Tiny Activist Bluebell Quickly Becomes CEOs’ Worst Nightmare

Bluebell Capital Partners doesn’t have a Paul Singer or Bill Ackman at its helm, or billions of dollars to help bend companies to its will. Yet, the activist investor is swiftly becoming a nightmare for Europe’s corporate boardrooms.

Just this week, it helped engineer the ouster of food group Danone SA’s Chairman Emmanuel Faber in the region’s biggest management change of 2021. That came just shy of a year after Mark Langer resigned as chief executive officer of fashion house Hugo Boss AG following pressure from the London-based fund.

Bluebell has taken on at least nine companies since its ...