Nadia's Feed
Jun 25, 2013

Exclusive: Men’s Wearhouse founder clashed with CEO, mulls comeback

By Nadia Damouni and Siddharth Cavale

(Reuters) – Tensions started rising at Men’s Wearhouse Inc (MW.N: Quote, Profile, Research, Stock Buzz) over the past six months, as founder and executive chairman George Zimmer increasingly butted heads with his handpicked CEO over the clothing retailer’s strategy.

CEO Doug Ewert wanted to sell the company’s K&G Fashion Superstore business, while Zimmer wanted to keep it, two sources familiar with the situation said. Zimmer also objected to rising compensation for top executives, including Ewert, while the board thought it was appropriate, the sources said.

Jun 25, 2013

Men’s Wearhouse founder clashed with CEO, mulls comeback

June 24 (Reuters) – Tensions started rising at Men’s
Wearhouse Inc over the past six months, as founder and
executive chairman George Zimmer increasingly butted heads with
his handpicked CEO over the clothing retailer’s strategy.

CEO Doug Ewert wanted to sell the company’s K&G Fashion
Superstore business, while Zimmer wanted to keep it, two sources
familiar with the situation said. Zimmer also objected to rising
compensation for top executives, including Ewert, while the
board thought it was appropriate, the sources said.

Jun 25, 2013

Exclusive: Men’s Wearhouse’s ousted founder ponders comeback

By Nadia Damouni and Siddharth Cavale

(Reuters) – Men’s Wearhouse Inc (MW.N: Quote, Profile, Research, Stock Buzz) founder and longtime commercial spokesman George Zimmer is pondering options that could include trying to stage a comeback after he quit the clothing company’s board on Monday, two people familiar with the matter said.

Zimmer, who was abruptly forced out last week as executive chairman, is talking to his advisers, including legal counsel Cooley LLP, about his options, these sources said. A decision is not imminent, the sources said.

Jun 25, 2013

Men’s Wearhouse’s ousted founder mulls possible comeback

June 24 (Reuters) – Men’s Wearhouse Inc founder and
longtime commercial spokesman George Zimmer is pondering options
that could include trying to stage a comeback after he quit the
clothing company’s board on Monday, two people familiar with the
matter said.

Zimmer, who was abruptly forced out last week as executive
chairman, is talking to his advisers, including legal counsel
Cooley LLP, about his options, these sources said. A decision is
not imminent, the sources said.

Jun 18, 2013

Starboard’s battle with Smithfield over China-deal adds to activist image

NEW YORK (Reuters) – Since Starboard Value LP was spun off as a separate hedge fund just over two years ago it has been fast gaining a reputation for aggressive shareholder activism, pushing for change in household names including AOL (AOL.N: Quote, Profile, Research, Stock Buzz) and Office Depot Inc (ODP.N: Quote, Profile, Research, Stock Buzz).

Initially investing in small cap value companies, Starboard quickly gained a reputation in Silicon Valley as a corporate raider, targeting mostly technology companies including Agilysys Inc (AGYS.O: Quote, Profile, Research, Stock Buzz), Openwave Systems and Extreme Networks Inc (EXTR.O: Quote, Profile, Research, Stock Buzz) among several others.

Jun 7, 2013

Exclusive: Icahn, Southeastern prepare Dell CEO shortlist – sources

NEW YORK (Reuters) – Carl Icahn and Southeastern Asset Management Inc are short-listing potential candidates to become the next Dell Inc (DELL.O: Quote, Profile, Research, Stock Buzz) chief executive should they succeed in a proxy battle against Michael Dell and Silver Lake Partners, two sources close to the matter told Reuters.

A number of high-profile industry executives have been identified as possible successors to the Dell founder, including: Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) director Michael Capellas, former IBM Corp (IBM.N: Quote, Profile, Research, Stock Buzz) services head Michael Daniels, Oracle Corp (ORCL.O: Quote, Profile, Research, Stock Buzz) President Mark Hurd and Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) PC boss Todd Bradley, the sources said.

Jun 7, 2013

Icahn, Southeastern prepare Dell CEO shortlist-sources

NEW YORK, June 7 (Reuters) – Carl Icahn and Southeastern
Asset Management Inc are short-listing potential candidates to
become the next Dell Inc (DELL.O: Quote, Profile, Research) chief executive should they
succeed in a proxy battle against Michael Dell and Silver Lake
Partners, two sources close to the matter told Reuters.

A number of high-profile industry executives have been
identified as possible successors to the Dell founder,
including: Cisco Systems Inc (CSCO.O: Quote, Profile, Research) director Michael Capellas,
former IBM Corp (IBM.N: Quote, Profile, Research) services head Michael Daniels, Oracle
Corp (ORCL.O: Quote, Profile, Research) President Mark Hurd and Hewlett-Packard Co (HPQ.N: Quote, Profile, Research)
PC boss Todd Bradley, the sources said.

Jun 7, 2013

Exclusive: Forest braces for third bout with Icahn

By Bill Berkrot and Nadia Damouni

(Reuters) – Forest Laboratories Inc is trying to avert yet another bitter proxy battle with billionaire investor Carl Icahn ahead of its annual investor meeting this summer, according to two sources familiar with the situation.

Icahn, Forest’s second-largest shareholder, and the company have been in discussions over the course of the year and talks are ongoing to avoid a third proxy fight in as many years, the sources said.

May 29, 2013

Analysis: P&G all-star board’s oversight questioned as CEO departs

By Ross Kerber and Nadia Damouni and Jessica Wohl

(Reuters) – The sudden exit of Procter & Gamble Co’s (PG.N: Quote, Profile, Research, Stock Buzz) Bob McDonald as chief executive and the return of former CEO A.G. Lafley in his place has raised questions about the vigilance of one of America’s highest-profile corporate boards.

On paper at least, P&G, the maker of a myriad of household products such as Crest toothpaste and Tide detergent, has one of the strongest boards in the world with CEOs from six other companies among its 12 members, including three from companies in the Dow Jones industrial average. The CEOs include Boeing Co’s (BA.N: Quote, Profile, Research, Stock Buzz) James McNerney, Hewlett-Packard Co’s (HPQ.N: Quote, Profile, Research, Stock Buzz) Meg Whitman, American Express Co (AXP.N: Quote, Profile, Research, Stock Buzz) CEO Kenneth Chenault, and Macy’s Inc CEO (M.N: Quote, Profile, Research, Stock Buzz) Terry Lundgren.

May 29, 2013

P&G all-star board’s oversight questioned as CEO departs

May 29 (Reuters) – The sudden exit of Procter & Gamble Co’s
Bob McDonald as chief executive and the return of former
CEO A.G. Lafley in his place has raised questions about the
vigilance of one of America’s highest-profile corporate boards.

On paper at least, P&G, the maker of a myriad of household
products such as Crest toothpaste and Tide detergent, has one of
the strongest boards in the world with CEOs from six other
companies among its 12 members, including three from companies
in the Dow Jones industrial average. The CEOs include Boeing
Co’s James McNerney, Hewlett-Packard Co’s Meg
Whitman, American Express Co CEO Kenneth Chenault, and
Macy’s Inc CEO Terry Lundgren.