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Zale Adds Activist Shareholder to Board

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Dallas Zale Corp. said Friday it named Richard Breeden and another Breeden Capital Management partner to its board, three days after the investor group raised its stake in the retailer.

Zale added Breeden, a former chairman of the Securities and Exchange Commission and Breeden Capital Management CEO and CIO, and James M. Cotter, a founding partner of Breeden Capital Management, to bring the total number of board members to eight.

Zale also said that it is seeking an additional independent director to bring the board to its full size of nine directors.