Pressure grows on Deckers board - sportstextiles: Lea SportsTextiles

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Pressure grows on Deckers board

14/09/2017
Marcato Capital Management, a key investor in Deckers Brands, has nominated 10 candidates to replace the entire board of the footwear group.

In June, Marcato, which owns a 6% stake in Deckers, warned that it would bring in a new management team should the company fail to find a new buyer. 

This came after an announcement from Deckers in April that it would “review a broad range of strategic alternatives”, possibly including the sale of the company or of one of its brands.

Deckers confirmed it had received the nominations from Marcato, whose proposed candidates will stand for election to the board of directors at the company’s annual shareholders meeting in December. It added that it would review the candidates “as it would any other potential directors”. 

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