WisdomTree's largest shareholder returns with fresh attempt opposing CEO

ETFS Capital

WisdomTree’s largest shareholder has called on fellow investors to oust chief executive officer Jonathan Steinberg, and urged for the potential sale of the $107bn US asset manager.

In a letter to shareholders on Monday (6 May), Graham Tuckwell, chair of ETFS Capital, which holds around an 18% stake in WisdomTree, asked investors to vote against the re-election of Steinberg and two other board members at the firm's annual meeting on 12 June.  Laying out its own letter in response, WisdomTree asked shareholders to ignore the activist's callout, calling Tuckwell's latest move "against three of WisdomTree's directors – his third attempt against the board in the past three years – that is a waste of time and resources and not in the best interests of the company and all...