US: Adrenalina names four nominees for PacSun board
Activewear company Adrenalina has named four director nominees for election to the board of directors at its buyout target Pacific Sunwear of California.
The Adrenalina Group, which owns 3.2% of the outstanding shares of PacSun, announced yesterday (13 February) its intent to run a proxy contest. The company has also sent a letter to PacSun's chairman & CEO, Sally Frame-Kasaks, calling for her "immediate resignation", a statement said.
"We are delighted that this talented group of individuals has joined our quest to increase PacSun shareholder value through a merger between Adrenalina and PacSun," said Ilia Lekach, CEO and chairman of Adrenalina. "Enlisting their talents is a clear indication of the kind of fresh thinking we would bring to our efforts to improve the overall performance of PacSun."
Adrenalina's nominees include Rob Gordon, senior vice president of marketing at Warner Bros Records, Craig Lark, CEO of Hoven Sunglasses and Ammon Watches, Scott Oshry, Partner in Zorbit Resources, and Vanessa Rousso, a professional poker player and "self-proclaimed adrenaline junkie".
Adrenalina made two separate takeover bids for PacSun towards the end of last year, the highest valued at US$329m, but both were rejected.
Help test our new apparel sourcing tool.
Retailer Pacific Sunwear of California has lowered its second quarter sales and earnings guidance after projected non-cash impairment charges doubled....
Pacific Sunwear of California has appointed ex-Vans executive Gary H Schoenfeld as its president and CEO....
Despite a slump in sales, teen retailer Pacific Sunwear of California Inc has managed to narrow its first quarter loss through efforts to control its expenses and inventories....
- Rana Plaza four years on – Timeline of change
- Using worker surveys to drive supply chain change
- Trump and Brexit get a dose of pragmatism
- Where does VF supply chain sit in growth strategy?
- Investment continues in Ethiopia clothing sector
- Inditex, Adidas and Patagonia top ethical report
- Calls for supply chain transparency standard
- Amazon wins on-demand apparel manufacturing patent
- US textile industry applauds Trump executive order
- US Q1 in brief – Steve Madden, Skechers
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Myanmar - ISA Country Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts