Elliott is putting pressure on the Northern Star company in Australia, demanding restructuring of its board of directors and pushing for asset sales.

Elliott Investment Management, a radical investor, called on Australia's largest gold miner, Northern Star Resources, on Wednesday night to immediately revamp its board and conduct a formal strategic review to restore shareholder value, citing significant underperformance. Last week, Elliott officially entered Northern Star's shareholder register with a stake of over one billion Australian dollars and called for a review and leadership change. Reasons for this include the company's repeated "operational missteps" - seven times in four years failing to meet performance expectations - and its stock performance lagging behind peers. Elliott successfully lobbied for BHP Billiton to cancel its dual listing after five years of campaigning. At the time of this statement, the $19 billion mining giant is in the process of recruiting a new CEO and developing a chairman succession plan. Earlier on Wednesday, Northern Star responded to Elliott's proposal with a letter to shareholders, stating their willingness to work with the activist investor and considering the board candidates Elliott may recommend.