Thursday, March 14, 2019

Two GameStop Investors Push for Board Refresh

The Wall Street Journal
Two GameStop Corp. shareholders are threatening a proxy fight, if the videogame retailer doesn’t overhaul its board of directors and take other steps to improve its performance after a sale process didn’t pan out.

Permit Capital Enterprise Fund LP and Hestia Capital Partners LP, who have a combined 1.3% stake in GameStop, want the company to refresh its board and boost stock buybacks, according to a letter to GameStop’s board reviewed by The Wall Street Journal. If met with resistance, the shareholders said they plan to nominate a slate of members to overhaul the Texas company’s nine-person board.. . . more