Accountability Capital Urges Crescent Point Board to Restore Investor Confidence and Focus on Shareholder Return
February 11, 2018
Investors have effectively lost confidence in Crescent Point Energy's board and management, following years of poor share price performance. It is time for leadership changes and focus on total shareholder return.
Crescent Point's shareholders have experienced devastating losses over a long period of time as the share price declined from approximately $40 to the current level of about $8. The current board and management are directly responsible for the persistent poor performance. We urge the board to prioritize shareholders rather than continue with flawed strategy that has resulted in 80% share price destruction.
Crescent Point must engage and listen to its shareholders. It is not a private company and the founder cannot continue to disregard what is in shareholders’ best interest. Changes to the board and senior management may be necessary in order to instill new thinking and investor confidence.