manager William Ackman intends to take a shot from within and nominate five new directors, himself included, to the retailer’s board.
Ackman, who heads Pershing Square Capital Management and has taken severe losses on his Target investment so far, said the board needs expertise in the retail, credit card and real estate areas. Last month, Ackman apologized for the performance of his Pershing Square fund that focuses on Target and gave investors an opportunity to pull their money out or add more capital. Showing his faith in the venture, Ackman added $25 million of his own money to the fund. Target’s stock has lost 57.1 percent of its value since Ackman’s initial investment was made public in July 2007. Shares of the firm slipped 3.8 percent Monday to $28.83.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)