Engaged Capital Partners to Donate All Board Fees for Remainder of 2020
April 17 2020 - 8:00AM
Engaged Capital, LLC, an investment firm specializing in enhancing
the value of small and mid-cap North American equities, today
announced that its partners will forgo all remaining fees to be
received from the public companies where they are a member of the
Board. Engaged has requested each company pool the capital and
provide it directly to employees who are most in need. Engaged’s
partners currently hold director positions at The Hain Celestial
Group Inc (NASDAQ: HAIN), Rent-A-Center, Inc (NASDAQ: RCII),
SunOpta Inc. (NASDAQ: STKL) and TiVo Corporation (NASDAQ: TIVO).
Glenn W. Welling, Founder and Chief Investment
Officer at Engaged Capital, stated, “These are unprecedented times
and virtually every company has been impacted by the COVID-19
pandemic. While governments are providing substantial stimulus and
recovery programs, it is also important for individuals to do what
they can to help those most in need. As such, our partners have
asked that all remaining 2020 board fees be redirected to support
those employees that are most impacted. They are not to be used to
support corporate objectives, but to help the individuals and their
families struggling through this volatile period.”
About Engaged Capital:
Engaged Capital, LLC (“Engaged Capital”) was
established in 2012 by a group of professionals with significant
experience in activist investing in North America and was seeded by
Grosvenor Capital Management, L.P., one of the oldest and largest
global alternative investment managers. Engaged Capital is a
limited liability company owned by its principals and formed to
create long-term shareholder value by bringing an owner’s
perspective to the managements and boards of undervalued public
companies. Engaged Capital manages approximately $1B of assets and
its efforts and resources are dedicated to a single investment
style, “Constructive Activism” with a focus on delivering superior,
long-term, risk-adjusted returns for investors. Engaged Capital is
based in Newport Beach, California.
Investor Contact:
Engaged Capital, LLCGlenn W. Welling, 949-734-7900
Media Contact:
Gagnier Communications Dan Gagnier,
646-569-5897dg@gagnierfc.com
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