For the last two months, Abercrombie & Fitch Co. (NYSE:ANF) have been inundated with calls by activist investor Engaged Capital LLC to begin looking for a new CEO.
It appears that Engaged, who owns about 400,000 shares, or less than 1 percent of shares outstanding, may finally be getting its wish.
Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More
Engaged gets its wish for Abercrombie?
Today, Abercrombie & Fitch Co. (NYSE:ANF) separated its chairman and chief executive officer roles. Arthur Martinez, formerly of Sears, will slip into the role of non-executive chairman. Michael Jeffries, who had been chairman since 1996, will continue to serve on the