- Prachi Singh |
Iconix Brand Group, Inc. has received nomination of four individuals from Sports Direct International plc, to stand for election to the former’s board of directors at the company's 2018 annual meeting of shareholders.
The company said in a statement that its nominating and corporate governance committee will review Sports Direct's notice and consider the nominations in due course. The board will present its formal recommendation regarding director nominees in the company's definitive proxy statement and other materials, to be filed with the Securities and Exchange Commission and mailed to all shareholders eligible to vote at the 2018 annual meeting.
The company added that members of Iconix's senior management team and board have held numerous discussions with Sports Direct over the past several years to listen to their feedback regarding the company's strategic direction and plans to enhance shareholder value and despite its efforts to maintain a constructive dialogue, Sports Direct is effectively seeking control of the company without paying a control premium.
The Iconix board comprises eight directors, six of whom are independent, and three of whom were appointed in the past three years. The board believes that all of its directors possess significant experience relevant to the company's business, including directors with global experience as well as a deep understanding of the company's strategy and operations, strong business and financial acumen, a proven record of accomplishment, public company senior executive, director and corporate governance experience.
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