Starboard Value's Jeff Smith says companies are more receptive to activists like him

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Starboard Value's Jeffrey Smith, one of the busiest activist investors for two decades, said companies have grown more receptive to voices like him.

"We usually don't have to go as far," Smith said at CNBC's Financial Advisor Summit . "Many of you might be surprised, but they all want to work with us. … They're more open to hearing our thoughts and having a nice discussion about what can be done with the company and how the company can be improved." It marks a sharp contrast from the environment when he first started his career.

" Smith also sought a turnaround at pizza chain Papa John's in 2019 at a tumultuous time for the company . Last year, he took an activist stake in software company Salesforce . The Starboard CEO was even active during the Covid-19 pandemic . He has previously called for changes at Humana, Kohl's, Mercury Systems and other companies. "In the last 10, 15 years, we've achieved a position that I'm not sure we planned on achieving, but it's really kind of unbelievable.

 

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