- Prachi Singh |
Deckers Brands has provided an update on its ongoing board refreshment process saying that the company’s board of directors has retained a leading national director search firm and is actively engaged in a search process to identify at least two new qualified independent directors ahead of the 2018 annual meeting of stockholders. The company added that appointment of these new directors will coincide with an equal number of retirements from the existing board.
“We thank our stockholders for the input that we have received so far on our future board composition,” said John Gibbons, Chairman of the board in a press statement, adding, “Rather than participate in our search process and help our efforts to continue to deliver sustainable value for our stockholders, Marcato has chosen to continue this expensive and distracting proxy fight during our most important selling season.”
Deckers’ added that board and search firm will consider all director candidates suggested by stockholders, including those proposed by Marcato. Deckers will consider all candidates in the same fashion and any such candidates would need to participate in the same vetting and interview process. To date, Marcato has refused to allow any of its nominees to participate in the company’s established governance and selection process.
Picture:Deckers Brands website