Activist investor Clinton Group is agitating again, this time singling out home shopping site ValueVision as its current target.
The investment group is calling for a special meeting within 90 days to ask fellow shareholders to remove the majority of ValueVision’s board and expand the board to nine directors. Gregory P. Taxin, president of Clinton Group, said, “For too long, ValueVision has suffered from a lack of vision and strategy that has stunted its growth and caused it to severely underperform its peers. We have repeatedly asked the current directors to make changes in executive leadership and strategy and they have refused. We are therefore seeking shareholder support to elect new directors, who will install a senior management team that will harness the power of ValueVision’s tremendous assets in the rapidly converging world of media, e-commerce and entertainment to create significant value for shareholders.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)