TORONTO Dec 6 Rona Inc said on
Thursday it was open to discussions with Invesco, a leading
shareholder, responding to the investor's calls for the Canadian
hardware retailer and distributor to remove its board as a step
toward improving its performance.
Acting Chief Executive Dominique Boies said Rona had also
asked Invesco, its second-largest shareholder with about a 10.16
percent stake, for nominees to fill two vacant seats on its
"We have offered to have Invesco propose candidates and to
include them in our process, but they haven't done so yet,"
Boies said in an interview with Reuters on Thursday.
Invesco last month publicly expressed unhappiness with the
company, which rejected a $1.8 billion takeover from Lowe's Co
Inc earlier this year. Its criticism came just days
after long-time CEO Robert Dutton stepped down at Rona,
following yet another quarter of lackluster results.