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Dye & Durham Co-Founder Ronnie Wahi Intends to Reconstitute the Company's Board and Seek a Sale of the Business
Globenewswire· 2025-10-02 02:58
Core Viewpoint - The current board led by Engine Capital is failing to engage with potential acquirers, resulting in significant shareholder value destruction, and a new board is needed to maximize value through a sale of the entire business [1][5][6] Group 1: Board Performance and Strategy - Since Engine Capital took control in December 2024, the company has experienced a nearly 70% decline in share price, severe revenue deterioration, and increased spending, leading to a default on its debt [2][3] - The company has cycled through four CEOs and three CFOs in less than a year, indicating a pattern of mismanagement and failed leadership [2][3] Group 2: Shareholder Engagement and Value Maximization - Mr. Wahi has made multiple attempts to engage constructively with the board regarding critical issues, but these efforts have been unsuccessful, leading to a loss of shareholder confidence [3][6] - There is ongoing interest from qualified buyers at a significant premium to the current share price, but the board is not engaging with these potential acquirers [4][5] Group 3: Proposed Changes and Future Actions - Mr. Wahi intends to nominate qualified individuals to reconstitute the board at the upcoming annual meeting, with a focus on maximizing shareholder value through a full sale of the company [5][6] - The new board members will also seek to reverse any asset sales made prior to their election [5]
Lifeway and Danone Sign Cooperation Agreement
Prnewswire· 2025-09-30 21:10
Accessibility StatementSkip Navigation New Independent Directors to be Added Stockholders' Agreement Litigation is Stayed Lifeway is Evaluating Capital Allocation Alternatives to Maximize Value Danone Will Not Vote or Deliver Consent in Favor of Proposals Contained in the Consent Solicitation MORTON GROVE, Ill., Sept. 30, 2025 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or "the Company"), a leading U.S. supplier of kefir and fermented probiotic products that support the microbiome, today ...
Disney shareholders demand company turn over documents related to Jimmy Kimmel suspension: report
New York Post· 2025-09-25 16:13
Disney shareholders have threatened to sue the company if it did not turn over all documents related to the entertainment giant’s decision to suspend late-night host Jimmy Kimmel over his comments about the Charlie Kirk assassination, according to a report.Lawyers representing the American Federation of Teachers, Reporters Without Borders, Inc. and other shareholder groups pressed Disney to release board records surrounding Kimmel’s suspension, the news site Semafor reported on Thursday. The Post confirmed ...
Disney investors demand internal records on Jimmy Kimmel's suspension, say the board may have breached duties
Business Insider· 2025-09-24 23:50
Jimmy Kimmel's return to ABC may have pleased his fans, but it did not entirely pacify Disney shareholders. On Wednesday, a coalition of Disney shareholders sent a letter to the company demanding internal records, from emails to meeting schedules, related to its brief suspension of the late-night host. Disney is the parent company of ABC, where Kimmel's show is aired.Lawyers representing the American Federation of Teachers and Reporters Without Borders asked Disney to disclose how the suspension decision w ...
Nestlé chairman Paul Bulcke to step down early
Yahoo Finance· 2025-09-17 10:56
Group 1 - Nestlé chairman Paul Bulcke is stepping down earlier than planned following the unexpected departure of CEO Laurent Freixe due to an undisclosed relationship with an employee [1][2] - Philipp Navratil, CEO of Nespresso, has been appointed as Freixe's immediate successor, while Pablo Isla will take over as chairman from 1 October [2][6] - Bulcke expressed confidence in the new leadership and emphasized the importance of a timely transition to advance Nestlé's strategy [3] Group 2 - Shareholders criticized Bulcke's leadership, citing instability and underperformance, particularly regarding the handling of the investigation into Freixe's conduct [4] - A top shareholder indicated that Bulcke's resignation was a matter of decency and respect, reflecting a loss of trust in his leadership [4] - In recognition of Bulcke's long service, he has been named honorary chairman following his resignation [5]
Harley-Davidson, Inc. Announces Appointment of Two New Independent Directors
Prnewswire· 2025-09-15 20:30
Core Viewpoint - Harley-Davidson has appointed two new independent directors, Daniel Nova and Matt Reintjes, to its Board of Directors, effective September 15, 2025, to enhance the company's strategic direction and governance [1][2]. Group 1: New Board Appointments - Daniel Nova is a General Partner at Highland Capital Partners and has extensive experience in advising companies through growth and transition, along with a strong background in corporate governance and finance [2][4]. - Matt Reintjes has been the President and CEO of YETI Holdings since 2015, leading the company to become a prominent global outdoor brand, and brings valuable insights from his previous executive roles [4][5]. - The appointments come as part of a broader strategy to strengthen the Board, which has seen four new independent members added in the last three years [6]. Group 2: Board Changes and Leadership - The retirements of directors Sara Levinson and Norman Thomas Linebarger were announced prior to the new appointments, indicating a shift in the Board's composition [5][6]. - Troy Alstead has been appointed as the Presiding Director effective July 30, 2025, and will become Chairman of the Board on October 1, 2025, further indicating leadership changes within the company [6]. Group 3: Company Background - Harley-Davidson, established in 1903, is known for its iconic brand representing freedom and adventure, focusing on motorcycles, accessories, and financial services [7]. - The company aims to maintain its status as the most desirable motorcycle brand globally and has a controlling interest in LiveWire Group, Inc., which focuses on electric motorcycles [7][8].
Nestlé chair Paul Bulcke under fire after ouster of CEO Lauren Freixe over romantic relationship with subordinate
New York Post· 2025-09-15 14:21
Core Viewpoint - Nestlé is facing significant leadership turmoil following the abrupt firing of CEO Laurent Freixe due to a romantic relationship with a subordinate, marking the second CEO ouster in just over a year, which has led to increased pressure on Chair Paul Bulcke to resign [1][4][5]. Leadership Changes - Laurent Freixe was dismissed without severance pay after an internal investigation confirmed his affair, which was reportedly an "open secret" within the company [1][7]. - This dismissal follows the ousting of former CEO Mark Schneider in August 2024, leading to concerns about governance and stability within Nestlé [4][11]. - Philipp Navratil, previously head of Nespresso, has been appointed as the new CEO, but investors are skeptical about his ability to lead the entire conglomerate [5][15]. Investor Sentiment - Major shareholders are expressing dissatisfaction with Bulcke's leadership, with calls for his resignation due to the perceived governance failures and the impact on the company's credibility [5][10][16]. - Nearly 10% of shareholders voted against Bulcke's re-election as chair at the annual meeting, with an additional 5.4% abstaining [9]. Governance Concerns - The repeated leadership changes have raised alarms about the governance structure at Nestlé, with critics arguing that Bulcke's dual influence over management and the board has shielded him from accountability [9][10][12]. - Investors are concerned about the effectiveness of the board, with some suggesting that an external leader is needed to address the ongoing issues [12][16]. Financial Impact - Nestlé's shares have fallen 40% since 2022, resulting in billions in lost market value amid stagnating sales and governance scandals [9][17]. - The leadership crisis is seen as a core issue affecting investor trust, with shareholders indicating that Bulcke's continued presence could exacerbate the situation [16].
Indian billionaire tightens grip on BT by taking board seat
Yahoo Finance· 2025-09-15 08:49
Sunil Bharti Mittal became BT’s largest shareholder after taking a 24.5pc stake a year ago - Stefan Wermuth/Bloomberg Indian telecoms billionaire Sunil Bharti Mittal has ramped up pressure on BT by taking a seat on the company’s board. Mr Mittal, who became BT’s largest shareholder after taking a 24.5pc stake just over a year ago, has joined the board as a non-independent, non-executive director. Gopal Vittal, vice chairman and managing director of Mr Mittal’s company Bharti Airtel, will also take a sea ...
SEC taps Gibson Dunn lawyer to lead corporation finance division
Yahoo Finance· 2025-09-11 15:05
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: The Securities and Exchange Commission said Wednesday that Gibson Dunn attorney James J. Moloney has been named director of the agency’s Division of Corporation Finance, effective next month. Cicely LaMothe, who has served as acting director, will return to her role as a deputy director of the division, the agency said. “Jim is a seasoned professional who und ...
UTime Limited Announces Board Changes and Confirms Corporate Governance Stability
Globenewswire· 2025-09-11 10:02
Core Viewpoint - UTime Limited has completed changes to its Board of Directors, ensuring that governance mechanisms are functioning normally and business operations remain unaffected [1][4][6]. Board Changes - On September 4, 2025, the company received formal resignations from directors Qiu Hengcong, Bao Minfei, Xie Hailin, and Jia Xiaoqian, which became effective upon submission [2]. - New directors were appointed on September 8-9, 2025, including Wang Tianlong as CEO and Chairman, Ouyang Xuan as Independent Director and Chairperson of the Audit Committee, Tong Shirong as Independent Director and Chairman of the Compensation Committee, Liu Zhongping as Independent Director and Chairman of the Nomination and Governance Committee, and Wu Xiaoxia as Director [3][4]. Governance and Operations - The newly appointed directors have formally assumed their duties, and the corporate governance structure is described as sound and operating smoothly [4][6]. - Management is fully performing its duties, with daily operations and strategic execution progressing normally [6]. Company Commitment - UTime Limited commits to strict compliance with information disclosure obligations and NASDAQ corporate governance standards, providing accurate and timely information to the market, and upholding principles of compliance, transparency, and sound governance to enhance long-term value for shareholders and investors [8]. Company Overview - UTime Limited, trading under the NASDAQ ticker WTO, is engaged in the design, development, production, sales, and brand operation of mobile devices in China and globally, aiming to provide cost-effective products to a broad customer base [9].