Deckers Brands announced that, based on the preliminary vote count following its 2017 Annual Meeting of Stockholders, it appears that stockholders have voted to re-elect all of Deckers’ directors – John M. Gibbons, Karyn O. Barsa, Nelson C. Chan, Michael F. Devine III, John G. Perenchio, David Powers, James E. Quinn, Lauri M. Shanahan and Bonita C. Stewart – to the Deckers Board.
The vote comes after Marcato Capital, which owns 8.4 percent of Deckers, had threatened to replace the board of directors with its own candidates. The investment firm had unveiled a turnaround plan that called for selling Deckers brands such as Sanuk, Teva and Hoka, among other actions.
Deckers issued the following statement:
“We are very pleased with the outcome of today’s vote. On behalf of the entire Deckers Board and management team, we sincerely thank our stockholders for their valuable insight and support throughout this process. Today’s outcome reaffirms that we are on the right track. We remain focused on continuing our strategic transformation as we optimize our retail strategy, improve operating profits, refresh our Board and return capital to stockholders.
“Deckers expects to file the preliminary voting results, as tabulated by the independent Inspector of Elections, on a Form 8-K with the Securities and Exchange Commission within four business days. Deckers will file the final voting results on a Form 8-K with the Securities and Exchange Commission as soon as practicable.”
Deckers Brands include Ugg, Koolaburra, Hoka One One, Teva and Sanuk.
Photo courtesy Ugg
