Tag: Keith Meister
This Blog's on Fire (And Other Stuff)
One of ADT's largest shareholders sells most of its stake
November 26, 2013Tess Nacelewicz
The ADT Corp. reported yesterday that it was buying back 10.24 million of the shares of its third-largest shareholder, Corvex Management. Keith Meister, the hedge fund's founder, who had been on ADT's board since late 2012, also announced his resignation as director.
ADT's stock price plunged early yesterday morning shortly after the news and while it recovered somewhat, was still down .59 percent this afternoon.
Meister said in a prepared statement, “We initially invested in ADT because of...
ADT appoints Meister to board of directors
December 21, 2012SSN Staff
BOCA RATON, Fla.—ADT recently announced the appointment of Keith Meister, the founder and managing partner of Corvex Management LP, to the company's board of directors, according to a company statement.
“Over the last few months, we have engaged in a series of productive discussions with Keith about our business and growth strategy,” Bruce Gordon, ADT's chairman of the board, said in the statement. “He brings many years of valuable financial expertise and we welcome him to...
This Blog's on Fire (And Other Stuff)
ADT makes RMR forecast
November 27, 2012Tess Nacelewicz
The ADT Corp., which just became independent in September, says its Pulse product is doing so well that it predicts that recurring revenue will grow by 4.9 percent to 5.2 percent in fiscal year 2013, the company said this week in a report on its Q4 and fiscal year 2012 results.
“We delivered solid recurring revenue growth fueled by the continued success of Pulse in the residential and small business security markets,” ADT CEO Naren Gursahaney said in a statement. “Our focus for...