Law360 Quotes Lori Marks-Esterman on Shareholder Activism in 2025 at Tulane University Law School’s 37th Annual Corporate Law Institute

Olshan Chair of Litigation Lori Marks-Esterman was quoted in a Law360 article (subscription required) on Tulane University Law School’s 37th Annual Corporate Law Institute, which took place from March 6-7 in New Orleans. Much of the panelists’ discussion concerned the trend of activist campaigns that target CEOs: 27 such campaigns led to CEO resignations in 2024, an all-time high. While Lori criticized personal attacks about the individual or their families, she noted that targeting CEOs has become a logical strategy and is a fair tactic when focused on job and company performance. “All roads lead back to the CEO,” Lori explained. “If operations are poor, if the company isn't doing well, that ultimately all lands on the CEO.” Lori dismissed the portrayal of activists being short-term focused and opportunistic as an outdated “trope that is not accurate” and “a fallacy,” saying, “We have some of the largest activists in the country, if not in the world, who have been in companies for a long time and decide when it’s time to be active and target a CEO.” On how activism has evolved beyond the conventional proxy season cycle, Lori pointed out that this expanded timeline offers activists tactical advantages for striking deals in the “off season,” rather than “it being all about the race to the annual meeting.”