Activist investor Shah plans to vote against Novavax board nominees and executive compensation plan

Glonghui April 8th｜Activist investor Shah Capital plans to vote against the re-election of board nominees and executive compensation proposals at the upcoming annual meeting of Novavax, once again putting pressure on the vaccine manufacturer to push for change. In a letter to the company on Wednesday, hedge fund founder Himanshu Shah stated that management has failed to implement meaningful cost-cutting measures. He urged the company's leadership to reduce costs and opportunistically buy back 10 million to 20 million shares. Shah Capital holds a 9% stake in Novavax, making it the company's second-largest shareholder.