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Company News

Investor Litt calls for removal of Hudson's Bay chairman

Aug 8 (Reuters) - Activist shareholder Jonathan Litt on Thursday called for the removal of Canadian retailer Hudson’s Bay Co Chairman Richard Baker from the board.

Litt said the chairman-led shareholder group’s C$1.74 billion bid for the company was “woefully inadequate” and that he would urge Hudson’s Bay to immediately undertake a plan to monetize its real estate and distribute proceeds to shareholders if the offer was unsuccessful. (Reporting by Shanti S Nair in Bengaluru; Editing by Anil D’Silva)

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