Scott Galloway, Harbinger Capital’s representative, to step down from New York Times Board
| February 23rd, 2010 | ||
| Scott Galloway of shareholder activist investment firm Firebrand Partners has decided not to seek reelection for his seat on the board of the New York Times (NYSE: NYT). Mr. Galloway’s election in 2008 was part of a successful activist campaign by Phil Falcone’s Harbinger Capital, which had held a 19% stake in the New York Times at the time. According to an article in the NYT’s newspaper, Harbinger Capital has since reduced its holding in the company to 14.64% of shares out. Harbinger’s other board representative, James Kohlberg of Kohlberg & Company, plans to stand for reelection at the newspaper’s April 27th annual meeting. Mr. Galloway previously co-founded RedEnvelope.com and is currently also a professor of brand strategy at New York University’s Stern School of Business. | ||
For Detailed Investor Profiles on these Investors, click below: |
Firebrand Partners |
Harbinger Capital Partners LLC |
Related People: Omar Asali;
Related Entities: Firebrand Investments LLC;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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