Kohl’s on Thursday sent a letter to shareholders in which it pushed back against activist investor Macellum’s campaign to add new directors to the retailer’s board.
In the letter, which comes ahead of Kohl’s annual meeting with shareholders in May, the retailer called Macellum’s nominees an “unqualified slate.”
“Macellum is promoting an ever-changing narrative, misinformed claims, and value-destructive proposals, all of which reveal a reckless and short-term approach that is not in the interest of driving long-term, sustainable value,” Kohl’s said.
A representative for Macellum didn’t immediately respond to CNBC’s request for comment.
Shares of Kohl’s were little changed in premarket trading.
Find the full letter sent to Kohl’s shareholders here.
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