Legion Partners Comments on Primo Water Corporation CEO Announcement
05 Noviembre 2019 - 6:07PM
Business Wire
Legion Partners Holdings, LLC (together with its affiliates,
“Legion Partners”), who beneficially owns 3,567,946 shares of Primo
Water Corporation (Nasdaq: PRMW) (“Primo” or the “Company”),
representing approximately 9.1% of Primo’s outstanding common
stock, today commented on the Company’s announcement that Matt
Sheehan has been terminated as President and CEO and that Billy D.
Prim has been appointed Interim President and CEO.
Legion Partners Co-Founder Ted White issued the following
statement:
“We fully support Mr. Sheehan’s termination, as his performance
was completely unacceptable. However, we are deeply concerned about
Billy Prim’s appointment as interim CEO and his plans to remain on
the Board as Chairman given that he is as much a part of the
problem at Primo as Mr. Sheehan was.
This announcement also does not change our position that
shareholders would benefit from further governance improvements and
substantive refreshment of Primo’s Board, including the removal not
only of Mr. Prim but also directors Richard Brenner, Malcolm
McQuilkin and David Warnock.
Primo’s shareholders have suffered for far too long under the
oversight of the current Board. Legion is still evaluating next
steps to address the pressing issues at Primo.”
About Legion Partners
Legion Partners is a long-term-oriented activist fund focused on
producing attractive risk-adjusted returns for clients. Legion
Partners’ investment strategy is concentrated on North American
small cap equities, utilizing deep fundamental research and
long-term shareholder engagement to drive superior performance over
time.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191105006282/en/
Media: Sloane & Company Dan Zacchei / Joe Germani
212.486.9500 dzacchei@sloanepr.com / jgermani@sloanepr.com
Primo Water (NASDAQ:PRMW)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Primo Water (NASDAQ:PRMW)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
Real-Time news about Primo Water Corporation (NASDAQ): 0 recent articles
Más de Primo Water Corp. Artículos de Noticias