Kohl' Says Activist Investors' Proposals Threaten To Disrupt Its Business Momentum
WASHINGTON (dpa-AFX) - Kohl's Corp. (KSS) said that Activist Investors are focused on short-termism and financial engineering at the expense of sustainable operating and financial success. They also propose certain ideas that the Company already has well underway. The company rejected their attempt to disrupt the company's strong business momentum.
Earlier today, the Investor Group, which owns about 9.5% of Kohl'soutstanding common stock, said that it filed revised preliminary proxy materials announcing its slate of five directors to run in opposition to five of the company's long tenured directors who the Investor Group believes do not have the relevant retail and governance skills to create shareholder value.