On Wednesday, shareholders announced that they had resolved to re-election all 13 members of the department store retailer’s board of directors and rejected activist investor Macellum Advisors GP, LLC’s call for overhaul of directors. In a statement, Cole Chairman Peter Bonnepart said, “The Board will continue to focus on conducting a strong and deliberate review of strategic alternatives while implementing strategies to increase shareholder value. I have. ” Macellum blamed the company Business “management mistakes”.. Coles has also received a takeover offer in recent weeks. While the S & P 500 Index is rising, Coles’ share price has fallen 0.9% over the past year.
It sank 15.5% during the period.
Cole shareholders re-elected the board and rejected activist requests for overhaul
Source link Cole shareholders re-elected the board and rejected activist requests for overhaul