Preliminary results show that the eight person slate led by Aerojet CEO Eileen Drake captured about 75% of shareholder votes.
By Valerie Insinna“In terms of their vision for Aerojet, it’s not clear what the difference is between the two sides,” said Seth Seifman, an aerospace and defense analyst at J.P. Morgan. But “perhaps there’s some kind of opportunity … to influence shareholders one way or another.”
By Valerie InsinnaLegal documents viewed by Breaking Defense reveal the company’s board is split into warring factions, each seeking to oust the other’s leader in the wake of Aerojet’s failed merger with Lockheed Martin.
By Valerie Insinna“The near-term future of Aerojet depends on which faction within the company succeeds in asserting control,” said defense consultant Loren Thompson. But ultimately, he added, the long-term future of the company will be contingent on finding a new buyer “with big pockets.”
By Valerie Insinna