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Marcato names 10-member slate to replace Decker's board
September 13, 2017 / 6:43 PM / 3 months ago

Marcato names 10-member slate to replace Decker's board

Sept 13 (Reuters) - Activist investor Marcato Capital Management LP said on Wednesday it had nominated 10 candidates for election to replace footwear maker Decker Outdoor Corp’s entire board.

The hedge fund, which owns about 6.1 percent of Decker’s shares, warned in June that it would nominate to replace the board if the company’s review of strategic alternatives did not result in a sale.

Decker‘s, the maker of UGG boots and apparel, is scheduled to hold its annual shareholder meeting on Dec. 14.

The hedge fund’s nominees include its partner Matthew Hepler and former Ralph Lauren Corp executive Mitchell Kosh.

Others include Anne Waterman, who had spent 15 years at Michael Kors, and Kirsten Feldman, a former Morgan Stanley advisory director.

Decker’s shares were up 1.4 percent at $64.40 in late morning trade on Wednesday. They had risen nearly 30 percent since Marcato disclosed a stake in the company on Feb. 8.

Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila

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