Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Activist investor group cuts Kohl's director nominees to five from nine

03/11/2021 | 02:16pm EST

March 11 (Reuters) - A group of activist investors with a combined 9.5% stake in Kohl's Corp on Thursday reduced the number of directors it plans to nominate to the department store's board to five from nine.

The group had last month nominated a slate including former executives of Macy's Inc and Burlington Stores to Kohl's board, in what it called an effort to add more retail experience to the company's leadership and improve profitability.

Kohl's on Thursday said its current directors "outmatch" the group's slate of nominees in experience and that the activists' proposals threaten to disrupt the company's business momentum.

The group, which includes Macellum Advisors GP LLC, Ancora Holdings Inc and Legion Partners Asset Management LLC, said it cut the number of nominees due to "the absence of meaningful progress towards a resolution" ahead of the start to its proxy campaign.

The five directors the group wants to replace from Kohl's board include the chairman of its compensation committee and the chair of its audit committee.

Among the group's nominees is Macellum Capital Management Chief Executive Officer Jonathan Duskin.

(Reporting by Uday Sampath in Bengaluru; Editing by Saumyadeb Chakrabarty, Sriraj Kalluvila and Shinjini Ganguli)


© Reuters 2021
Latest news "Economy & Forex"
05:55pOfficial correction-people who are not fully vaccinated and at risk of developing severe covid-19 disease, including those 60 years or older or who have comorbidities, should be advised to postpone travel - who statement (adds 'not fully vaccinated')
RE
05:53pSalesforce.com inc's co-ceo bret taylor says number of customers on slack who spent over $100,000 was up 44% year-over-year - conf call
RE
05:52pU.S. judge asks if owners of opioid maker Purdue abused bankruptcy to shield assets
RE
05:52pTheranos' Holmes questioned at trial about Balwani relationship
RE
05:51pNew York accuses Amazon of backsliding over worker safety, seeks monitor
RE
05:49pGlobal markets rocked by taper talk, COVID fears
RE
05:43pPfizer seeks U.S. authorization of COVID-19 booster shots for 16, 17 year olds
RE
05:40pThe WSJ Dollar Index Rises 1.72% to 89.90 -- Data Talk
DJ
05:40pSterling Lost 2.84% to $1.3301 -- Data Talk
DJ
05:40pEuro Lost 1.93% to $1.1340 -- Data Talk
DJ
Latest news "Economy & Forex"