By Josh Beckerman
PetSmart Inc. shareholder Jana Partners LLC, the hedge fund that
has been pushing for a sale of the pet-goods retailer, said it is
considering nominating five people to the company's board.
If it opts to run a proxy contest, Jana said it has hired five
candidates who have agreed to put their names forward.
The candidates are Edwin Crawford, the previous chairman of CVS
Caremark Corp.; Julian Day, the former chairman and CEO of
RadioShack Corp.; Thomas Dickson, who most recently led Harris
Teeter Supermarkets Inc.; Susan Feldman, the co-founder of an
online home-goods shopping site; and Lawrence V. Jackson, a former
executive at Wal-Mart Stores Inc.
PetSmart, meanwhile, began exploring a sale this summer amid
pressure to do so from shareholders, including Longview Asset
Management LLC and Jana. The Wall Street Journal reported earlier
this month that a handful of private-equity firms have been invited
to the final round of bidding for the company, citing people
familiar with the matter.
PetSmart reported Tuesday that its third-quarter profit edged
down as the company reported higher costs that offset a 3% sales
increase. PetSmart has announced a plan to cut costs by $200
million a year by 2016.
Its annual meeting is expected to take place in June, Jana
said.
Write to Josh Beckerman at josh.beckerman@wsj.com
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