Build-a-Bear Shareholder to Nominate Board Candidates
February 18 2016 - 9:00AM
Dow Jones News
A big shareholder in Build-a-Bear Workshop Inc. disclosed
Thursday that it intends to nominate two candidates to the toy
retailer's board.
Hedge fund Cannell Capital LLC, which owns an 8.2% stake in
Build-a-Bear, plans to nominate Gus Halas and Timothy Brog for
Build-a-Bear's board at the company's annual meeting.
Mr. Halas, 64 years old, currently holds a number of director
roles and previously was the chief executive of Central Garden
& Pet Co. Mr. Brog, 52, is president of hedge fund Locksmith
Capital.
Cannell disclosed its stake in Build-a-Bear late last year,
saying in a regulatory filing that it had pushed Build-a-Bear to
buy back some shares and appoint a different candidate to the
board.
A representative for Build-a-Bear couldn't immediately be
reached for comment.
Build-A-Bear has been working to turn itself around after the
novelty of its concept faded. The St. Louis-based retailer, founded
in 1997, allows customers to make their own stuffed animals.
Shares of the company have gained 12% this year through
Wednesday's close of $13.70 a share, but remain well below last
year's highs of around $20.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
(END) Dow Jones Newswires
February 18, 2016 09:45 ET (14:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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