|
Article Excerpt
Steel Partners II, L.P. ("Steel Partners") announced that RiskMetrics Group (formerly Institutional Shareholder Services) and Proxy Governance, Inc., two of the world's leading independent proxy advisory firms, have both issued reports recommending that stockholders of Adaptec, Inc. ("Adaptec" or the "Company") (NASDAQ:ADPT) vote in support of Steel Partners' consent solicitation to remove Legacy Director and CEO S. "Sundi" Sundaresh and legacy director Robert J. Loarie.
RiskMetrics wrote in its report: "We find recent events and governance practices taken by the board in its efforts to restructure the board unusual, troubling and contrary to good governance." Adding: "We conclude the CEO as the architect of the strategic plan and leader of the day-to-day operations, shares a greater burden for both successes and failures. Overall, in view of the history of underperformance relative...
|
|
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
|
