Vitacost stockholder shakes up board
This article was originally published in The Tan Sheet
Executive Summary
Great Hill Equity Partners, the largest holder of stock in Vitacost.com, will replace four company directors following a vote by Vitacost investors. An independent inspector of election confirmed the results July 21. Ira Kerker, CEO of Boca Raton, Fla.-based Vitacost, said, "The company's stockholders have spoken and we respect their decision." Great Hill offered its director nominees after communicating disppointment with the supplement retailer's flat sales growth and troubled manufacturing (1"The Tan Sheet" May 31, 2010, In Brief)
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Great Hill Equity Partners, the largest holder of stock in Vitacost.com, will replace four company directors following a vote by Vitacost investors. An independent inspector of election confirmed the results July 21. Ira Kerker, CEO of Boca Raton, Fla.-based Vitacost, said, "The company's stockholders have spoken and we respect their decision." Great Hill offered its director nominees after communicating disppointment with the supplement retailer's flat sales growth and troubled manufacturing (1 'The Tan Sheet' May 31, 2010, In Brief). |