Renown Inc, a major apparel maker, reached an agreement with Neoline Capital by giving up a seat on its board to the top shareholder. At one time, Neoline capital proposed assigning three executives to Renown's board and keeping Nakamura, the current CEO, at his post.
In avoiding the proxy fight, Renown will have a young top management team represented by the next CEO, 47 year old Kitabatake, and two other executives in their forties.
May 01, 2009
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