Sara Lee Corporation (NYSE: SLE) may be experience a shakeup after the leader of an activist hedge fund gained a seat on the board. Jeffrey Ubben or ValueAct Capital was installed late last week onto the board of Downers Grove-based Sara Lee. Last winter, the activist hedge fund bought up a 5 percent stake in the company amid its multiyear turnaround effort.

Activist investors like ValueAct Capital typically buy into situations where they preceive value is being obstructed by something that they can fix. Usually, this object is bad management, poor capital structure, or other similar factors. While most activists are considered quite determined and even bordering on mean or evil.

However, ValueAct Capital has taken a completely different tone in this case. The hedge fund said at the time of its purchase that it had no plans to push for any significant strategic changes at Sara Lee and was comfortable with the firm's direction. Regardless, many investors are hoping that the hedge fund will work to help management act more quickly to unlock value.

Christopher Growe of Stifel Nicolaus isn't expecting a major change in the company's direction. The analyst insists that ValueAct has historically worked in unison with management to turn a company's performance around. He added that the presence of ValueAct on the board will also keep the transformation of the business moving along and could add a sense of urgency.

Sara Lee is a global manufacturer and marketer of brand-name products for consumers worldwide focused primarily on meats, baking, beverage and household products categories. The company's operations are organized around six business segments with its significant customers including mass retailers and supermarket chains in the USA and EU.