Marcato Capital nominates slate of ten director nominees for Deckers board
Marcato Capital, a San Francisco-based investment manager which manages funds that beneficially own approximately 6.1% of the outstanding common shares of Deckers Outdoor Corporation, announced that it has nominated a full slate of ten highly qualified candidates for election to the Deckers board of directors at the company's Annual Meeting of Shareholders to be held December 14, 2017. Mick McGuire, Managing Partner of Marcato, said: "Deckers has enjoyed a strong, profitable brand with UGG for many years, yet has failed to translate this enviable position into growth in earnings and shareholder value. Given the company's significant underperformance compared to peers, coupled with the board's failure to take the necessary corrective strategic action, we believe change is required. On numerous occasions we have sought to engage constructively with the board to add new directors and develop a strategy focused on profitable growth while improving margins and returns on invested capital. Unfortunately, our efforts to work collaboratively to enhance shareholder value have been met with significant resistance. While we appreciate that the company is undergoing a strategic review and we are eagerly awaiting the results of that process, we continue to believe that Deckers lacks proper oversight. Should the company's process not culminate in a desirable outcome, we believe the entire board must be replaced. Accordingly, today we are nominating ten highly qualified director candidates who bring the fresh perspectives and relevant retail, apparel and capital markets experience necessary to implement a strategic plan that will generate meaningful shareholder value." Marcato's ten nominees are Deborah M. Derby, Kirsten J. Feldman, Steve Fuller, Matthew P. Hepler, Robert D. Huth, Jan R. Kniffen, Mitchell A. Kosh, Nathanial J. Lipman, Michael W. Rayden, and Anne Waterman.