“We are not convinced that the dissident’s slate of nominees would represent a marked improvement” over the company’s directors, the report, which was seen by Reuters, said.
Proxy advisory firm Glass Lewis on Tuesday suggested that Kohl’s Corp investors choose all of the 13 board nominees set forth by the executives, dealing a blow for activist investment company Macellum Advisors which is pushing to take control of the board. Glass Lewis said the organization has found a way significant ways to support sales and productivity and that it’s stock exhibition has been sensibly in accordance with industry peers and concluded that it doesn’t seem OK for investors to back the dissenter’s slate. Macellum assigned 10 director candidates.
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