- Prachi Singh |
Deckers Brands has announced that affiliates of Marcato Capital Management have nominated 10 director candidates to stand for election to the board of directors at Deckers’ 2017 annual meeting of stockholders, scheduled to be held on December 14, 2017.
The company said, its board will carefully review and consider Marcato’s candidates as it would any other potential directors to assess their ability to add value on the board for the benefit of all stockholders. The company currently has an independent board, with three new directors who have joined since 2014. The board believes that it has an appropriate mix of skills, experience and leadership to drive performance and provide effective oversight, however it will give full and fair consideration to the nominees proposed by Marcato.
As previously announced, Deckers said, it is executing on a focused strategy to drive improvements in the business through streamlining its cost structure. Deckers continues with its 100 million dollars operating profit improvement plan: in fiscal year 2018, Deckers expects to achieve net savings in excess of 30 million dollars, and is targeting a similar cadence of savings each year through fiscal year 2020. To achieve this, Deckers is taking a number of actions to improve its gross profit margins, as well as its corporate overhead expense structure.
Picture:Deckers Brands website