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Lowe's names three new board members after talks with activist investor

Published 01/19/2018, 09:25 AM
© Reuters.  Lowe's names three new board members after talks with activist investor
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  • Lowe's (NYSE:LOW) +1.9% premarket after naming two independent board members with plans to appoint a third following talks with activist hedge fund D.E. Shaw.
  • The news follows a report last week that D.E. Shaw had built an active stake in the company and was concerned about its performance compared with other home improvement retailers.
  • The board appointees are David Batchelder, co-founder of Relational Investors - reportedly recommended by D.E. Shaw - and Lisa Wardell, CEO of Adtalem Global Education; Brian Rogers, chairman of T. Rowe Price Group and its former chief investment officer, also will be nominated.
  • Now read: Lowe's: Fixing What Is Not Broken


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