Did Jana's "Intimidation Process" Work At Zimmer?

Did JANA Partners use its usual method to get the CEO out at Zimmer Biomet Holdings?

Known in some corporate circles as a Wall Street "bully", Jana Partners Managing Partner Barry Rosenstein is known in other hedge fund strategy circles as being an activist investor who lives up to his word. Rather than start an "engagement" by blasting corporate management and attacking a board as some activists have done, Rosenstein’s latest strategy iteration is known for being clear on the process and attempting to work extensively behind the scenes before going public. Fireworks have been known to ensue when the corporate managers are publicly challenged. But it is in the relative nuance and constant behavior where a secret to...