Advisors to join Crown Crafts board
James Mammarella -- Home Textiles Today, June 29, 2007
Gonzales, La. – Infant and juvenile bedding and accessories manufacturer Crown Crafts said that major shareholder Wynnefield Partners Small Cap Value indicated in an SEC filing that it will nominate two of its agents to the Crown Crafts board of directors. Wynnefield and its affiliates own 14.6% of Crown Crafts, the company said.
A Wynnefield principal, Nelson Obus, is one of the nominees; the other is Frederick Wasserman, assigned by Wynnefield in November 2005 as an unpaid, non-voting board observer.
The board itself will nominate three current directors for re-election: Crown Crafts chairman, president and ceo Randall Chestnut; William Deyo of Goddard Investment Group; and Steven Fox of Rogers & Hardin.