Crown Crafts addresses Wynnefield proposals
August 1, 2007,
Gonzales, La. – In a letter from chairman, president and ceo E. Randall Chestnut posted after the close of business yesterday, infant and juvenile products manufacturer Crown Crafts Inc. offered its riposte to a set of proposals issued Monday by insurgent shareholder group Wynnefield Partners Small Cap Value.
The counter-proposal from Crown Crafts offers to:
Add an eighth board member who is not affiliated with either the company or Wynnefield;
Form a nominating and governance committee and elect the new director to it;
Review the company’s non-employee director fee structure.
Related Content By Author
Live From New York: Fashion Comes Across the Pond
Home & Textiles Today eDaily
Most Viewed Articles
See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more...