{ "docId": "019dd923-622b-71dc-a6dc-23e15d07fdb2", "docSlug": "44b2c3637c02", "documentTitle": "Arconic Inc. (ARNC)", "authorId": "14_Icahn", "authorName": "Richard B. Zabel", "documentKindSlug": "shareholder-letter", "documentKindLabel": "Shareholder letter", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2017-04-20 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "pageCount": 4, "prevPage": 3, "nextPage": null, "slideType": "closing_ask", "function": "state_demand", "density": "dense", "nDataPoints": 0, "notes": "This is page 2 of a formal legal/shareholder letter.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-23e15d07fdb2/4", "deckHref": "/decks/019dd923-622b-71dc-a6dc-23e15d07fdb2", "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-23e15d07fdb2.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-23e15d07fdb2#slide-4", "components": [ { "bbox": null, "kind": "callout", "text": "Therefore, we want to be assured that you are attending to your responsibility to understand what Dr. Kleinfeld actually did, what he intended to do, and to make sure whatever he set in motion is stopped.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-64d2-7657-bbeb-ae725fdd5dc7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.8 }, "kind": "list", "text": "cc: Kate Ramundo, Jon Pollock, The Board of Directors of Arconic Inc. (list of names)", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4ee5f118-3860-4b32-bceb-c0039cad2ff0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.8, "x": 0.1, "y": 0.24 }, "kind": "paragraph", "text": "Therefore, we want to be assured that you are attending to your responsibility to understand what Dr. Kleinfeld actually did, what he intended to do, and to make sure whatever he set in motion is stopped. Furthermore, we expect that if anyone in the Company or among the Directors acquiesced in, condoned or was complicit in this conduct, they are not being retained by the Company. These are standards commonly expected to be abided by under federal law. See, e.g., USAM 9-28.700, 9-28.900, 9-28.1000, 9-28.1100. I remind you that not only are Mr. Singer and Elliott potential victims, we are shareholders as well, and we do not want to see these issues proliferate for us or for the Company. While I recognize that you may have concerns about maintaining the privilege and confidentiality of any investigation, there are ways that you or your counsel could assure us that Mr. Singer, as the target of Dr. Kleinfeld's conduct, can be satisfied that the concerns I mention above are all being dealt with and are under control. This is not difficult to do, as your counsel will inform you, especially since facts are not privileged, and I would appreciate speaking to a representative of your choosing or your counsel regarding these issues. Please have someone contact me no later than April 18 to discuss this.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "451822fd-949c-4795-ac9a-8b2d966bd7fa", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.3, "x": 0.1, "y": 0.7 }, "kind": "paragraph", "text": "Yours truly, Richard B. Zabel, General Counsel/Chief Legal Officer", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7ac4256b-1f57-45a7-9c8b-cce750c6cf77", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.8, "x": 0.1, "y": 0.08 }, "kind": "paragraph", "text": "compensation and governance responsibilities at Hewlett Packard Enterprise (\"HPE\") by virtue of his specific role on HPE's Board of Directors. That conflict should never have been the case for a supposed independent director in the first place but certainly cannot be present in a proper independent internal investigation, which it would not be if she is or has been involved. Finally, these concerns about Dr. Kleinfeld's conduct, and how it will be handled internally at a company he directed until today, are not unfounded given Dr. Kleinfeld's history at Siemens in Germany of trying to tarnish the reputations of those he viewed as opponents.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c5bbcb76-a6f9-422e-90df-fd6a5c821cd8", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "These concerns about Dr. Kleinfeld’s conduct, and how it will be handled internally at a company he directed until today, are not unfounded given Dr. Kleinfeld’s history at Siemens in Germany of trying to tarnish the reputations of those he viewed as opponents. — Richard B. 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