AGM

Porsche Automobile Holding SE, the family-controlled parent company of the carmaker Porsche, announced 29 November that it has returned to profit for the first three months of its fiscal year.

In a statement, Porsche said it has generated a net profit of €155 million for the three months from 1 August 2010, compared with a loss of €413 million for the same period in 2009. 

The war of words between the Riggio family and activist investor Ron Burkle came to a head this week at the Barnes & Noble annual general meeting when shareholders voted on Burkle's proposals to change the company's governance structure, writes Katie Barker.

The Riggio family succeeded in defending its position when shareholders voted to reinstate Leonard Riggio as chairman of the board and failed to pass Burkle's plan to loosen a poison pill provision that allows the family to hold the largest share.

Barnes & Noble, the US bookseller controlled by the Riggio family, has sent a letter to shareholders urging them to vote against proposals made by activist shareholder Ron Burkle.

In the letter, sent 9 September, the Barnes & Noble board asks shareholders to vote against both of Burkle's proposals at the annual general meeting on 28 September. It also attempts to outline how decisions taken by company management have increased shareholder value, contrary to Burkle's claims.