Elliott Management Corp., one of the largest shareholders of Hess Corp. (HES), said Tuesday that consistent with Hess's promise to refresh the Board, Elliott has proposed that all shareholder nominees and all management nominees step onto a reconstituted Board—the size and composition to be agreed upon. Shareholders want real change and a renewed Board. Hess has promised such renewal and this solution will follow through on that promise.
Elliott said in the statement that the Shareholder Nominees look forward to working with the reconstituted Board to restore accountability and investor confidence that will maximize value for all Hess Shareholders.
On Monday, Hess said, as Elliott's nominees had waived their rights to Elliott's troubling compensation scheme, Hess is prepared to add two Elliott nominees if they are willing to serve along with Hess' nominees. These nominees will only be considered after Hess' five independent nominees are elected at the annual meeting.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.