Values
Independent thinking
Independent thinking has been a core value of Cevian since its inception.
A key tenet of our approach is that alpha comes from having a strong independent view, seeing things differently from others, and having the conviction to challenge consensus and convention. Independent thinking leads us to invest in companies that are out-of-favour or misunderstood by the market. It enables us to think creatively about how we can help fundamentally change companies.
Our deep and comprehensive research process is designed to generate the knowledge and insights we require to think and act differently from others.
To think independently outside of Cevian, we must also be able to think independently within Cevian. Thus, all our team members are required to develop and advance their own independent views. We expect and welcome intellectual challenge and debate.
Do the right thing
“Do the right thing” is more than just a moral imperative for Cevian. It is the guiding principle for what we seek to do as an investor and owner.
When we own companies, the right thing is to work to make them truly better (and thus more valuable). It is right to do this not just for Cevian’s interests, but for the benefit of all shareholders and stakeholders.
When we advance value-creation initiatives, the right thing is to target improvements that create long-term value, even if that entails compromises in the short term. Doing the right thing also underpins our approach to creating value through sustainability.
When we see something that we think is wrong or not good enough, the right thing is to stand up and take constructive action.
As an investment manager, the right thing is to always keep at the forefront of our minds that we are in business for, and because of, our clients.
Respect
We believe that showing others respect is not only ethically correct, but leads us to better results.
We believe that forward-looking, non-personalised, constructive engagement is the most effective path to change. It also builds mutual respect and relationships that can be valuable in subsequent situations.