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Engaged Capital

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business1 year ago

"VF Corp. Heir Backs Engaged Capital's Board Push for North Face Owner"

Activist investor Engaged Capital is seeking board seats at apparel maker VF Corp, with support reportedly coming from an heir of the founding family of VF. The investor aims to make changes to VF Corp's board, with the backing of the family, which holds about 15% of the company. VF Corp's CEO has been making changes following earnings misses, including evaluating options for their packs business and buying shares to show confidence in the company's path.

via Yahoo Finance|
#activist-investor#apparel-industry#board-seats
business1 year ago

"Engaged Capital Gains Founding Family Support, VF Corp Stock Soars 12%"

Activist investor Engaged Capital, with the support of the founding family of VF Corp, is pushing for board seats and faster change at the struggling owner of North Face, Vans, and Timberland brands. The Barbey family, which collectively owns about 15% of VF, wants two directors on VF's board replaced, blaming them for failing to respond to the company's challenges. VF shares have lost 42% of their value in the last 12 months, and Engaged Capital has been pressing for changes, including cost-cutting and exploring strategic alternatives. VF recently announced some changes and missed analysts' expectations in its third-quarter results.

via Reuters.com|
#activist-investor#board-seats#business
business1 year ago

"VF Corp's Turnaround Story: Founding Family Backs Activist Investor for Board Shake-Up"

Activist investor Engaged Capital, with the support of the founding family of VF Corp, is pushing for board seats and faster change at the struggling owner of brands like North Face and Vans. The Barbey family, which collectively owns about 15% of VF, wants two directors on VF's board replaced, blaming them for failing to respond to the company's challenges. VF shares have lost 42% of their value in the last 12 months, and Engaged Capital has been pressing for changes, including cost-cutting and exploring strategic alternatives. CEO Bracken Darrell is leading a turnaround effort, while another activist hedge fund, Legion Partners Asset Management, has also amassed a stake in VF.

via Yahoo Finance|
#activist-investor#board-seats#business