Blockbuster’s Antioco Reappointed to Board
Dallas, Blockbuster’s board of directors on Friday unanimously reappointed CEO John Antioco as chairman and expanded the board to eight members. Antioco was ousted last week in a proxy vote that replaced him and two other company-backed directors with billionaire investor Carl Icahn and his two dissident nominees.
Blockbuster spokeswoman Karen Raskopf said Antioco was assured that the new board would not push for an immediate change in direction for the company. She added that Antioco still viewed Blockbuster Online and the “No Late Fees” promotions as essential to the company’s success, according to reports. CEO Antioco said in a statement, “I am pleased that both the incumbent and new directors have asked me to continue to serve as Blockbuster’s chairman in the interests of building shareholder value.”
Icahn Discloses Stakes in Rite Aid, HP
Washington, Active financier Carl Icahn today revealed that he now holds stakes in Rite Aid, Siebel Systems and Hewlett-Packard. The billionaire investor, who made headlines this week after he and two allies successfully replaced three Blockbuster board members, also reported that he no longer holds stakes in insurance broker Aon Corp and paper-product company Temple-Inland Inc. Icahn disclosed his stakeholdings today as required by the Securities and Exchange Commission.
The Pantry Completes Acquisitions
Sanford, N.C., The Pantry, Inc. today said it has completed the acquisition of three convenience stores and one development site in Charleston, S.C.
“These stores will add to our existing presence of approximately 50 stores in the attractive Charleston market,” said Peter J. Sodini, the Pantry’s president and CEO, in a statement. “We will immediately convert the stores to our Kangaroo Express banner with one store offering BP gas and the other two stores offering our private-label Kangaroo gas.”