Founders, co-founders and ex-CEOs often target the companies they previously ran with activist campaigns, and in some occasions, hostile bids. Companies facing activism campaigns brought by their founders must contend with numerous issues typically not present in traditional hedge fund activism campaigns. "Founders look at the company they started and nurtured as their baby and may have deep and longstanding relationships with many of the company's employees and shareholders. They want their baby back," says Keith in the article. "The company needs to be concerned about divided loyalties and who it can trust." He shares more insights on what companies should consider when a take-private deal involves an ex-founder.