Macy's appoints two new independent directors, ending proxy contest with Arkhouse [Globe and Mail, The (Toronto, Canada)]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Globe and Mail, The
The appointments of Richard Clark and Richard Markee as independent directors also resulted in Arkhouse withdrawing its board nominees, the company said. In February, Arkhouse nominated nine director candidates just weeks after the retailer rejected the go-private bid. Clark and Markee will join the board's finance committee, which in addition to its existing responsibilities, will oversee the evaluation of the proposal from Arkhouse and Brigade. Arkhouse in March also said Macy's was in talks with the investment firm for opening its books for due diligence on the prospects of a higher offer. Shares of Macy's were down 2.5 per cent in premarket trading. Sign up for the Top Business Headlines: Evening Edition Newsletter. An informative summary of the day's top business headlines, features and columns. Explore newsletters
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