{"id":1687737,"date":"2022-10-13T08:58:52","date_gmt":"2022-10-13T12:58:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687737"},"modified":"2022-10-13T08:58:55","modified_gmt":"2022-10-13T12:58:55","slug":"retailer-kohls-faces-fresh-call-for-board-rejig-from-activist-group-macellum","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/retailer-kohls-faces-fresh-call-for-board-rejig-from-activist-group-macellum\/","title":{"rendered":"Retailer Kohl\u2019s faces fresh call for board rejig from activist group Macellum"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fretailer-kohls-faces-fresh-call-for-board-rejig-from-activist-group-macellum%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1687737&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) \u2013     Activist investor group Macellum Advisors is once again pushing for board seats at the struggling department store chain Kohl\u2019s Corp and the ouster of its chairman, according to a letter from the hedge fund to the shareholders on Thursday.<\/p>\n<p>Macellum owns about 5% of the retailer and wants its candidates to replace some of the long-tenured directors, including chairman Peter Boneparth and other members of the executive committee.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Kohl\u2019s, whose market capitalization has halved to about $3 billion this year, did not immediately respond to a request for comment.<\/p>\n<p>This is not the first attempt by Macellum, which is led by veteran retail investor Jonathan Duskin, to change the board.<\/p>\n<p>Earlier this year, the hedge fund had pushed to replace 10 directors when the retailer first tried to sell itself, but the move was rejected by investors in May.<\/p>\n<p>Kohl\u2019s decided against a sale and chose to remain independent in July, disappointing investors who had pushed for a deal and resulting in a plunge in its shares.<\/p>\n<p>Shareholder pressure returned again last month when Ancora Holdings, one of the hedge funds that spearheaded a board shake-up last year, sought the removal of chief executive and board chairman.<\/p>\n<p>In its letter to investors, Macellum said it had recently approached the board to work together on a refresh, but that was rebuffed by the chairman.<\/p>\n<p>\u201cThere is an urgent need for change now, rather than waiting another eight months for another contested election at the 2023 annual meeting,\u201d Macellum\u2019s managing partner Duskin wrote.<\/p>\n<p> (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/retailer-kohls-faces-fresh\/attachment\/file-photo-a-kohls-department-store-in-new-york\/\"><img decoding=\"async\" src=\"https:\/\/c3.oann.com\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI9C0OI-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9C0OI-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Activist investor group Macellum Advisors is once again pushing for board seats at the struggling department store chain Kohl\u2019s Corp and the ouster of its chairman, according to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1687737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1687737"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1687737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1687737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1687737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1687737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}