In a Q&A with 13D Monitor, Elizabeth Gonzalez-Sussman shared her insights on the latest developments in shareholder engagement and activism defense, as well as her approach to advising boards and management teams.
Drawing on nearly two decades of experience representing activist investors, she emphasized the importance of proactive engagement and robust governance practices.
“My experience on the activist side gives me a unique perspective when advising companies and boards,” she said. “I understand the strategy and tactics of activist investors, which allows me to help my current clients anticipate potential moves, develop effective engagement strategies, and prepare for all phases of activist campaigns.”
She noted that the most effective boards are those that treat management succession as a core fiduciary responsibility and maintain a thorough transition plan for their CEO. “Boards should always have a well-prepared transition plan for their CEO to address not only performance issues if they arise, but also unforeseen events, such as an unexpected illness or sudden resignation,” she explained.
Ms. Gonzalez-Sussman also highlighted the shifting dynamics in settlement practices, observing, “Approximately 90% of the board seats gained by activists this year have been secured through negotiated settlements rather than through proxy fights. Settlements have become the norm and are being reached relatively quickly because both activists and companies now share a fairly clear sense of what constitutes a ‘reasonable’ compromise.”
Read the Q&A: “10 Questions With Elizabeth Gonzalez-Sussman,” December 2025.