Bill Ackman on His Fight for ADP Board Seats

Bill Ackman discusses his strategy to gain seats on ADP's board, aiming to improve the company's margins and competitiveness. He highlights ADP's challenges, including losing market share to innovative competitors. Ackman emphasizes the need for board changes to drive operational efficiency and shareholder value. Despite a proxy contest, he remains focused on enhancing ADP's performance. The discussion also touches on other investments and Ackman's approach to shareholder engagement.

What are the main allegations made by Ackman against ADP?

What is Ackman's strategy for increasing ADP's margins?

How many board members does Ackman seek to elect?

What changes does Ackman propose for ADP's board?

What is Ackman's view on the company's market share in the enterprise market?

What are the competitors that Ackman mentions as threats to ADP?

What does Ackman believe about ADP's current organizational structure?

How does Ackman justify the need for a proxy contest?

What does Ackman believe about the company's current performance compared to its potential?

What is Ackman's perspective on the company's stock performance relative to its competitors?