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UPDATE 1-Marcato names nominees to replace Deckers entire board
September 13, 2017 / 8:38 PM / 3 months ago

UPDATE 1-Marcato names nominees to replace Deckers entire board

(Adds company comment)

Sept 13 (Reuters) - Activist investor Marcato Capital Management LP said on Wednesday it had nominated 10 candidates for election to replace footwear maker Deckers Outdoor Corp’s entire board.

The hedge fund, which owns about 6.1 percent of Deckers shares, warned in June that it would replace the board if the company’s review of strategic alternatives did not result in a sale.

Deckers, the maker of UGG boots, said it had received the nominations and would review them.

The company is scheduled to hold its annual shareholder meeting on Dec. 14.

Deckers also said its management had held discussions with Marcato during the past eight months and was reviewing strategic alternatives to enhance stockholder value.

The hedge fund’s nominees include its partner Matthew Hepler and former Ralph Lauren Corp executive Mitchell Kosh.

Others include Anne Waterman, who had spent 15 years at Michael Kors, and Kirsten Feldman, a former Morgan Stanley advisory director.

Deckers’ shares closed up 1.8 percent at $64.64 on Wednesday. They had risen nearly 30 percent since Marcato disclosed its stake on Feb. 8.

Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila

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