Barclays’ Jim Rossman joined Ron Orol on the latest Activist Investing Today podcast to discuss findings from his third-quarter shareholder activism review. He highlighted a surge in campaigns globally through the third quarter and discussed regulatory shifts that could favor management in boardroom battles.

The Securities and Exchange Commission’s approval of an auto-voting initiative at Exxon Mobil Corp. (XOM) could give the oil major a boost if it faces contested elections, and the strategy is likely to be employed at other companies seeking to gain an edge on key votes by mobilizing retail investor support, Rossman explained.

Rossman also talked about how a move by the big index fund managers, including BlackRock Inc. (BLK), to split their stewardship teams will impact investor-corporate communications, and he discussed the impact of new 13G-D guidance on institutional investor engagement.

Activism hit record levels, with 191 campaigns in 2025 through Sept. 30 and 98 board seats gained by activists in that time frame. CEO turnover, especially in the U.S., was often tied directly to activist pressure, Rossman explained.

Listen to the podcast with Jim Rossman below:

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