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Automatic Data's board rejects Pershing Square's board nominees

Aug 22, 2017 - SNL Financial

Automatic Data Processing Inc. said that its board voted unanimously not to nominate any of Pershing Square Capital Management LP's three candidates for election at the company's 2017 annual shareholder meeting.

Pershing Square earlier in August nominated its CEO, William Ackman, along with Veronica Hagen and V. Paul Unruh, to Automatic Data's board. The company in its response said it would evaluate the nominees.

Automatic Data's board determined that none of them "bring additive sk...