Dillard’s Avoids Proxy Fight
Little Rock, Ark. Dillard’s Inc. on Tuesday said it agreed to nominate four new directors to avoid a proxy fight with an activist shareholder group.
Barington Capital Group LP and its affiliate, Clinton Group Inc., which own 5.4% of shares, had earlier said they wanted to nominate four candidates to Dillard’s board.
Dillard’s said it would nominate one of the candidates Barington had selected, Nick White, a former executive with Wal-Mart Stores, to its board.
Other nominees, who were not on Barington’s original list, include James A. Haslam III, chief executive of Pilot Travel Centers LLC; R. Brad Martin, a former chief executive of Saks Inc.; and Fran R. Mori, a former chief executive at Anne Klein Inc. and Donna Karan International.
Barington and Clinton agreed to stop their efforts to elect their slate and to vote for the company’s nominees.
Wal-Mart Accused of Failure to Reinstate Soldier
Washington, D.C. The Department of Justice filed a lawsuit against Wal-Mart Stores, Inc., alleging violations of the Uniformed Services Employment and Reemployment Rights Act (USERRA).
The complaint was filed on behalf of Sean Thornton, a former airman with the United States Air Force, and alleges that Wal-Mart violated USERRA by failing and refusing to reinstate Thornton to his civilian employment position as a cashier at a Wal-Mart store in Orange City, Fla., after he was discharged by the Air Force.
Stage Stores Appoints Exec to Board of Directors
Houston Stage Stores announced that Andrew Hall, who joined the company in February 2006, and serves as its president and COO, has been appointed to the board of directors.
Hall is filling the seat vacated by Michael McCreery, who retired from the board on March 28, 2008.