Third Point’s Dan Loeb pens a pointed letter to Bath & Body Works – What could happen next
Publishing timestamp: 2023-02-25 07:42:02
Summary
Third Point, a multi-strategy hedge fund, has expressed concern with Bath & Body Works' executive compensation structure, financial discipline, investor communication and board composition. Third Point has taken issue with the company's decision to award its interim CEO, Sarah Nash, $18 million in restricted stock units, and believes that the board should designate Nash as executive chair. Third Point is now making a books-and-records request under Delaware law to assess the information the board relied on to justify this payout.
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Keywords: bath & body works inc, hedge funds, investment strategy, business news,