Charles River Laboratories

CEO James C. Foster has decades of tenure and industry credibility. Governance tightened in 2025 following a cooperation agreement with Elliott that added four directors, formed a Strategic Planning and Capital Allocation Committee, and created a NAMS and Science Committee to steer the transition toward alternative methods.

Insiders demonstrated alignment with open‑market purchases in 1Q25; however, CEO equity ownership remains below 1 percent and historical option sales occur under 10b5‑1 plans. We view current oversight and the portfolio review as positives, though operational execution on divestitures and margin restoration will be the real test.