Director Wants Separate Chairman, CEO at Agco -- Market Talk

Dow Jones

2024-11-26

1227 ET - Disgruntled Agco director Mallika Srinivasan is proposing shareholders separate the board chairman and chief executive's positions, opening a new front in a dispute with Chairman and CEO Eric Hansotia. Srinivasan's company, Tractors and Farm Equipment, or TAFE, is offering the proposal for shareholders to vote on at next year's annual meeting. Srinivasan is an Agco director and chairperson of TAFE, Agco's largest shareholder at about 16%. TAFE manufactured and distributed Massey Ferguson-brand tractors for Agco in India, Turkey and the Middle East for decades, but Agco canceled its contract with TAFE earlier this year. Srinivasan has been highly critical of Hansotia's management of the company and has lobbied for the chairman's job in the past. Shares up 5% at 103.38. (robert.tita@wsj.com)

(END) Dow Jones Newswires

November 25, 2024 12:27 ET (17:27 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Srinivasan's company, Tractors and Farm Equipment, or TAFE, is offering the proposal for shareholders to vote on at next year's annual meeting. Srinivasan is an Agco director and chairperson of TAFE, Agco's largest shareholder at about 16%. TAFE manufactured and distributed Massey Ferguson-brand tractors for Agco in India, Turkey and the Middle East for decades, but Agco canceled its contract with TAFE earlier this year. Srinivasan has been highly critical of Hansotia's management of the company and has lobbied for the chairman's job in the past. Shares up 5% at 103.38. 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Srinivasan's company, Tractors and Farm Equipment, or TAFE, is offering the proposal for shareholders to vote on at next year's annual meeting. Srinivasan is an Agco director and chairperson of TAFE, Agco's largest shareholder at about 16%. TAFE manufactured and distributed Massey Ferguson-brand tractors for Agco in India, Turkey and the Middle East for decades, but Agco canceled its contract with TAFE earlier this year. Srinivasan has been highly critical of Hansotia's management of the company and has lobbied for the chairman's job in the past. Shares up 5% at 103.38. (robert.tita@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 25, 2024 12:27 ET (17:27 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1989763427.SGD","symbol_name":"CPR Invest - Food For Generations A2 Acc SGD-H","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2486497030","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486497030","pubTimestamp":1732555620,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1227 ET - Disgruntled Agco director Mallika Srinivasan is proposing shareholders separate the board chairman and chief executive's positions, opening a new front in a dispute with Chairman and CEO Eric Hansotia. Srinivasan's company, Tractors and Farm Equipment, or TAFE, is offering the proposal for shareholders to vote on at next year's annual meeting. Srinivasan is an Agco director and chairperson of TAFE, Agco's largest shareholder at about 16%. TAFE manufactured and distributed Massey Ferguson-brand tractors for Agco in India, Turkey and the Middle East for decades, but Agco canceled its contract with TAFE earlier this year. Srinivasan has been highly critical of Hansotia's management of the company and has lobbied for the chairman's job in the past. Shares up 5% at 103.38. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1989763427.SGD":"CPR Invest - Food For Generations A2 Acc SGD-H","LU1989763690.USD":"东方汇理世代食品基金A2 Acc","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0471298777.SGD":"Blackrock Nutrition A2 SGD-H","BK4152":"农用农业机械","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU2211817866.USD":"Allianz Food Security AT Acc USD","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","AGCO":"爱科集团","LU0385154629.USD":"贝莱德营养科学基金A2","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC"},"translate_title":"董事希望Agco董事长和首席执行官分开——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGCO":0.9},"content_text":"1227 ET - Disgruntled Agco director Mallika Srinivasan is proposing shareholders separate the board chairman and chief executive's positions, opening a new front in a dispute with Chairman and CEO Eric Hansotia. Srinivasan's company, Tractors and Farm Equipment, or TAFE, is offering the proposal for shareholders to vote on at next year's annual meeting. Srinivasan is an Agco director and chairperson of TAFE, Agco's largest shareholder at about 16%. TAFE manufactured and distributed Massey Ferguson-brand tractors for Agco in India, Turkey and the Middle East for decades, but Agco canceled its contract with TAFE earlier this year. Srinivasan has been highly critical of Hansotia's management of the company and has lobbied for the chairman's job in the past. Shares up 5% at 103.38. (robert.tita@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  November 25, 2024 12:27 ET (17:27 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}