{
  "docId": "019dd923-622b-71dc-a6dd-111c214d7426",
  "docSlug": "4eddd58336e4",
  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona and Marco Taricco",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-04-09 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4444444,
  "pageNumber": 82,
  "pageCount": 86,
  "prevPage": 81,
  "nextPage": 83,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 12,
  "notes": "Uses a two-column layout to contrast corporate statements with activist rebuttals.",
  "elementsJson": [
    "headline_text",
    "comparison_table",
    "paragraph",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dd-111c214d7426/82",
  "deckHref": "/decks/019dd923-622b-71dc-a6dd-111c214d7426",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-111c214d7426.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-111c214d7426#slide-82",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "CEO Mr. Fink may rightfully bask in the memories and celebrate his past successes, but shareholders, given the underwhelming results of the last fifteen years, must look forward",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0397-72dc-a877-3f4ac875ab9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Total Shareholder Return: $9,197",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0397-72dc-a877-44d2d55d480c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "[...] the Board regularly reviews its leadership structure and considers this to be a key component of fulfilling its fiduciary duties to our shareholders.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6e5eb2fe-8c75-44ed-8d03-bc90e40e7b4f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.55,
        "x": 0.4,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "The very fact that the Board, in reviewing the leadership structure, does not detect any anomaly is the best demonstration of the lack of independent oversight within the Board.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9515bc66-f570-45c4-959d-564b3dfbb7ec",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "[...] the Board regularly reviews its leadership structure and considers this to be a key component of fulfilling its fiduciary duties to our shareholders. Importantly, the Board has chosen to maintain flexibility in its leadership structure and has not mandated the separation of the Chairman and CEO roles — BlackRock Proxy Filing 2024",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0397-72dc-a877-40183f10b2da",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.4,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: Bloomberg data, calculated in USD, assuming dividends reinvestment into the security IPO: 01/10/1999; BGI Deal Announcement: 12/06/2009, Full period to 31/12/2023",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fcc31376-c790-463b-a4a6-efc286631783",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.55,
        "x": 0.4,
        "y": 0.65
      },
      "kind": "table",
      "text": "Total Shareholder Return Breakdown : $100 invested at IPO",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e299c17-1232-438e-98aa-d85e32d42b10",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "BlackRock opposition is meritless and self-referential (1/4)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "687951cd-0506-4eba-96bf-bf51120d93f9",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "ac52c52d-7ad9-4058-95eb-c7c8d8adb98d",
      "evidence": "Side-by-side comparison of corporate claims vs activist rebuttal",
      "confidence": 0.95
    }
  ],
  "arcBeats": [
    {
      "to": 86,
      "from": 41,
      "beatId": "f205ac57-e480-4775-86ec-0e53ff9088b6",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Victory - Achieving Independence",
      "beatSlug": "overcoming-monster-the-victory",
      "evidence": "The document concludes by presenting a clear victory condition - the adoption of an independent board chair - and supporting evidence.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}