ADP Says Activist Investor William Ackman Seeks a Shake-Up<br />According to ADP, Pershing Square asked that a deadline for nominating directors be extended so it could put up<br />five candidates — including Mr. Ackman — for ADP’s board in time for this year’s annual shareholder meeting.<br />ADP, the payroll processing giant, said on Friday that the hedge fund mogul William A. Ackman had sought<br />five seats on its 10-member board, in the latest clash between corporate America and activist investors.<br />In a statement, ADP said that Mr. Ackman’s company, Pershing Square Capital Management, had disclosed on Tuesday<br />that it owned an 8 percent stake in the payroll company.<br />Mr. Ackman also said that the payroll specialist’s chief executive, Carlos A. Rodriguez, should be replaced, ADP said.<br />Mr. Ackman has long been one of the most prominent of these activists, having taken positions in<br />companies including from the mall operator General Growth Partners and Chipotle Mexican Grill.<br />“ADP is open to constructive input from our shareholders,<br />and our board respects the right of shareholders to nominate directors,” the company said in its statement.
