Macy's, Inc. Appoints Richard Clark And Richard L. Markee To Board Of Directors, Arkhouse Terminates Proxy Contest as Two of its Nominees Added to Board and Finance Committee
Portfolio Pulse from Benzinga Newsdesk
Macy's, Inc. (NYSE:M) announced the appointment of Richard Clark and Richard L. Markee to its Board of Directors, following engagement with Arkhouse, which led to the termination of its proxy contest. Tony Spring assumes the chairman role, and Douglas W. Sesler joins the Board, following the retirements of Jeff Gennette and Frank Blake. The Board is engaging with Arkhouse and Brigade regarding a proposal to acquire Macy's, with due diligence information being shared.
April 10, 2024 | 12:32 pm
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Macy's, Inc. appoints new board members, ends proxy contest with Arkhouse, and continues engagement on acquisition proposal.
The appointment of new board members and the termination of the proxy contest with Arkhouse, coupled with ongoing discussions about an acquisition proposal, signal positive governance and strategic moves that could enhance shareholder value. These developments are likely to be viewed positively by investors, potentially leading to a short-term uptick in Macy's stock price.
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