1. Activist Shareholder Scores a wWin against Ugg Boots Maker

    Activist Shareholder Scores a wWin against Ugg Boots Maker

    Activist investor Mick McGuire — who has been struggling to get on the board of the company that makes Ugg boots — just got a foot plant. Influential proxy advisory firm ISS recommended late Wednesday that shareholders vote for three nominees to the board of Deckers Outdoor that have been put forward by McGuire’s hedge fund, Marcato Capital. “ISS’s recommendation validates our belief that change is needed on Deckers’ Board,” McGuire said in a statement Thursday...

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    1. ISS's recommendation validates our belief that change is needed on Deckers' Board.
    2. In this instance, Marcato made material changes to its slate at Deckers that were in line with the initial very specific preferences of ISS, so ISS revised its recommendation.
    3. Deckers believes that the addition of Marcato's nominees to the Deckers Board could result in significant disruption to the company's ongoing successful transformation.
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