Dillard’s Receive Director Nomination Proposal
March 19, 2008
It has officially been confirmed by Dillard’s Inc., on Wednesday, that they have indeed received notice from two investment firms, Barington Capital Group LP and Clinton Group Inc., who are seeking to nominate four people to Dillard’s board which will be convening at the upcoming annual shareholders meeting.
Dillard’s released a statement saying that the notice they have received will be sent on to the Executive Committee of the Company’s Board of Directors for a review, and that at this stage nothing is required of stockholders.
This comes on the back of a statement being released by Barington Capital in which they say their intention to nominate directors is due to their overriding lack in confidence in the ability of those on Dillard’s board to generate increased shareholder value.