Dye & Durham board resigns, activist nominees take control, interim CEO named
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 17/12/2024 (354 days ago), so information in it may no longer be current.
TORONTO – The brand-new board of directors at Dye & Durham Ltd. has named Hans T. Gieskes as chair of the board as well as interim CEO.
The change in leadership Tuesday comes after activity investor Engine Capital successfully pushed for a shakeup at the company with its own slate of board candidates.
The previous board resigned together ahead of Dye & Durham Ltd.’s annual meeting, and the activist investor’s slate of nominees were appointed in their place.
The legal software company says shareholders made their views clear based on preliminary tabulation of proxies ahead of the shareholder gathering.
It says the outgoing board decided it would be in the best interests of all stakeholders to facilitate a smooth turnover of the board.
Activist investor Engine Capital had accused the company’s existing directors of overseeing poor returns and failing to hold management accountable.
The new board includes Engine Capital nominees Gieskes, Arnaud Ajdler, Tracey Keates, Ritu Khanna, Anthony Kinnear and Sid Singh, and OneMove Capital Ltd.’s nominee Eric Shahinian.
Along with Gieskes as interim chief executive, the company says Ajdler will serve as the board’s lead independent director.
This report by The Canadian Press was first published Dec. 17, 2024.
Companies in this story: (TSX:DND)