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Article Date: May 2022
Word Count: 284

Kohl’s Repels Activist Investor at Shareholders Meeting


Kohl’s shareholders fired the final volley in support of the embattled retailer at its annual meeting, voting to retain the current 13 board members over activist investor Macellum’s slate of 10 directors. Kohl’s stock slipped around 4% on the news. Macellum had repeatedly charged that investor interest in a sale drove stock price improvements through the winter and spring, and that a lackluster response to March’s investor day resulted in a drop off. The vote closes the current proxy war with Macellum, which has been pushing for a go-private sale since the beginning of the year. In 2021, the hedge ... Log in to view full article.

 


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