Kingsdale's Guide to Your 2025 Annual General Meetings

Activism has shifted from operational intervention to strategic influence, and most boards are still playing by the old rules. A clear example is Bill Ackman, from his 2012 proxy fight at Canadian Pacific to his bid for Universal Music Group in 2026. Prepared boards identify pressure early. See what this means for boards under pressure.

Kingsdale Founder & CEO, Wes Hall, was interviewed by Diligent, sharing early insights from the 2026 Proxy Season and highlighting a 28% rise in activist campaigns in Canada. As activism becomes more targeted and sophisticated, the message for boards is clear: preparation is no longer optional, it is essential.

When BP fired its chairman, the move was dressed up as a shock. A unanimous board decision. It had all the markings of a sudden crisis. It was nothing of the sort. By the time a board is forced to remove its chairman in public, the cheaper, quieter options have already expired.