Crown Crafts has reached an agreement with its largest shareholder over the slate of directors to be nominated at the Gonzales-based company’s annual meeting next month. Under the deal with the Wynnefield Group, Patricia Stensrud and Donald Ratajczak will be nominated for seats on the Crown Crafts board; and Joseph Kling, a current director whose term is expiring, will not be nominated. In exchange, Wynnefield says it will vote for the slate and not put up a proxy fight. Wynnefield owns about 16% of Crown Craft’s stock. During each of the past several years, Wynnefield has fought with Crown Crafts about the makeup of the board.
Crown Crafts reaches agreement with largest shareholder
Sign up for the free Daily Report email – local news about the people, companies and issues that impact business impact business in Baton Rouge and beyond.
