• The Financial Times reports that RiskMetrics, a leading proxy adviser, is advising its clients to vote for Bill Ackman and Jim Donald next week when an election takes place for Target Corp.’s board of directors.
Ackman, a hedge fund CEO, and Donald, the former CEO of both Pathmark and Starbucks, are two members of an alternative slate of directors looking to dislodge current members of the Target board that they believe have made the company less competitive.
Target opposes the election of Ackman and Donald.
FT notes that “Glass Lewis, another leading proxy adviser, said it was endorsing Target’s four nominees” and not supporting any member of the alternative slate.
• The Staten Island advance reports that King Kullen plans to shutter a store on Staten Island, its second closing in the borough this year. The move leaves King Kullen with just four stores on Staten Island.
Ackman, a hedge fund CEO, and Donald, the former CEO of both Pathmark and Starbucks, are two members of an alternative slate of directors looking to dislodge current members of the Target board that they believe have made the company less competitive.
Target opposes the election of Ackman and Donald.
FT notes that “Glass Lewis, another leading proxy adviser, said it was endorsing Target’s four nominees” and not supporting any member of the alternative slate.
• The Staten Island advance reports that King Kullen plans to shutter a store on Staten Island, its second closing in the borough this year. The move leaves King Kullen with just four stores on Staten Island.
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