Agrium board targeted for shakeup by Jana Partners; five new directors proposed |
| Calgary Herald - Nov 19, 2012 |
The largest shareholder of Agrium Inc. (TSX:AGU) wants to shake up the Canadian fertilizer company's board by installing its managing partner and four new independent directors, including a former federal agriculture minister.
New York based fund manager Jana Partners issued a statement Monday proposing five new directors — the latest in a string of challenges to Agrium's current leadership under chief executive Mike Wilson.
The nominees include its managing partner, Barry Rosenstein, as well as Lyle Vanclief, who was Canada's agriculture minister from 1997 to 2003 under a Conservative government, and three other men.
"Agrium’s board has had every opportunity to respond constructively to our analysis and instead simply attempted to avoid the issues,” Rosenstein said in a statement announcing the board challenge.
Read more: http://www.calgaryherald.com/business/Agrium+board+targeted+shakeup+Jana+Partners+five+directors/7569580/story.html#ixzz2ChPXhGox
Read Full Article from Calgary Herald
- Posted: 2012-11-19 14:40:19
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