Elliott Associates Protests Hess Split

Elliott Associates has filed an official statement with the SEC congratulating management at Hess Corp. (NYSE:HES) on its decision to split the Chairman and CEO roles at the company. The move by the company brings an end to part of the proxy battle that Elliott has been fighting at the company.

In the statement, Elliott Associates said that the move was "not a concession or step on the part of the company, rather it is a reaction to the shareholder vote currently underway." Earlier today, Hess Corp. (NYSE:HES) said that it would start a process that would see the majority...