MDC 'Disappointed' Activist Investor 'Elected to go Public' With Concerns
An MDC Partners shareholder pushing for a board shakeup has gone public with its dissatisfaction with the holding company, which is currently searching for a new CEO and exploring a possible sale. In an SEC filing Wednesday afternoon, FrontFour Capital — which says it owns 5.1 percent of the holding company — revealed that it had initiated private conversations with MDC's board in August to replace CEO Scott Kauffman "with a candidate better suited to leverage the strength" of its agencies and to grow its market share in certain industries. According to the filing, "shortly ...
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