Just Energy shareholder seeks shakeup [Toronto Globe and Mail (Ontario, Canada)]
JUST ENERGY GROUP (JE)
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Source: Toronto Globe and Mail
Just Energy shareholder seeks shakeup Just Energy Group Inc.’s third-largest shareholder is looking to unseat most of the gas and power retailer’s board of directors as its stock has floundered amid a lengthy search for buyers. Rob Snyder, a Dallas-based investor and former competitor who owns 9.3 per cent of Just Energy, submitted shareholder proposals late last week to increase the number of directors on the board to eight from six, and has put forward a slate of six new nominees, including himself. The nominees are well known in U.S. retail energy and investment sectors, especially in Texas, where Just Energy has sizable operations. Mr. Snyder has been critical of the direction of the company and the leadership of its founder Rebecca MacDonald, and last autumn sent a harshly worded letter to the board raising questions about internal controls after the company reported $74.1-million in charges related to customers not paying their bills. At the time, he warned of unspecified shareh
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