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  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona & Marco Taricco",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-04-09 00:00:00",
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  "pageNumber": 58,
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  "notes": "The slide uses a 'villain' framing by contrasting BlackRock's stated governance principles with their actual voting behavior.",
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      "kind": "callout",
      "text": "According to BlackRock, it is in the best interest of their clients to have their capital invested in a company whose CEO has a serious criminal record for falsifying the financial statement of another publicly listed company",
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      "text": "In the May 2021 and 2022 AGMs of Italian defence company Leonardo Spa, BlackRock voted respectively ‘ABSTAIN’ and ‘AGAINST’ a shareholder proposal aimed at ousting the company's Chief Executive Officer (Mr. Profumo), who in October 2020 had been sentenced to jail (first degree) for committing financial crimes.",
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      "kind": "quote",
      "text": "The Italian Court, established in April 2021, that Leonardo Spa's Chief Executive Officer in his prior post, was the author of a \"criminal plan\" carried out with the \"predictable intention to deceive shareholders or the public\"(3) — Tribunal of Milan - Sentence MPS Case RGNR 955/205 - 7 April 2021",
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      "text": "1. First degree\n2. May 2021 and May 2022 BlackRock voting at Leonardo AGM. Source: https://vds.issproxy.com/SearchPage.php?CustomerID=10228\n3. Tribunal of Milan - Sentence MPS Case RGNR 955/205 - 7 April 2021",
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      "text": "Leonardo SpA voting records for 2021 and 2022 showing Abstain and Against votes.",
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      "kind": "title",
      "text": "BlackRock’s vote AGAINST ousting CEO who has been sentenced to jail(1)",
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      "evidence": "Contrasts BlackRock's voting record with their stated fiduciary duty.",
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