(Bloomberg) — Activist investor ValueAct Capital Management is urging Hawaiian Electric Industries Inc. to look outside of the company for a successor to Chief Executive Officer Constance Lau to help the utility accelerate its renewable energy goals.The San Francisco-based hedge fund said in a letter to Hawaiian stakeholders it believes the company has started its succession planning for Lau and is in need of a corporate cultural shift.“The company is at an inflection point where management can be driven either by more of the same inertia or, alternatively, by innovative, forward-looking thinking and action,” ValueAct Chief Executive Officer Jeff Ubben …read more
Source:: Yahoo Finance
