Eminence Calls for GPK Shareholders to Reinstate Mike Doss
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Yahoo Finance
- Shareholder Demand: Eminence Capital, owning approximately 4.2% of GPK, has sent an open letter urging shareholders to reinstate Mike Doss as CEO, asserting that the Board's decision lacks transparency and could negatively impact the company's future.
- Stock Price Decline: GPK's stock has fallen nearly 50% over the past year, with Eminence arguing that this decline is primarily due to industry oversupply rather than mismanagement by Doss, highlighting the Board's inadequate understanding of industry dynamics.
- Leadership Concerns: Eminence criticizes new CEO Robbert Rietbroek's track record, claiming he failed to achieve growth during his tenure at Quaker Foods, which raises questions about the Board's decision-making process.
- Investor Confidence: Eminence notes that many shareholders and former employees oppose Doss's replacement, believing this decision will severely impact GPK's long-term prospects, and calls for shareholders to take action to protect their interests.
GPK
$15.32+Infinity%1D
Analyst Views on GPK
Wall Street analysts forecast GPK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GPK is 20.25 USD with a low forecast of 20.00 USD and a high forecast of 21.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
0 Buy
7 Hold
0 Sell
Hold
Current: 15.430
Low
20.00
Averages
20.25
High
21.00
Current: 15.430
Low
20.00
Averages
20.25
High
21.00
About GPK
Graphic Packaging Holding Company is a consumer packaging provider. It produces consumer goods packaging made from renewable or recycled materials. It designs and manufactures packaging solutions including cartons, multipack cartons, trays, carriers, paperboard canisters, cups and bowls made from unbleached paperboard, recycled paperboard, and bleached paperboard. Its segments include Americas Paperboard Packaging and International Paperboard Packaging. The Americas Paperboard Packaging segment includes paperboard packaging sold primarily to consumer-packaged goods (CPG) companies serving the food, beverage, and consumer product markets and cups, lids and food containers sold primarily to foodservice companies and quick-service restaurants (QSR) in the Americas. The International Paperboard Packaging segment includes paperboard packaging sold primarily to CPG companies serving the food, beverage and consumer product markets, including healthcare and beauty, outside the Americas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
