Elliott Management Releases Klaus Kleinfeld's "Veiled Extortion" Letter
Three days ago Arconic's CEO Klaus Kleinfeld was fired unceremoniously for "showing poor judgment," in a letter sent to Paul Singer, founder of hedge fund Elliott Management. Elliott has just released the letter and its response which claims Kleinfeld made "veiled suggestions that he might intimidate or extort Mr. Singer" over his behavior at a 2006 soccer match... involving "singing in the rain... in a fountain" and an indian head-dress.
Mr Kleinfeld wrote...