Telecom Signaling Industry News

TMCNet:  BRIEF: ValueVision tally confirms hedge fund's seats on board [Pioneer Press, St. Paul, Minn. :: ]

[June 20, 2014]

BRIEF: ValueVision tally confirms hedge fund's seats on board [Pioneer Press, St. Paul, Minn. :: ]

(Saint Paul Pioneer Press (MN) Via Acquire Media NewsEdge) June 20--ValueVision Media's shareholders have voted out half of the Eden Prairie-based company's board of directors, according to a Friday filing with the Securities and Exchange Commission.

The vote followed a months-long campaign to shake up the company's leadership waged by the Clinton Group, a New York-based hedge fund that owns shares in ValueVision.

Board members Randy Ronning, William Evans, Sean Orr and Jill Botway were ousted, and will be replaced by Thomas Beers, Mark Bozek, Robert Rosenblatt and Fred Siegel -- all nominated by the Clinton Group. The Clinton Group also nominated two other candidates who weren't elected.

CEO Keith Stewart was re-elected. Clinton Group has said it wants to remove Stewart.

The filing confirms a Clinton Group tally -- based on its own estimates and issued shortly after Wednesday's shareholder vote -- that four of its six nominees would be elected.

Nick Woltman can be reached at 651-228-5189. Follow him on Twitter at @nickwoltman.

___ (c)2014 the Pioneer Press (St. Paul, Minn.) Visit the Pioneer Press (St. Paul, Minn.) at Distributed by MCT Information Services

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